During my eighty-seven years, I have witnessed a whole succession of technological revolutions. But none of them has done away with the need for character in the individual or the ability to think.”
February 08, 2023
If the “name” CMGI isn’t familiar to you, it’s probably because it’s an investment story that’s over half a century old. Yet, its relevance to FAANG and technology stocks today is remarkable. In its time, it was one of the few stocks whose trading symbol was better known than its corporate name of College Marketing Group Inc. Others similar...
January 12, 2023
As you might recall, we identify the period of 1955-1956 as the beginning of the modern investment era. Prior to that, stocks had yielded more than bonds as they were deemed inherently riskier. It was a belief that changed in the 1950s with the arrival of Jerry Tsai at Fidelity Investment Management. His mother, who had influenced him...
December 08, 2022
“The Road to Hell is Paved with Good Intentions.” Such is the old (1828) Portuguese proverb. It would seem to be a reasonable description of the Federal Reserve’s prior policy for 12 years with interest rates at 0%. Ironically, there are also 12 Federal Reserve Governors on the Federal Reserve Board. These board members have more than 400 Ph.D...
November 16, 2022
Mansions result from great partnerships. It was a lesson I first learned as a 12-year-old caddy. I would always ask the person I caddied for what he did for a living. To me, he was rich, and I also wanted to grow up and be rich. However, my father had inculcated me in the belief, that if I wanted to succeed, it would be solely up to me...
- ‹ previous
- 3 of 39
- next ›