Why The Stock Market Crash of 2008-2009 Was Not Scary
On page 22/23 of his work One Up On Wall Street, Peter Lynch explained why the stock market declines of 1990 bothered him a lot more than those of 1987: “While the 1987 decline scared a lot of people...
View ArticleA Great Piece of Advice From Seth Klarman’s Margin Of Safety
In Seth Klarman’s book Margin of Safety, which has become a cult classic due to its excellent wisdom and the fact that Klarman ran a limited edition 5,000 copy print of the book (which regularly sells...
View ArticleMcDonalds Stock: The Cost Of Good News
McDonalds stock has delivered 14% annual returns dating back to the 1960s. What makes the company so impressive is that not only has it trounced its competitors since that time, but it actually has no...
View ArticleCharlie Munger’s 2007 USC Commencement Address Speech
Charlie Munger’s 2007 commencement address to the Gould School of Law at USC is obviously one of my favorite commencement addresses and I have uploaded the video and the transcript for your review. I’d...
View ArticleHow To Find Long-Term Dividend Stock Ideas
Sometimes, I hear from investors that are interested in investing, and don’t mind spending a few years per week thinking about stocks, but don’t necessarily have the time or inclination to elevate that...
View ArticleShould You Buy High Dividend Stocks?
According to the search engine terms that drive people to this site, one of the most common questions is about whether someone should purchase the common stocks of companies with a high dividend yield....
View ArticleLife Is About More Than Investing
A professor stood before his philosophy class and had some items in front of him. When the class began, wordlessly, he picked up a very large and empty mayonnaise jar and proceeded to fill it with golf...
View ArticleWhat Separates Excellent Investors from Good Investors
From June of 1990, American States Water has been an excellent investment by just about any metric you could identify. The California utility is perhaps one of the most understandable businesses in the...
View ArticleA Single Cash-Generating Business Is The Foundation of Long-Term Wealth Building
According to page 8 of Dr. Thomas Stanley’s research in the book “The Millionaire Next Door”, people that are self-employed make up less than 20% of American workers yet they constitute almost 70% of...
View ArticleWhy Boardwalk Pipelines Is An Absolute Steal At $13
This week has been no friend to the long-term unit-holders of Boardwalk Pipelines (BWP) who were greeted with a cash distribution reduction of 81% from $0.5325 to $0.10. And because the appeal of...
View ArticleWilliam F. Buckley On Big Tobacco and Hypocrisy
[ In a 1988 ABC special, columnist William F. Buckley debated Jesse Jackson on drugs (particularly cigarette smoking), and during the debate Buckley said this: “If we get nothing else out of the hour...
View ArticleHow William Danforth, Founder of Ralston-Purina, Changes My Life Everyday
The second and third order world effects that William Danforth has had on our civilization are staggering. Although most of the 300+ million people going to bed at night in the United States have no...
View ArticleAndrew Kahr: The Man Responsible For High Credit Card Fees, Interest Rates,...
There is a BP gas station by where I live that uses a deceptive business practice to cajole people into patronizing it. The gas station owner posts a price that is $0.20 below the Shell Oil station...
View ArticleWhy You Invest With Your Mind, Not A Calculator
A justifiable but ultimately flawed investing impulse is to rely solely on the numbers we see from a company rather than thinking about the qualitative aspects of the investment itself. Some of this...
View ArticleCoca-Cola Stock: Wealth and Prosperity Protector
Five years ago, Coca-Cola stock hit a high of $45 per share. Right now, the stock trades at $47.85. When any stock does not appreciate in price for five years or more, the investor class often allows...
View ArticleCharlie Munger’s Belridge Oil Investment
At the 2019 Berkshire Hathaway shareholder meeting, Charlie Munger described Belridge Oil as the greatest investing mistake of omission of his life. In 1977, he bought 300 shares of the stock for $115...
View ArticleEastman Kodak, Instagram, And The Urgency To Invest
Some of you may already be familiar with this statistic that has been making the internet rounds: at its absolute peak, Eastman-Kodak was able to employ more than 140,000 people across the world,...
View ArticleA Great Reader E-Mail About Coca-Cola Investing
One thing I have strong mixed emotions about is my terrible track record of responding to reader e-mails. At my current rate, I’m only responding back to about one out of every fifteen or so that spend...
View ArticleWarren Buffett’s Still Got It
I attended last weekend’s 2019 Berkshire Hathaway Annual Shareholder meeting. During the well-known portion of the day when Charlie Munger and Warren Buffett field questions from shareholders, I was...
View ArticleUber IPO: The Myth Of One-Day Wealth
The significance of an initial public offering is that stocks become openly traded on some type of exchange/counter and, in this day and age, can be purchased online in an impersonal manner by any...
View Article