At Porter & Co. we are determined to be your best source of investing, economic, and financial insight, and your first choice for information about what to do with your money… in the entire world, bar none.
This is Porter & Co.’s Sunday Investment Chronicles. Every week, the Porter & Co. research team pores over thousands (and thousands) of articles, reports, social media posts, analyses, regulatory filings, and anything else we can get our hands (and eyes) on to understand what’s happening in the world of investing and finance – and to uncover the most original, compelling, and double-head-fake ideas…
… and we curate the best of those here. We do it all the old fashioned way: Hours of reading and brainpower (no AI curation here). We read everything – for you.
In Case You Missed It… What We Published Last Week
In Monday’s Daily Journal, Porter shared his “One Big Secret” – the only real truth in finance that he says every investor should understand:
Some companies are much better than others at compounding capital. Much better.
If your goal as an investor is to compound your savings over time, wouldn’t it be easier to simply figure out which companies will compound your capital at an acceptable rate, buy those firms (and only those firms) at reasonable prices, and then do something else with the rest of your time?”
He explained how the greatest investor of all time, Warren Buffett, built his fortune around that principle – buying simple, capital-efficient businesses that compound wealth year after year. Porter called them “financial antigravity machines,” companies that earn high returns on assets, face little risk of disruption, and reward shareholders with steady, predictable growth. He concluded:
Whether you’ve got three decades to invest or only one, you should aim to produce the highest possible annual return without putting your capital at undue risk. There’s not a safer investment approach than this one.”
On Wednesday, Porter unveiled his latest major short idea – Target (TGT), a company he’s dubbed “the new Kmart.”
He warned the once-beloved retailer has entered terminal decline. Sales are falling, store traffic is shrinking, and management is slashing capital expenditures just to protect the dividend. Under incoming CEO Michael Fiddelke, Target plans to close more than a hundred stores next year – a move Porter compared to the death spirals of Sears, Rite Aid, and Bed Bath & Beyond.
This is not a cycle. This is Kodak in the late 1990s… Target is the new Kmart, being destroyed by the modern Wal-Marts – Walmart, Amazon, and Costco.”
On Thursday, we published our latest recommendation for Complete Investor subscribers, detailing an exciting opportunity to earn A 13% Yield Backed By The Government:
Normally a low-risk investment like this would offer pretty bland potential upside in return. But the business is at a unique point in the cycle, effectively a trough in conditions that appears poised to move higher in coming quarters. And even if things take longer to turn upward than expected, the dividend yield alone pays investors to wait. This is a rare find in today’s market driven by artificial-intelligence (‘AI’) fervor.”
And on Friday, Porter shared a sobering warning about Social Security, noting some uncomfortable truths about America’s largest entitlement program, and explaining why a crisis is much closer than most people believe.
Your contributions don’t belong to you. There is no actual account with your name on it. All of your ‘contributions’ were merely taxes and you have no legal right to them, at all.”
Citing decades of negative real returns, a collapsing worker-to-beneficiary ratio, and the Social Security Administration’s $2.4 trillion in “worthless IOUs,” Porter warned that the program will run out of money by 2029 or 2030.
His proposed solution: take the program out of the government’s hands entirely… And replace it with a privately owned, professionally managed structure that invests real capital and provides real returns.
If we don’t fix Social Security in the next five years, it is going to wipe out an entire generation of Americans – Gen X. And there will be nothing left for Millennials or Gen Z either.”
The Best Things We Read Last Week
Out of the hundreds of sources of investment, finance, and economics news and insight we regularly review – our Bloomberg terminal, hedge-fund letters, annual reports, the financial news media, Securities and Exchange Commission (“SEC”) filings, investment newsletters, newspapers, X (Twitter) threads, conferences, podcasts, and more – here’s what we’ve read that we think you might find interesting.
Markets And Economics
The Legends Speak
Investment Ideas
Government Bonds And Credit
Corporate Bonds And Credit
Special Situations: Activist Investing, Spinoffs, Arbitrage, Mergers and Acquisitions (M&A), And More
Energy
Bitcoin And Crypto
Jon Najarian’s Patent-Pending AI
Presented by Banyan Hill Publishing
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