On morning walks to the office, I used to cut through Central Park, coming from the West Side. Often, I’d visit the Central Park Zoo....

My 1973 – ‘74 caper in the options market yielded enormous percentage gains during this bear market. I handled market makers, day in, day...

What everyone forgets by concentrating solely on corporate earnings is the extraordinary cyclicality of price-earnings ratios. During...

Santa and Reindeer in Macy’s Parade I’m a realist. Consider, Santa Claus had me arrested when I was 10 years old. I will never forgive...

They didn’t drag out Microsoft to be shot last week, but it did shade its recently posted high mark. Microsoft shines as the poster child...

Peak growth stock repute got memorialized in Morgan Guaranty’s 1972 portfolio. Even Sears, Roebuck sold at 30 times earnings. Growth...

I’ve learned to stand alone as a player, but now I feel as if I’m dancing in water climbing above my ankles. Tired of splish-splashing,...

The swing from optimism to pessimism is best depicted by the NASDAQ 100 Composite Index spanning over a decade. I dare anyone to...

What’s to learn from a Warren Buffett portfolio with positions like American Express dating back to the 1960s? Yes! You hang in with...

I never dreamed of comparing U.S. Steel with Amazon whose market capitalization flirts with $1.5 trillion. Little more than a year ago,...

Bert Lahr as the Cowardly Lion in The Wizard of Oz Even for a passive investor who dozes while reading his Wall Street Journal after...

Portfolio structure, not stock picking, saves you in wildly surging markets. When it gets too hard to build an earnings model next 12...

5-Year Chart on Goldman Sachs JPMorgan Chase is just another polite banker, near fully valued these days. But, Goldman Sachs is streaking...

An enormous amount of capital in the country is managed too conservatively with shabby results. Institutional investors and wealthy...

For some 60 years, I’ve made it a practice never to criticize other money managers. So, I’m about to commit heresy herein. Still...

My eyes normally cross while reading bank stock quarterlies. Such reports are crammed full with numbers line after line and meaningless...

The Dow 36,000 Call A Random Valuation Exercise Lemme see income tax filings from the 2 forecasters of Dow 36,000 made in 1998. I’m...

Eva Hesse’s art, mainly sculpture, embraced surrealism, minimalism and conceptualism in a poetic manner. So goes the stock market,...

Nobody’s record is good on forecasting interest rates. But with 10-year Treasuries at 1.3% there is much room on the upside. The least...

Consider, Xerox, was moon bound for over a decade before Canon and Kodak gave them a run for the roses. Later on, Coca-Cola and Gillette...