Wall Street’s Recovery Still Unconfirmed

We are in the midst of earnings season and beyond the handful of companies with economic moats, there is little evidence to support Wall Street’s view that economic recovery is underway. The dichotomy between the financial world and the real world was one of the main culprits which led to the crisis of 2008. Unfortunately, [...]

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Green Signals Caution

The title to this post could be somewhat redundant for those who follow a value-investing philosophy. As Seth Klarman might suggest, risk-adverse investors should always exercise caution whether the economy is sprouting green shoots or withering away, during bull and bear market alike. In his classic tome, Security Analysis, Benjamin Graham counseled investors to treat [...]

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Bill Gross and Scott Black Wary of US Assets

Both are members of Barron’s Roundtable and are making the rounds on the Bloomberg media circuit, sounding rather sour on the US economy: Gross Says US Won’t Be Able to Exit From Aid Programs Delphi’s Black Calls S&P 500 Index `Overpriced’ Gross’ comments regarding the structural changes occurring in the US economy are elucidated in [...]

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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 [...]


CNBC’s Propaganda

CNBC’s coverage this morning in the wake of Obama’s budget plan is laughable and pathetic. Obama’s “War On Wealth”? Are they presenting news and analysis or is simply a monied version of conservative talk radio? On Obama’s budget plan, I confess ignorance to the fine details. Not only that but I paraphrase Seth Klarman’s wise [...]


Mainstream Financial Media Finally Waking Up?

In this week’s Barron’s (yes, this week’s — I know I said I don’t read the new Barron’s when it comes out but here is full disclosure: when the new Barron’s drops on my doorstep, I will pull out the middle Market Week section and read that over the weekend as well as Alan Abelson’s [...]

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