In June this year, the NBER (National Bureau of Economic Research) announced that U.S. had entered an economic recession beginning in February. This recession came after the longest economic expansion in the US history—from June 2009 through February 2020—of about 128 months in … [Read more...] about Buy businesses that are recession proof
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Are we in a short correction?
This stock market crash is looking more like a short-but-deep correction than a conventional bear market. Since its March 23rd trough, the market has been relentlessly going uphill. As of today, the S&P 500 is just about 12% off from its prior peak level. Not that I am … [Read more...] about Are we in a short correction?
Investing in startups through SoftBank
I prefer investing in established well-run businesses that have defensible business models. Even though some of them are technology companies, I invest in them not because they are considered tech but because they have dug some level of economic moat around their businesses. You … [Read more...] about Investing in startups through SoftBank
An opportunity to invest in real assets
One of my all-time favorite authors on investing is Howard Marks. He is a practitioner (not an academic) but also has a way with words. It’s not just me—Marks’ memos are widely read. His first book, The Most Important Thing, was a best-seller. His memos—which he regularly … [Read more...] about An opportunity to invest in real assets
A gauge for my portfolio
A lot of investor underperformance comes from them trying their utmost to avoid seeing losses. Emotionally, losses hurt twice as much as gains feel good. But there is no way to avoid seeing short-term losses in long-term investing. It’s inevitable for a long-term investor to see … [Read more...] about A gauge for my portfolio