Macro review



Does the stock market really need to cool-down?

Once again we are experiencing a period of market declines. Not easy, especially when you know that your portfolio is composed of shares of high-quality companies that trade deeply below their fair price, both absolute…



How to invest smartly during a market collapse

Inexperienced, shortsighted investors are afraid of the market collapse, sell their stocks and lose money, while smart, long-term investors, see this collapse as a unique opportunity to buy stocks at deep undervaluations and make tons…



Has the big crash begun?

In the past few weeks, we have seen the markets shaking a little stronger than what we have seen in recent years (in Europe, by the way, the declines have been going on for several…



Is Trump’s trade war a Black Swan?

Despite a good reporting season for US companies in general and great results for the portfolio companies as well, the US stock market has recently moved into a negative trend (although today the market goes…


How to invest wisely in 2018?

At the recent members’ conference, I presented my insights on the markets and how I think it should affect the allocation of our portfolio, if at all. Here are the main points: Although many feel…