Newsletters

Goodnight Chet….Goodnight David

With the advent of the Internet—and now Facebook, Twitter, YouTube and the like—the role of the news media has been forever transformed. Given this, it is more important than ever to take “news,” and media-driven investment research for that matter, with more than the traditional grain of salt; and better a cubic foot sized dairy farmer’s salt lick. In this newsletter we talk of the transformation in the media business model and the implications for both investing and the American psyche—as if there were a difference between the two…

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Don’t Be Wall Street’s Chump

Investing in stocks of public companies can generate returns which exceed those of fixed income alternatives and the rate of inflation, but one must tread carefully. As we look at the thousands of public companies available to us, we divide them into three categories. First are newly minted public companies (IPOs) that have in many cases already had the “upside” …

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Thanks Skip

In the midst of the 2008 market correction, we received a note from Hans W. Wanders, the retired Chairman of Wachovia Bank. Skip, as he is more commonly known, served Wachovia from 1970-1988 when the bank had the reputation of being the strongest regional bank in the country. His comforting words came during the very uncomfortable month of October 2008 …

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Steinbrenner, Bernanke & Buffett

With debates raging about the fiscal health of our country and how best to further jumpstart a sluggish recovery, the Federal Reserve has recently grappled with renewed fears of deflation while the IRS’s “accounts receivable” took a serious hit. George Steinbrenner headed for the “great ballpark in the sky,” conveniently when the estate tax was temporarily zero, while Warren Buffett …

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Wall Street Transparency… Clear as Mud

As America re-regulates its financial system we hear plenty about conflicts-of-interest, disclosure, and the regulatory differences between investment advice deemed “suitable” for clients and, alternatively, offered in clients’ “very best interests.” At Hamilton Point we believe the debate should be less about disclosure and more about aligning incentives, and think our fee-only business model with the highest fiduciary responsibility is …

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