There is only one side of the market and it is not the bull side or the bear side, but the right side.
May 24, 2013
An attractive woman in her early 40s walked right up to us and gushed to my companion, “Aren’t you …?” It wasn’t the first time I saw that happen. But usually it’s an older male in the financial business. Such is the power of being a “Rock Star“ portfolio manager. You become a celebrity. To qualify as a Rock Star, I submit, you have to have...
April 22, 2013
A two-hour college lecture can seem extraordinarily long when you’re in your early 50s, even with a ten-minute break! But there I was sitting in Massachusetts Hall in Harvard Yard –surrounded by over a hundred “kids”- listening to Professor David Dressler talk about the life cycle of scientific breakthroughs. And I had brought this tedium on...
March 08, 2013
As we walked back from lunch and stood outside the office building talking, I realized I had but a moment to say it. It was November 2012 and one of our research clients was about to return to his office. “Joe,” I began. “One last thing, I think you should sell Apple.” “WHAT!” he responded?
The stock...
December 18, 2012
The man sitting across the table suddenly stood up unable to contain his excitement. “Look,” he said. “We know how to open and run restaurants! We did it for years at Bennigan’s Steak and Ale. Only this time we will be doing it for ourselves.” Chris Sullivan was telling the story of how he started Outback Steakhouse, and...
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