Ladies and Gentlemen, We Are Trading On The Moon

This willful ignorance is occurring for the simple reason that we’ve been in an anti-gravity environment – where stocks bounce off of each piece of good news and bad news indiscriminately, each bounce propelling them higher still.

The End of the Easiness

You can put together as many lists of stocks and themes as you want, but overshadowing all of your investment theses will be the simple fact that in 2010 we’re going to see the End of the Easiness (apologies to Don Henley).

Big Ugly Winners of 2009

“Some companies that have shined in 2009 are expected to earn less next year than they did this year, which makes their 2009 stock gains suspect.”

Santa Claus Rally (reprise)

this post originally appeared on December 6th 2009 This post will be 99% anecdotal, 1% empirical, because I haven’t the time or energy to go dig up supporting data for what we all know:  Most years, the market rips higher during the week between Christmas and New Year’s Eve and this one week run is…

The Myth of the Moat

It’s not that The Moat doesn’t matter in stock selection, it’s that, like most analytic concepts, it doesn’t always matter.