February 29, 2008 by Joe Ponzio

A few weeks back, I sent an e-mail to our advisers talking about the “no-brainer” type investments we are looking for. I wrote a nice, long e-mail (in true Joe fashion) about discounted cash flow and valuing businesses, about speculation versus investing – it was practically a novel in and…

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February 8, 2008 by Joe Ponzio

A common question among investors – both conventional and non-conventional – is: How should I allocate my portfolio so I am best prepared to capitalize on (or protect myself from) the coming years in the markets? Mutual fund, which were designed to, in part, shield people from volatility, aren’t living…

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February 6, 2008 by Joe Ponzio

How much is today’s gut-wrenching, hair-raising volatility worth? Let me ask a different way: After 40 years of investing in markets like these, how much more money would you expect to have versus investing in bonds and ignoring the markets altogether? $500,000? $1 million? $10 million? What if I told…

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February 2, 2008 by Joe Ponzio

Ever since I posted the analysis on Adobe yesterday, I’ve had this looming feeling that a little clarification was in order. Some of you are looking for reinforcement on your long-term, buy-and-ignore portfolio; some are really trying to find those heart-pounding, mouth-watering, back-up-the-truck deals in the markets. At today’s prices,…

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January 29, 2008 by Joe Ponzio

Somebody send Angelo Mozilo to jail. I can only think that it is a matter of time. If you think investing in stocks is as simple as looking at past earnings (or cash flow) and buying, you have another thing coming. As a silent partner in business, you have to…

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January 10, 2008 by Joe Ponzio

This post is totally out of sync with my 1950s & 1960s Buffett discourse; however, Night ran into a problem that needs fairly quick solving. His sister gave him a sum of money to begin investing and, after explaining how the markets work, that price follows value, etc., he purchased…

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January 8, 2008 by Joe Ponzio

If you recall from an earlier post, I showed a quick potential profit from Sharper Image – in that case, a few-day return of more than 40% because the stock was trading so far below its break-up value. As time marches on and the ability to generate cash seems a…

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November 6, 2007 by Joe Ponzio

People are always asking me about “must read” books on business, investing, and other topics to help with their investing. One of the finest “Buffett” books on the market is Lawrence Cunningham’s The Essays of Warren Buffett: Lessons for Corporate America. Unlike most books that try to pick apart Buffett’s…

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November 2, 2007 by Joe Ponzio

Sorry all – the Chicago cold kicked my butt for two days. Let’s get back to business. The Federal Reserve cut the federal funds rate by 25 basis points (0.25%) and pumped $41 billion of short-term reserves into the markets – the biggest liquidity infusion since September 11, 2001. One…

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October 30, 2007 by Joe Ponzio

Shortly after posting the biggest quarterly loss in the company’s history, Merrill Lynch fired CEO Stan O’Neal. On the news, shares of Merrill Lynch (MER) dropped 2.1% before today’s opening bell – immediately wiping out $1.2 billion of market cap. Come on – did Merrill’s business really take a $1.2…

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