Investment Journal

Updated Thoughts on JPM’s Valuation

JPM announced earnings on Friday. I thought I’d review some brief thoughts, since it’s a stock I’ve discussed previously (along with the other banks as well). I don’t really care to go over the details of the earnings report, as I tend to think about the business from...

A Special Type of Kiwi

The difference between an amateur photographer and a professional is that you only see the best images of the later, but the former displays a lot of not so flawless images on his path to understanding what he needs to do better.  John and I wanted to create this...

China Preview and Some Thoughts on Moats

Over the past year, I've been steadily doing a lot of reading about China in general, and a few companies there specifically. China is a fascinating country to read about, with some real issues looming on one hand but some real long-term tailwinds on the other. Chanos...

Creativity and Value Investing

One foot hurdles are the best investments.  John texted me Thursday night asking which team I thought I would win the NBA Finals. Since I am on mountain standard time, my kids don’t usually go to bed until these games are almost over.  I replied to his text as my kids...

Foot Locker: The Outlook Five Years Hence

"But before he left, he taught me two things. Never, ever invest in the present. It doesn't matter what a company is earning, or what they have earned. He taught me that you have to visualize the situation 18 months from now."                                          ...

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