What’s in store for 2021?

Happy New Year! I trust everyone had a safe and healthy holiday season. If you told me back in March 2020 we would end the year with a positive rate of return I would never have believed it. Yet here we are living in one of the most uncertain times of a generation and...
Security Financial Update

Security Financial Update

It looks like 2018 will be the first year since 2008 where all the major indices are negative for the year.  Since 2008 we had an upward trajectory in the market with no recession since the Great Recession of 2008-09.  We are now showing signs of a late-cycle market...
Fundamentals or hype?

Fundamentals or hype?

Does the average person buy a stock/business because they understand the business model, they understand it’s competitive intelligence, it’s barrier to entry for the competition, and their financial position?  Or do they buy based on hype?  I am writing this note due...