Season Investments

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INSIGHTS

The Short Game Stops

Posted on Feb 9, 2021

The GameStop saga that unfolded last month was one of the most interesting market events we’ve seen. Rather than recycling the same information we will address a few misnomers that we think have worked their way into the popular narrative as well as touching on how this event fits into some broader themes.

Seeds of Our Own Destruction

Posted on Dec 1, 2020

Morgan Housel is one of our favorite financial writers. He recently published a longer article entitled The Big Lessons From History in which he offered up four important lessons from history that repeat the same story again and again. One of the lessons entitled Calm Plants the Seeds of Crazy is the inspiration for this week’s post.

Back In The Tool Bag

Posted on Nov 3, 2020

Given recent performance, and for the reasons above, our confidence in intermediate-term trend following as an effective risk management discipline for stocks has been severely shaken. While this doesn’t change our dedication to and belief in proactive risk management, we are deciding to put this particular “tool” back in the bag, at least for the time being.

No Time Like the Present

Posted on Sep 29, 2020

Refinancing a mortgage is about as fun as doing your taxes or getting or getting a flu shot. But even though the process is long and laborious, significant savings can be gained for those willing to take the plunge. We often are asked if it is a good time to refinance and our typical answer is the very unsatisfying “it depends.”

Perpetual Money Machine

Posted on Sep 15, 2020

Today, the same hubris that mankind showed for hundreds of years in chasing after a perpetual motion machine is being manifest in the stock market through a relatively new strategy we will call the perpetual money machine.

The Inexplicable Teflon Market

Posted on Aug 25, 2020

Heading into this year if you would have described everything that would transpire to this point, there is simply no way we would have thought it possible for the broad equity market indices to be in positive territory - let alone for the Nasdaq to be up over 30%!

This Is War

Posted on Aug 4, 2020

The COVID-19 data has kept us all on our toes, with the curve seeming to have flattened before turning back up over the past two months as lockdown measures have been relaxed. The economy remains bound up in uncertainty, although there are clear pockets of strength and much of the data has come in better than the direst expectations.

Large Risks, Large Opportunities

Posted on Mar 10, 2020

Two weeks ago we described how the global reaction to the coronavirus had begun sending shockwaves through financial markets. The situation has continued to evolve rapidly since then, and although the continued spread of the virus was more or less expected the fallout in financial markets has been more severe than anyone could have anticipated.

Well That Escalated Quickly

Posted on Feb 25, 2020

Yesterday and today were bad days for the global stock markets with all three major US stock indexes down over 6% cumulative. The coronavirius has been making news for over a month now but during that time most major stock indexes have continued to climb to new record highs. So what changed yesterday and to a lesser extent on Friday and today?

The Poster Child

Posted on Jan 28, 2020

In last week’s post I explained why Amazon pays little to no federal income tax even tough their profits have continued to rise. This has become a hot topic on both sides of the isle who have used Amazon as the poster child for why our current system of economics is so broken. But is Amazon really doing anything wrong?

Taxing Amazon

Posted on Jan 21, 2020

Few would argue that one of the most disruptive companies in recent history has been Amazon. Founded a little over 25 years ago the venture has grown to be one of only a handful to crest $1 trillion in market capitalization. But lately the company has been receiving attention for a different kind of achievement – its $0 Federal income tax bill.

Sinking Our Way to Happiness

Posted on Jan 7, 2020

As is common around this time of year, many people are making resolutions to better themselves in some form or fashion including money related goals. Over the years we’ve written a number of posts about personal finance including several on the importance of building financial freedom through budgeting. In today’s post, we’ll take a new look at this important and timely topic.