Investment Management

A Very Happy Thanksgiving To You

Nov 25, 2020 - John Osbon ( 2 mins to read)

In this age of abundance and challenge, the communal practice of giving thanks is something to be grateful for in and of itself. Taking the time to give thanks is an opportunity for a perspective reset. It allows us to step beyond whatever challenge-du-jour we have faced and step into a place of empathy and connection. Words that come to mind this Thanksgiving are gratitude, richness, simplicity, friendship, family, and charity. This year is not without its trials and sorrow, but also o...

An Update On Vaccines 

Return to Normal in 2022

Nov 18, 2020 - John Osbon ( 5 mins to read)

The first case of COVID was Nov 17th 2019, exactly one year ago. Moderna announced a 94.5% effective vaccine this week. Pfizer’s vaccine is 95% effective and ready for emergency use approval by the FDA in one month. We can expect more effective vaccines from Regeneron, Johnson & Johnson, Sanofi and Roche which are nearing new stock price highs this week. Small and large companies are working to...

An Update On The Role Of Bitcoin

Digital Currency Evolution

Nov 11, 2020 - Max Osbon ( 7 mins to read)

Digital currency acceptance among the general population has made great strides since we last wrote about it in 2017. Many have predicted that governments will adopt digital currencies as a better way to track and influence currency supplies. This government adoption is happening in China as we speak. It will likely happen in the US in the not too distant future. It’s often difficult to get a b...

Investment Trends That Supersede Politics

The bigger picture and the forces that will continue

Nov 4, 2020 - Max Osbon ( 5 mins to read)

While we are all focused on election changes, let’s take a moment here to step back and check in on some of the long term trends. An election date is a punctuation mark in time, and there is always broader context that one can look to for insight. Here are some thoughts on the big picture and other major recent events. Engines of economic growth As a reminder, while political turmoil persis...

A Short Comment on the Bull Case

Looking Forward to Better

Oct 28, 2020 - John Osbon ( 5 mins to read)

We have been stuck in a range-bound territory for broader market indices since the beginning of September. The election is imminent and the virus activity in many parts of the world is returning. The lack of the stimulus plan and potential monopoly regulation adds to anxiety, understandably so. Despite all of this, we see a positive road ahead for investors who take the longer view. Here is why...

The Burden of Regulation

Wrong if you do, wrong if you don’t

Oct 21, 2020 - Max Osbon ( 6 mins to read)

We’re at a crossroads for large technology monopolies and their platform business models. If we regulate them and slow their growth, they could stall and lose out on new opportunities. If we don’t regulate them, they could increasingly grow more dominant while crowding out new entrants and resting on their laurels. Competition is what keeps companies fit, lean and hungry. The regulators do not ...

Investing in the Next Fiscal Stimulus

Winners and Losers

Oct 14, 2020 - John Osbon ( 7 mins to read)

We all know there is a great deal of uncertainty about the next election, who will win, who will have control and who the new players will be. By design, the US experiences a major reshuffling every four years in our political structure. Despite the unpredictable changes, one thing is clear: there will be more fiscal stimulus going forward. There is at least one and possibly more fiscal stimulu...

The Cloud Computing Age

Transformations enabled by the public cloud

Oct 7, 2020 - Max Osbon ( 5 mins to read)

The rise of public cloud computing was an inevitable next step following the development of the internet. Cloud computing allows companies to access sophisticated connected servers without the hassle of designing, constructing and maintaining complex data centers. With its ability to enable new business models, unlock exponential rates of growth and increase access, the public cloud transformation has a lot to offer.

Antidotes To Permabear Narratives

Skepticism over cynicism

Sep 30, 2020 - Max Osbon ( 8 mins to read)

Perma-bear is a term used to describe an investor with a perpetually negative view of the future. Perma-bears are worth listening to because they can help us gauge where the worst of the worst risks could be lurking. In aggregate, they attract headlines but their track record has not been positive as they are far more often wrong. Let’s take a closer look at the current perma-bear narrative. ...