November 27, 2008 by Joe Ponzio

Second only to Do you think we’ve hit a bottom?, the most common question I hear from folks is: Where should I be (or are you) putting money these days? It is usually followed up with some statement about how terrible the stock market is and/or how impossible real estate…

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August 21, 2008 by Joe Ponzio

We’ve been having a little discussion over on this post about the original purchase, current state, and future prospects of American Eagle Outfitters. The stock is down roughly 50% from our original purchase which begs the true value investing question: Is it down…or is it cheap?

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June 4, 2008 by Joe Ponzio

When you buy stock in a company, how long do you plan on holding it? Forever. Ideally, yes. But we live in the real world – a world of wildly fluctuating stock prices that often turns otherwise sane investors into panicky, self-doubting lemmings. As stock prices drop…lower…lower…people tend to second-guess…

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May 27, 2008 by Joe Ponzio

Building on a theme started back in March (How Bad Will This Get), I think it is safe to say that the US economy is weakening. We can choose to ignore the fact that millions of homeowners have zero equity and super-high mortgage payments they can’t afford; we can pretend…

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February 6, 2008 by Joe Ponzio

In Workouts Work Out In Down Markets – Part 3, I discussed another workout opportunity in the acquisition of Radiation Therapy Services (RTSX) by Vestar Capital Partners in a going-private transaction. The deal was pending shareholder approval and customary closing conditions. Since that post on January 21, 2008, the price…

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January 23, 2008 by Joe Ponzio

I’ll have to finish Workouts Work Out on Friday. Let me get some housekeeping done regarding the book and the markets. I’m not going to give you the standard “stay the course” or “now is the time to buy” garbage – there are plenty of other places to go for…

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January 7, 2008 by Joe Ponzio

Welcome to 2008 all. I am going to spend the next day responding to all of the comments from the past two weeks. Let’s get to the heart of the matter: What is going to happen in 2008? It is a question I have been hearing for the past three…

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December 17, 2007 by Joe Ponzio

The markets have done some crazy things the past few days weeks months years. In fact, it is enough to make one’s stomach turn. That is, of course, until you remember the key to owning stocks: There is a business under there – and that is what drives the long…

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October 25, 2007 by Joe Ponzio

In the earlier years of his investing career, Buffett is said to have had more ideas than cash-a situation that has reversed itself as Berkshire’s asset base has swelled. In 1999, Buffett reportedly claimed he could earn 50% a year in the stock market if he had just $1,000,000 to…

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October 9, 2007 by Joe Ponzio

If you aren’t familiar with beta, it is the measure of a stock’s volatility in relation to the rest of the market. If a stock has a beta of 1, it tends to move up and down at the same pace as the markets. Stocks with a beta greater than…

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