Guilty Until Proven Innocent
Many beaten-down bonds deserve to be beaten down and never to recover. A smaller number of issuers, also beaten down, do have the wherewithal to make good on their obligations and strengthen their balance sheets.
Publications
August 2025 Best Buys
We have added two new companies to our Best Buys list of stocks that we feel are at a price that investors should seize on now – a pharma company and a tech firm join the cutting-edge tobacco company.
A Cooties Shot
Most investors think of bonds as unspectacular but steady performers whose role is to stabilize a portfolio that also contains the higher-octane asset class of common stocks. But subscribers to our Distressed Investing research know there’s another side to the story.
More Important Than Any One Stock
Asset allocation – how investors invest capital across different asset classes like stocks, bonds, real estate, and commodities – is critical. In fact, research suggests that asset allocation can play a more important role in investors’ long-term success than which individual investments they own.
Trade Alert: Closing Venture Global Puts, Buying Albemarle Preferred Shares
We are recommending a two-part trade today: the early close of our existing put position in Venture Global, which will free up capital to open a new position in Albemarle preferred shares, as follows: Note: the Albemarle preferred shares are listed on the New York Stock Exchange and can be bought and sold like other
Fads, FOMO, And Financial Ruin
An investment fad is a short-term financial trend that quickly gains popularity and interest among investors – but typically lacks long-term viability or strong underlying fundamentals. You don’t need a deep understanding of finance – or physics, or astronomy – to spot fads. You simply need a strong mix of skepticism, market awareness, and knowledge of a few bright-red flags.
Trading Club Portfolio Update – Week 10
Each Friday, we provide an update on the current live tracking portfolio (as of the previous day’s closing prices), a summary of the last week of trading activity, and updates on any significant developments among the companies we have positions in.
Giving Orders To The Military
Legal monopolies all have similar traits: They have dominant market share, they have enviable pricing power, and given a lack of alternatives for customers, these companies likely have highly predictable and mostly recurring revenue streams. All of that means big profit margins that flow to the bottom line.
Not A No Brainer
Today Marty Fridson offers a word of caution for investors: The opportunity to purchase closed-end fund shares for less than the value of the assets they represent sounds like free money. But there’s a catch, he says.
The One Big Secret
The excerpt below from one of Porter’s classics is about one of the fundamentals of investing at the centerpiece of what we focus on at Porter & Co. Through market cycles, overhyped fads, and speculative trends, his approach to building long-term wealth has remained startlingly consistent.