The Language of Investing
So much of our conversation assumes that each word has only one meaning, no matter who uses it. But my experience is that different people have different definitions for the same words–which is one reason I think there is so much confusion surrounding investing today, and why I think it is useful to look at the multiple definitions that exist for some common investment terms. I want to start with what most people might think are statements of investment fact, but that I think are statements of investment opinion: Statement 1: Stocks are riskier than bonds. Statement 2: You [...]
A Walk Down Memory Lane
Read Ron’s essay about his experiences since 1965. Ron has lived and invested through the ups and downs in the market and the economy. Click here to view A Walk Down Memory Lane
Value Investing Live Recap with Ron Muhlenkamp
GuruFocus invited Ron Muhlenkamp to be a guest speaker on the Value Investing Live series. During Ron’s presentation on August 18, 2021, he covered the following topics: • The Problem with Inflation • Inflation, Business Cycles, & the Population • Failure of Macroeconomics • Fundamental Value • Life Cycle of Industries • Market Corrections • Audience Q&A Graham Griffin, Editorial Assistant at GuruFocus published the following article, “Value Investing Live Recap: Ron Muhlenkamp,” which includes a link to Ron’s presentation. We hope you enjoy the summary and the video! Please note that clicking here leaves the Muhlenkamp and Company website and [...]
The Goal of Investing
SOME PEOPLE SELLING INVESTMENT ADVICE SPEAK OR WRITE OF “DIVERSITY” AS IF IT WERE THE GOAL OF INVESTING. IT’S NOT! THE GOAL OF INVESTING IS TO MAKE YOU MONEY. – RON MUHLENKAMP We are all familiar with the phrase “Don’t put all your eggs in one basket.” It’s important to check the quality of the baskets. Not all baskets are well constructed. In the investment business, a CD basket differs from a bond basket, which differs from a stock. Some people selling investment advice maintain that you should use all of these baskets for diversity. They speak or write of diversity [...]
Working the Problem: The Impact of COVID
Jeff and Tony Muhlenkamp discuss the economic disruptions caused by the COVID-19 pandemic. WORKING THE PROBLEM: The Impact of COVID.2020.06.04 from Muhlenkamp & Co on Vimeo. If you have questions or comments about the content of the webcast, don’t hesitate to send us a message or call us at (877)935-5520. The opinions expressed are those of Muhlenkamp and Company and are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.