What Would My Granddaddy Say?

“Son, I wouldn’t do that. It don’t make good sense.” “Yes, Sir.” “I told you once, and ain’t going to say it again, don’t do that.” “Yes, Sir.” The next thing I knew, I was literally knocked off my feet. My Grandfather ran a one-man HVAC service business in Alabama (yes, I called him Granddaddy). … More What Would My Granddaddy Say?

The Good Story – Part II

The past few weeks have a lot of people in the financial world making comparisons to the 2008-2009 financial crisis. This is understandable, as markets have fallen and day-to-day swings are reminiscent of the large one-way – and then the other-way – percentage point moves in 2008 and 2009. I remember those days well, as … More The Good Story – Part II

Watch the Cash Flow

The following is a quote from a breakfast that I recently had with a long-time senior executive and UHNW private direct-deal investor. “We all know that the D and A in EBITDA can be ‘delusional accounting’ but it is ‘accepted’ so we work it.” We were discussing how most everyone inside the business knows about … More Watch the Cash Flow

Rock Science

This past weekend my family was fortunate enough to spend time on Martha’s Vineyard and I smiled when seeing this old sign again. It has sat for many years at the edge of a grass airfield – a simple weather-divining device involving only a stone and some pithy instructions. It is a little worn, but the … More Rock Science

Holiday Colors

Try to stay focused on your goals and the often rewarding long-term green versus short-term red. On my way to the office this morning, I noticed many holiday decorations in red and green. They always bring me joy and I stopped to take the picture at the top of this post. Unfortunately, in the financial … More Holiday Colors

Don’t Cheat the Person in the Glass

Recently, I noticed a Tweet from someone asking for good advice for a 17 year-old. It made me think of a poem that I first heard when I was about 17. The CEO of a large company was speaking to a group that I was associated with and ended with the poem. I nudged my … More Don’t Cheat the Person in the Glass

Keep A Steady Hand on the Tiller

The market just dropped, again. Related to this, I thought it would be good to re-post this piece (a longer version was published in 2015).  Previously, I penned these lines: “If you followed the market today, you will have seen and heard quite a few market headlines that might raise concerns. The following are some … More Keep A Steady Hand on the Tiller

The Normal

Stocks Are Risky – This is Not the New Normal, It is The Normal The Dow Jones Industrial Average (DJIA) has dropped hundreds of points and has recently created alarming news headlines. This has not made any investor that I know feel good, but was this “The Normal?” Yes, this is a reference to “The … More The Normal

Are We Spending Too Much Time Selling Alpha?

I wrote this in 2014, and my feelings on this subject have grown even stronger over time. I’m keeping this very short in the hope that all will click the link below and then provide comments. Are We Spending Too Much Time Selling Alpha?

Still Gently Weeping

Just a simple note to pay tribute to an artist who created wonderful music and inspired passion in many. I will always remember going to see the movie “Purple Rain” and driving home from school blasting “Little Red Corvette“. Thanks Prince.  The memories that you created will stay with me forever. The magic starts below … More Still Gently Weeping