The efficient market hypothesis tells us that a stock’s intrinsic value cannot suddenly increase without reason. When the reason is clearly hype, investors might be served to do the unthinkable – engage in a bit of market timing and take some profits. That’s what we did with shares of Desktop Metal (DM) back when we […]
The stench of American politics has gotten a whole lot worse lately in Portland, Oregon, a city with squalor that makes third-world favelas look orderly and structured. Take a drive through the city’s main arterials and you’ll quickly notice all the crudely erected structures with garbage overflowing onto the streets. Instead of addressing this gaping […]
A remarkable number of people ask the Ministry of Truth, Google, which stock is “the best” to buy. Never mind how ambiguous the term “best” is, market timing alone can mean two people investing in the same stock, over roughly the same time frame, can experience two very different outcomes. For us, “best” means the […]
Our recent piece on AvidXchange talks about how small to mid-sized businesses (SMBs) in the United States represent a $20 billion opportunity for B2B payments automation. Alongside that opportunity is an additional $20 billion from offering supply chain financing products. A $40 billion total addressable market (TAM) is sizable, but pales in comparison to the […]
They say that the difference between an accountant and a lawyer is that the accountant knows they’re boring. It takes a certain type of person to finish a managerial accounting class and conclude that T-accounts are their life’s calling. As uninspiring as accounting might be, it’s a critically important part of every business out there […]
Long before Anthony Bourdain became a household name, he was a cult figure among restaurant workers everywhere because of his first work – his magnum Opus One – Kitchen Confidential. Finally, someone adequately captured what happens behind those swinging doors. The illegals in the dish pit, the convicts in the kitchen, the pervasive drug use […]
Hong Kong is often in the news for all the wrong reasons. What most HK residents would probably want you to know is just how much they love their city. Politics aside, when nearly 28% of a city’s population takes to the streets to protest at the same time, it tells you something. These people […]
Certain professions attract more self-important people than others, but none more than finance. It’s quite comical when you consider that over the long term, 95% of active managers – those who try and beat a broader market benchmark – cannot. There is no special magic required to be a good investor. Useful financial concepts can […]
Finding about the merits of a given disruptive technology stock late in the game makes it tough for new investors to establish an entry point. Ideally, you identify a portfolio of stocks you like, and buy a little bit each month with the extra income you have because you live below your means. Then, you’re […]
When you spend your days producing insightful articles and giving them away for free, you need to conserve your costs so that you can make sure the MBAs who produce the stuff receive a fair wage. In other words, when you’re bootstrapping you need to count your pennies. The world is your oyster, so you go to […]