Greedman Sachs

By | July 3rd, 2017|Advisor Insights|

By William Davis   “The point is, ladies and gentlemen, that greed — for lack of a better word — is good.” We got to thinking about the mythical Gordon Gecko last month when real-life Goldman Sachs bullied a good deal of bonds from Venezuela, perhaps the world’s most easily out-negotiated counter-party. [...]

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In To The Shadows

By | June 20th, 2017|Advisor Insights|

By William Davis   According to the Orwellian-sounding Financial Stability Board, “shadow banking” is credit inter-mediation involving entities and activities outside the regular banking system – lending, in other words, done by anything other than a bank. Gee, what could possibly go wrong with that. “There can be no doubt that besides [...]

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Hit The Road, Show

By | May 31st, 2017|Advisor Insights|

By William Davis   You might have heard that Spotify, the ubiquitous music-streaming service, is a Swedish company with a worldwide business. It is. And you might have heard that the still unprofitable firm – which is said to be valued somewhere around a thousand million billion dollars – is preparing to [...]

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Running Out of Options

By | May 15th, 2017|Advisor Insights|

By William Davis   History tells us that today’s option market can trace its notional roots back to ancient times, when one Thales of Miletus bet the farm on the season’s olive harvest. Story goes that the speculative Greek, having predicted a larger than usual crop yield, acquired the right to use [...]

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The Grass Is Always Greener, Dude

By | April 25th, 2017|Advisor Insights|

By William Davis   If you missed it — and if you’re gainfully employed you probably did — last Thursday was “Weed Day,” or as cannabis aficionados like to call it, uhhh 4/20 man. The term, we’re told, was coined in 1971 by a group of California fast time high school students [...]

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Beep Beep’m Beep Beep Yeah

By | April 11th, 2017|Advisor Insights|

By William Davis   Baby you can drive my car. Last month, GM sold 256,007 cars and trucks in the U.S. while Ford moved some 234,895 vehicles off the lot, the two big Detroit jalopies representing more than 31% of total domestic auto sales. Palo Alto-based Tesla, meanwhile, pumped out a whopping 4,050 of its [...]

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Flash In The Pan

By | March 28th, 2017|Advisor Insights|

By William Davis It’s likely that you first heard about high-frequency trading way back in 2014 when Michael Lewis published “Flash Boys”. In his book, the supremely talented Mr. Lewis described how high frequency traders, through the use of lightning-fast fiber optic lines, were taking advantage of investors by “front running” orders. Meaning they were [...]

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Snap, Pop, No Crackle

By | March 14th, 2017|Advisor Insights|

By William Davis Even if you’re not one of 158 million people who use Snapchat on a daily basis, you probably know that the parent company of the disappearing photo-and-video app went public last week. As it happened, Snap and its bankers priced the much-coveted IPO Wednesday night at $17 a share, only for the [...]

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Face Value

By | February 27th, 2017|Advisor Insights|

By William Davis   Pop Quiz: Who famously said: “If you want to have a better performance than the crowd, you must do things differently from the crowd." Circle the correct answer. A: Benjamin Graham B: John Templeton C: Warren Buffett While each choice represents a great investor, a great value investor more specifically, market [...]

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All That Twitters Is Not Gold

By | February 13th, 2017|Advisor Insights|

By William Davis   Question: What do the current Prime Minister of Australia, the former governor of California, and future federal funding for UC Berkeley have in common? Hint: messages from the White House in a limited number of characters. Yep, all three have been subjects of at least one tweet from President Trump over [...]

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