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.
Porter’s Daily Journal
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.
The AXIS Turnaround
In P&C insurance, our average return has been 66% over the last three years, with an average holding period of about 18 months. That’s more than double the S&P 500’s returns over matching periods. And we had no losing positions.
Simple Things, Done Right, Will Make You Rich
This year, says Porter, has been a great opportunity to establish your own “Hershey Retirement Fund,” and I hope you’ve taken advantage of it.
How To Value Bitcoin
Porter explains today that Bitcoin’s price and its intrinsic value are understandable (and predictable) using standard economic metrics. And even if you’ve never understood the first thing about the internet or Bitcoin, you can easily understand (and predict) its price.
Too Much Of A Good Thing
Private credit growing too big too fast is coinciding with the product becoming increasingly available to ordinary investors through exchange traded funds (“ETF”). The story is instructive to both debt and equity investors.