Part I: Observations from Israel
So we’ve finished two breathtaking days in Israel on the Texas Trade Mission, to increase business between Texas and Israel. The first evening we spent with Avi Dichter, Chairman of the Foreign Affairs and Defense Committee in the Knesset, the Israeli Parliament, and former director of Shinbet, the Israeli internal security service. We then had […]
Remembering Governor Clements
In late January, the Clements alumni gathered at the Governor’s Mansion to celebrate the 40th anniversary of Governor Clements’ first election as Governor of Texas. Since Governor Clements ran 3 times and won 2 out of 3, there were a lot of staffers. But even accounting for that, for 80+ people to show up says […]
It’s Time for Caution, But Not for Flight
One of the smartest, wisest investors you’ve never heard of is a man in Boston named Seth Klarman, who runs nearly $30 billion within a firm called Baupost. He’s generated enormous returns over many, many years, and has become a billionaire. He’s one of 2 or 3 “E.F. Huttons” out there in the modern day […]
Covington Catholic Incident Exposes Need for 21st Century “Reformation of Manners”
The controversy over the Kentucky catholic school boys trip to the March for Life over the weekend, and their interplay with a group of activists and a separate Native American activist resulted in widespread condemnation of these minor children, and calls for societal ostracism and even outright violence as their deserved punishment. Leftist, anti-Trump forces […]
Strategies for the Intelligent Investor in Today’s Market
The intelligent investor knows and understands, unemotionally, that outside of Armageddon it is impossible to lose all your money in the stock market. There has been one 10 year period in the history of the stock market with negative returns, and zero 20 year periods with negative returns. Markets can stall for years, and provide […]
Markets Face Headwinds, But There Is Still Good News
Confusion reigns in the US markets. Bonds had their worst year in over a decade, and stocks closed out the year in bear market territory after being positive most of the year, down approximately 6% for the full year and 11% in December alone. 2019 has started more positively, with a small bounce from last […]
Term Limits Have a Chance — If Done Right
Last week came the news from Washington that term limits are being proposed by Senator Ted Cruz and Congressman Francis Rooney: 6 years for the House and 12 years for the Senate. My first instinct is to applaud both men for proposing this, as all levels of government desperately need term limits to thwart career politicians, abuse of power, and arrogance; and to further […]
Wise Investing in Volatile Times
One would have to be pretty oblivious to the financial markets not to notice abnormally high volatility the past few months after many years of equally abnormal tranquility. Markets were down 11% domestically in December, and the second and third trading days of 2019 were down 660 points and up 740 points, respectively, on the Dow Jones Industrial averages. […]
Romney Should Stop Sideshow, Focus on Being Senator
I’ve known Senator Mitt Romney for over a decade. Know him very well. He spoke to the Legacy group I co-founded multiple times, and when he first ran for President in 2007-2008, I introduced him all over Texas to further his presidential run. He’s a fine person with a world-class intellect and an outstanding family. […]
Patience in Investing: A Key to Success
Apple’s earnings miss last night is being overreacted to, as almost all earnings misses by major companies lead to a violent reaction by short-term traders abandoning a stock newly bereft of near-term prospective price momentum. But there are more important issues here than a single company’s quarterly earnings miss, whether that miss is related to […]
