Over the past 20 years, the S&P Small Cap Index (SML) has grown earnings 57% faster than the S&P 100 Index (OEX) (11% vs 7%) That makes sense – small caps grow earnings off a lower base and so don’t suffer from the law of large numbers And because earnings drive share prices it should … Read on
You’re worried it’s a bear market rally but want to retain some equity exposure so call your friendly macro strategist for advice Where should I hide? Real Estate – They’re not making it anymore, right? (oh dear, I knew this was a bad idea) And it provides a yield that we all need in this … Read on
is my favourite quote from, The Magic of Thinking Big, by David J Schwartz and when I look at the CNN Fear and Greed Index, I see Fear but when I speak to investors and advisors, there’s no Action Most are paralysed by Fear Either their own or their clients’ or a combination “How am … Read on
A nervous first-time cruiser asked the ship’s Captain, “Do ships like this sink very often?” No, replied the Captain, “usually only once.” I used to think the cruise ship industry had many hallmarks of a good business Yes, it costs big money to build big ships, but that means high barriers to entry, right? And … Read on
It’s the incredible story of twelve young soccer players and their coach who get trapped in a flooded Thai cave during monsoon season, 4km from the cave’s entrance The boys had to hold their nerve for days, in darkness and without any food, clinging to the faint hope that someone would find them… in time … Read on
That’s not its official name but it’s what Ryanair – Europe’s Favourite Airline colourful CEO, Michael O’Leary, calls the plane because it holds 4% more passengers, burns 16% less fuel, and reduces noise emissions by up to 40% A few EU Commissioners must be hoping the “noise emission reduction” rubs off on the outspoken CEO, but I … Read on
In April ’21, I read Conagra’s earnings call (CAG), & saw “inflation” 33 x and “accelerating” 9 x CPI was 2.6% 6 mths prior, “inflation” appeared 4 x zero “accelerating” And other food producers like Tyson (TSN)? same trend What about YUM (Pizza Hut, KFC) ? they buy the animals that TSN “processes”? Nothing? Kroger’s … Read on
Absolutely – Ozarks, Maid, The Crown all brilliant Well, you can’t be happy by the 21% fall in the share price after results? Doesn’t bother me – don’t own it But you said you love it? Well as I’ve said before, I love my mattress, but it doesn’t mean I buy a bedding company You … Read on
What parent hasn’t yelled those words to their kids so far this year? Am I right? Don’t all nod your heads at once, we don’t want to knock the earth off its axis Of course, WE know what’s best for them, don’t we? Now it’s just gone middle of the month so I’m guessing you’ve … Read on
Our Fund owns shares in ITV and they produce reality TV & game shows Which are good businesses Think about it The Cost of producing Love Island is basically: · £50k of prize money for their buff contestants,· the rental cost of a Majorcan villa,· a couple of cameras &· a fully stocked bar fridge – if they order … Read on