Tilson & Pabrai: A Change In Strategy Or Just Finetuning Tactics?

One of the toughest aspects of successful investing is maintaining discipline in the face of adversity. Every investment strategy will have periods of underperformance. Those unable to hold to their strategies in down periods risk compounding their woes. In my estimation, value investors have a harder task in this respect than do growth or momentum [...]

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Opportunities in Oil?

Kathy asks: I just read your recent post on Seeking Alpha discussing opportunities in the energy sector. If you had 10K would you put it in COP or one of the major integrateds now? Or where? RIG or SLB? Thanks for writing, Kathy. I won’t be making any specific recommendations but I’ve put together a [...]

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Blogging The Bears: A Book Review In 4 Parts (Part 3 – 1949)

In dedication to today’s awesome bear, I continue my Blogging the Bears series. Other parts in the series: Part 1 contains my bullet point summary of the book and the 1921 bear market. Part 2 details the 1929 – 1932 bear market. Part 3 describes the 1949 post-WWII bear bottom. Part 4 summarizes the 1982 [...]


Proof, Meet CNBC’s Pudding

I warned readers about falling for CNBC’s propaganda in a very long-winded rant last week. But sometimes five minutes of television can say more than a thousand words so I direct readers to this Daily Show clip and the consequences of taking CNBC’s talking heads seriously. My wife woke me up this morning with her [...]

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Portfolio Performance +2.1% Through February 2009

Click here to view the spreadsheet containing all disclosures for my complete equity portfolio, including initial entry points, YTD returns, total returns, etc. THE ENLIGHTENED-AMERICAN PORTFOLIO SPREADSHEET Enlightened-American Portfolio: +2.1% YTD (including dividends) DJIA: -19.5% Nasdaq: -12.6% S&P 500: -18.6% DJ WIlshire 5000: -17.8% Russell 2000 (smallcap): -22.1% Again this month, my posted portfolio shows [...]


Quick Thoughts On The Market

I have to make this quick. The Dow has dropped decisively below 7,000 this morning. I recall reading some articles talking about this or that important technical level on the S&P 500. I don’t know it matters much as its seems more likely than not that those technical levels will not hold. This move does [...]