Episode 22: Season finale! Vista Group and reminiscences of a glorious raging bull market

Is it time to cut and run?

Why higher prices are bad for stocks

There’s no surer deflator of markets as uncertainty. It’s the key ingredient to any bear market; the more there is, the sharper the falls. That’s why the coronavirus is wreaking such havoc. No one really knows how far it will spread, how many deaths it will cause and how long it will last. The potential economic impact ranges from ‘sharp […]

In a fair and just world, the only way to build wealth is to generate value for others. If you can enhance the subjective well-being of someone — either through your direct labour or by producing a good they desire — you can demand payment. Either in kind, or more likely money; that wonderful, civilisation-unlocking technology that has allowed human cooperation and coordination […]

What are the pros and cons for shareholders?

When it comes to investing, mistakes are unavoidable. Even the best investors get it wrong — a lot. But here’s the thing: it’s okay to be wrong, as long as you handle it the right way. The trick is to make sure being wrong is rare, quickly admitted to, swiftly corrected, and (importantly) learned from.  Rare, Not Never No investor can […]

“To invest successfully does not require a stratospheric IQ, unusual business insights, or inside information,” said Buffett in a foreword to Benjamin Graham’s The Intelligent Investor. “What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding the framework.” According to uncle Warren, factors like habits, character and temperament are what matter most. “What […]

Better tactics for better returns