Morgan Housel’s The Psychology of Money – Timeless Lessons on Wealth, Greed, and Happiness is one of the thought-provoking books listed in the Books section of this site. Chapter 4 entitled Confounding Compounding touches upon why compounding can be difficult. The counter-intuitiveness of compounding may be responsible for the majority of disappointing trades, bad [...]
In times like this, it is no surprise many investors are experiencing some trepidation. Let them panic. You, however, should proceed knowing that corrections are healthy. Allow me to take you back in time to the mid-1970s when I was in high school. Several (most) of my high school courses never interested me. I never [...]
I last reviewed Veeva Systems (VEEV) in this December 6, 2024 post at which time the most current financial information was for Q3 and YTD2025. Unfortunately, Veeva is approaching fair valuation with the share price surge following the release of Q4 and FY2025 results after the March 5, 2025 market close. Let's have a look [...]
When I completed my 2023 year end portfolio review, S&P Global Inc. (SPGI) was my 8th largest holding. In early 2024, however, the Canadian Federal government introduced changes to the level of taxation on capital gains. This resulted in many Canadians having to seek professional tax advice. Following extensive discussions with our tax accountants, we [...]
Another month has flown by thus triggering this FFJ Portfolio - February 2025 report; all monthly reports are accessible here. Purchases In February, I deployed $105,188 and made the following purchases in the FFJ Portfolio. Becton Dickinson (BDX) 100 shares @ ~$226.86 on February 6. My BDX exposure within a 'Core' account in the FFJ [...]
I last reviewed Agilent (A) in this November 27, 2024 post at which time the most current financial information was for Q4 and FY2024. With the recent release of Q1 2025 results and an update to the FY2025 outlook, I revisit this existing holding. In my prior review, I state that if A's share price [...]
In this September 2019 post, I disclosed a new position in HEICO position with the purchase of 300 shares @ ~$99/share in one of the 'Side' accounts in the FFJ Portfolio. What prompted me to analyze this company was an article entitled The Greatest Investor You’ve Never Heard Of: An Optometrist Who Beat The Odds [...]
I last reviewed Zoom Communications in this November 26, 2024 post at which time I pointed out how stock-based compensation (SBC) distorts the company's Free Cash Flow (FCF). FCF is a non-GAAP metric. How companies calculate FCF is, therefore, inconsistent. ZM, for example, merely deducts capital expenditures (CAPEX) from its Net cash provided by operating [...]
One of the books listed in the Books section of this blog is Peter L. Bernstein's Against the Gods: The Remarkable Story of Risk. In this book, Bernstein delves into the importance of risk assessment. It traces developments from ancient times to the modern financial era and emphasizes the critical role of risk assessment in [...]
Investing is difficult unless you master your mindset. The math component of the investing process is not what makes investing difficult. The difficulty lies in our ability/inability to control our emotions. Investing requires us to understand how we react in various situations. After having invested for almost 4 decades, I distill my approach to investing [...]