What’s Your Plan Z?: What to Do When Things Go Bad
When things get really bad, escaping to the Grand Canyon is not enough. You need cash, passports, food, and all the right investments. Kim Iskyan explores Plan Z.
October 2024
Quiet And About to Boom
Covering everything from workers’ compensation to terrorist attacks, the founders of this insurance company are excellent stewards of shareholder capital and they oversee a disciplined and profitable underwriting process, generating high margins and increasing market share.
Bonds and Liar’s Poker at Salomon Brothers
Just a few years before Michael Lewis was at Salomon Brothers, eventually writing his best-seller Liar’s Poker, Porter & Co. Distressed Investing analyst Marty Fridson was in another part of the building at One New York Plaza, identifying profitable trade opportunities in the debt market. He shares details in today’s Journal.
Be Careful of Averages When It Comes to Distressed Debt
When investing in distressed debt, be very selective about which distressed bonds you buy. Buying a market basket of assets – a quick, efficient way of adding to equity holdings – is not a smart alternative with distressed debt.
Meet Bank of America’s CEO – The Worst Investor in History
One-third of the reserves of our biggest banks are deeply underwater today. As Porter writes, Bank of America is in a deeper hole than all of them. And even if you don’t keep your money there, you might end up paying for it.
It’s Wall Street’s Secret
It’s no secret that Warren Buffett has been selling shares of Bank of America. These details are public. What nobody has figured out is why Berkshire has sold almost all of its bank stocks since early 2020.
A Gold-Stocks Moment
Nearly a decade ago, Porter made a big gold-stock recommendation that generated massive returns. Now we see another huge opportunity in this space. In fact, this setup could prove to be even better than the last one – because there is one key difference now.
Compounding Quality
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Why the Next Decade Will Look Like the 1940s, Not the 1970s
Central-bank gold buying increased enormously after COVID. So far in 2024, demand is surpassing those record amounts, with 483 tons purchased in the first half of 2024 – a new record. Who is buying? The countries that have firmly rejected American hegemony.
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