Trying to understand Wall Street skeptics

Is Artificial Intelligence just another bubble? The answer seems to be “yes” for many technology stock analysts. Listening to tech company […]

What’s happened since January?

Earlier this year, the markets were shocked by a Chinese AI model called DeepSeek. Lots of hasty conclusions were drawn by the media […]

September and October are often difficult for stockholders

September is historically the worst month for stocks and October has provided investors with some of the most historically […]

Something we haven’t heard lately

Nearly ten years ago, I needed to call one of our largest clients at the time to let him know that his […]

The Monoperator Business

The natural state of capitalism is a hyper-competitive race to the bottom in both prices and profit margins. Think Walmart, Costco, and Amazon. These […]

The persistent worry about economic decline

One careful reader of our April letter on uncertainty (The Tariff Panic) asked why I argued […]

Your May statement contains some pleasant surprises

If you began a South Seas cruise in early February and forgot your cell phone, and then ignored the news […]

All businesses are not the same

We spend a lot of time discussing great businesses, because that’s what we believe will produce the best investment results. But […]

And not by over trading

For most professional investors, managing risk means trading. Generally, that means selling something that has some potential for loss and buying something […]

Buffett says goodbye

It is safe to say that Dock Street wouldn’t have happened without Warren Buffett. I certainly didn’t start out as a Buffett style investor. […]