I last reviewed Intuitive Surgical (ISRG) in this July 23, 2024 post at which time it had just released Q2 and YTD2024 results and shares were trading at ~$461. In that post, I state that ISRG was my 7th largest holding when I completed my 2024 Mid Year FFJ Portfolio Review; the share price at [...]
You can't fix stupid! I limit the time spent on social media platforms but wander on X or Threads in moments of weakness. Every time I do, my heart sinks and I long for the days before everyone and their puppy had internet access. Lately, it seems like 'learning how to trade' is a [...]
The following recent posts focus on the asset management industry. Brookfield Asset Management Exposure Increased Brookfield Corporation – Targeting DE of $5B by 2030 Consider Investing In Asset Managers Select Your Asset Manager Investment Wisely BlackRock – An Asset Manager Investment For The Long Term In keeping with the asset manager theme, I revisit [...]
In my October 16 Select Your Asset Manager Investment Wisely post, I state that there are some great firms in the highly fragmented asset management industry. One such industry participant is BlackRock (BLK) which I consider to be an asset manager investment for the long term. At the end of Q3 2024, it had ~$11.5T [...]
Select your asset manager investment wisely if you are remotely considering investing in an asset manager! On September 27, I published my Consider Investing In Asset Managers post in which I disclosed exposure to BlackRock (BLK), Brookfield (BAM.to and BN.to), and Blackstone (BX). My rationale for investing in these firms is that I want private [...]
When I last reviewed Paychex (PAYX) in this April 3, 2024 post, the most current financial information was for Q3 and YTD2024. In that post, I disclosed the purchase of additional shares @ ~$117.55. Fast forward to October 1. We now have Q1 2025 results and shares are trading @ ~$140.80 as I compose [...]
Avoid value traps. I suspect most of us look back on some of our investment decisions and ask 'what was I thinking!?'. I was lulled into investing in some value traps because of: attractive valuation metrics for an extended period (ie. price to earnings (P/E), price to cash flow (P/CF), or price to book value [...]
Lately, I have been giving more thought to how stock-based compensation (SBC) distorts Free Cash Flow (FCF). What If Employee Compensation Was 100% SBC? I have no objection to the use of SBC to reward employees. My concern is when it goes overboard. As a shareholder, I want the weighted average number of diluted outstanding [...]
In prior BlackRock (BLK), Blackstone (BX), and Brookfield (BN.to and BAM.to) posts accessible through the Archives section of this site, I touch upon why you should consider investing in asset managers. What Are Asset Managers? In September 2024, KKR (a leading global investment manager) published an excellent perspective of the past, present, and future of [...]
In my September 13, 2024 How To Think About Risk post, I include a link to Howard Marks' - co-founder and co-chairman of Oaktree Capital Management (the largest investor in distressed securities worldwide) - explanation about the character of risk, the relationship between risk and return, the misconceptions about risk, and how to think about [...]