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The Midsummer Derby – 2023 – Archangelo and a rainbow
i.It's not a large field but it's one of the most interesting - it's the Travers Stakes, which pits the winner of the Kentucky Derby [Mage] against the winner of the Preakness [National Treasure]...
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Kahneman Predicts
Interesting Kahneman presenation and Q&Avideo at CFA Institute event https://blogs.cfainstitute.org/investor/2018/06/08/daniel-kahneman-four-keys-to-better-decision-making/Good bits“Is the world...
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Bill Gross interview: From clipping coupons to golf with realtors
Bill Gross interview-Key insights from the pod:What it was like trading bonds in the 70s — 1:41Surviving a bear market — 2:48The origins of active bond trading — 3:49How much of Bill’s success was...
View ArticleHoward Marks on Bloomberg Wealth with David Rubenstein
Why be an investment professional why not go intoum climate change work or something likethat ? well I I wouldn't tell anybody whatthey should do what I would say is thisinvesting is a fascinating...
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Unintents
Niall Ferguson continues to bug me, but he did point out some interesting economic/political history in a piece on Unitended Consequences for Bloomberg. I label this for both Finance and Horse...
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Why are utilites so bad?
Jim Kramer: "I told you last night the rapid rise in interest rates has changed the calculus of this market, [and] the stocks of companies that rely on financing because borrowing money has gotten a...
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When to sell
According to USA Today, you should sell a stock if it falls 10% or more from what you paid. Investors understand that it's difficult to get back to even after a loss greater than 10%. According to IBD...
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Chevron cash flow from operations falls
Free cash flow (FCF) is an important metric for evaluating Chevron (CVX). That outlook is a bit muddier today than a couple of weeks ago, I’d wager. The company’s cash flow from operations fell to...
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Google in the Season of the Switch
Company remains focused on durably re-engineering cost base while supporting growth priorities - most important of which is that magic word: AI.The most important metric for GOOG Alphabet is revenue...
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Investor Munger Passes, at 99
Charlie Munger, vice chairman of Berkshire Hathaway (BRK-A, BRK-B), right-hand man to Warren Buffet, and a legend of the investing world, died on Nov. 28 at the age of 99. He thought and lived in...
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Hoist the Gold, Velasquez, Stewart nab Cigar Stakes 2023 honors
We usually mark the Cigar Mile as the end-point for the long racing season. The run up to today’s event seemed muted, as you might expect, given its Autumnal pallor. Given its demotion to a Grade 2....
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Wisdom of Wiggins
When Valuation MattersThis is not an argument that valuations do not matter, but rather there is no reason to believe that they will matter on any given day, nor is there a constant search by the...
View ArticleThe guy who always is shown when they show The Floor of the Exchange: Speaks!
"I'd rather buy into a rally than catch a falling knife." - Peter Tuchmann
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As the Year Turns - 2023 to 2024
copy to comecopy to comeAnd a word on horse racing. Was on vacation from the Sport of Kings. And, tabulating year just passed. My final tab says down at about the rate of the take. So mostly pay for...
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Streetwisenheimer
Wall Street Journal Streetwise columnist James McIntosh has a quick valuable piece of thinking on where markets are headed. He admits like everybody else that he was wrong going into 2023. He takes...
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The Fed wonk that saw the Black Swan
There's often somewhere someone who somehow saw a big slice of a black swan ahead of time. The rich's edge is to have subscription/journalist tracking arcane matters that show what is next. After the...
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Don't count on a soft landing, Mister!
Have shared the views of Randall W. Forsyth before. The Barrons’ editor and columnist has the job most every week to make sense of what’s going on. That being the job, it is pretty difficult not to get...
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Holy Macro!
Howard Marks 2024 letter makes some salient prescients on big stuff. He posits: "The investment environment in the coming years will feature higher interest rates than those we saw in 2009-21....
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Catalyst Call
Jeanna Smialek writing in NY Times Feb. 13, 2024 Inflation cooled less than expected in January and showed worrying staying power after volatile food and fuel costs were stripped out — a reminder that...
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