Blockbuster dominated the movie rental business. It had stores all over the U.S. Renting movies was a good business with good margins. The big drawback was when the movies were not returned on time. With a DVD sitting in someone’s… Read More
The irony of this post is not lost on us. An active manager excited about another active manager moving more towards factor and algorithmic based investing. On Tuesday, BlackRock laid out an ambitious plan to consolidate a large number of… Read More
Morningstar making the case for a long-term investment in Railroad stocks. One of the big reasons is taxes. The railroad stocks are not multinationals. They only operate in the U.S. and they pay the U.S. corporate tax rate. UNP Effective… Read More
Each position in your portfolio has a target weight, or ideal position size based on initial purchase. Around a position’s target weight we also assign a minimum and maximum tolerance band. Since positions are in constant fluctuation, the tolerance bands… Read More
With the new year we’re going to make our annual prediction about the U.S equity markets. But first we want to revisit some of the more memorable market predictions of 2016. “Sell Everything”- Andrew Roberts, RBS Strategist On January 11,… Read More
One my favorite new podcasts is the BBC’s 50 Things That Made the Modern Economy. Each episode is about 10 minutes long but packed with information. The latest episode discusses the greatest selling product in the history of the world… Read More
We originally bought Baxter as a special situation. At the time of purchase, the company was undergoing a corporate restructuring that would split the business into two publicly traded companies, Baxter (BAX) and Baxalta (BXLT). The old Baxter paid a… Read More
It’s Christmas time. A good time for Starbucks. Not because they will sell more hot drinks. They will. It’s because of all those Starbucks gift cards given out. You know you will receive at least one. Any funds loaded onto… Read More
The shave care industry is important to Procter & Gamble (PG). It is included in its Grooming segment and operates under the Gillete brand. Shave Care is a $15 billion industry with Gillete holding a 60% share. This is why… Read More
In the aftermath of Donald Trump’s surprise presidential win a lot of people are shocked and upset. They are upset for a lot of reasons, mostly personal and political, but I would like to add one more. The framing effect…. Read More
AMM Third Quarter 2019 Client Letter “History doesn’t repeat itself, but it often rhymes.” – Attributed to Mark Twain This summer marks the 20th