On February 25, 2016, an article appeared in USA Today where journalist, Steven Petrow, tells the story of his computer getting hacked while on a flight to North Carolina. He was using the Gogo internet service to work on an article about the potential impact of the Apple FBI case on ordinary Americans. A passenger … Continued
Ford Motor Company recently announced that it will build a new assembly plant in Mexico designed to increase output by approximately 500,000 vehicles, more than doubling the company’s capacity there. Detroit auto makers have long assembled cars and trucks in Mexico. Now, faced with increasing pressure to market smaller, more fuel efficient vehicles that are … Continued
Most consumers’ interest in better vehicle fuel economy is limited to saving money at the gas pump and the environmental damage associated with burning fossil fuels. With significantly cheaper gasoline, the economic incentive to reduce fuel consumption is materially diminished. The environmental issues remain the same. With average U.S. fleet fuel efficiency approximating 25 miles … Continued
My colleagues and I frequently discuss the investment choices that we did NOT make for clients and, in hindsight, express relief in our decision. As is obvious to many experienced investors, Wall Street is a “product factory” and most are for the benefit of the provider versus the investor. But, they typically come with very … Continued
The administration has proposed a $10 per barrel tax on oil producers to fund a sweeping set of green transportation initiatives. The tax would be phased in over a period of five years and is being billed as part of the fight against climate change. Investors should note that this is, in effect, a $0.25 … Continued
California’s drought conditions continue to reflect the effectiveness of conservation measures and increased precipitation. The state’s second snow survey indicated that the snow pack was at 130% of average at the measurement point in the Sierra Nevada. Reservoir levels are up, but still well below desired levels. El Niño-fueled storms have delivered January rainfall at … Continued
In making investment decisions it is important to understand the difference between that which we know and what we believe. They are not synonyms. According to Dictionary.com, know is defined as, “to perceive or understand as fact or truth; to apprehend clearly and withcertainty.” Believe is defined as, “to have confidence in the truth, the … Continued
In the morning banter amongst hosts on the television business channel CNBC recently, a comment was made about the veracity and accuracy with which some high profile investors prognostications are assigned when speaking through the media. Most investors are aware of the overwhelming success of these legendary investors such as Warren Buffet or Peter Lynch … Continued
The following phrase is taken from then Secretary of Defense Donald Rumsfeld’s response to a question during a news briefing on February 12, 2002. “Reports that say something hasn’t happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know that there … Continued
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