It isn’t as important to buy as cheap as possible as it is to buy at the right time.
July 22, 2016
As I sat in the faculty club dining room with Professor John Sterman I thought, “My God, it’s going to be miserable to go through a long-wave downturn.” Our lunch was 25 years ago. Judging by the current economic and presidential activity, my foreboding was totally justified. Professor Sterman is a professor at M.I.T.’s Sloan School and an...
June 16, 2016
The investment world is experiencing something it has never seen before … a “rolling” bear market. Sector by sector, industry by industry, the market has been declining for a year and a half. Yet, overall the market has not declined! It is a situation that has confused everyone.
The energy and consumer discretionary...
May 27, 2016
“How would you like your business card to read?” the office receptionist asked. “Francis Patrick Boland,” I answered. It was an outlandish statement on my part. Everyone around me had a nick name. I did not. But then I wasn’t an upper-class Boston Brahmin. “Might as well put my Irish heritage up front,” I thought. It was the spring of...
March 29, 2016
How often have you heard an investment management firm discuss or write about their sell discipline? Probably never! Most firms don’t have one. I was, in fact, in the investment business for 35 years before I fully realized its importance. Even then, it wasn’t my epiphany. The realization was forced on me by a client who became a friend...
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