This month for our market commentary we have a discussion on the implications of presidential probabilities. Because let’s face it when it comes to investing its the probabilities that matter regarding the election – not the specific outcome. We also discuss Novembers historically and how they perform as well as talk about what we’re doing specifically in light of current market conditions.
And of course we show our appreciation for some of the things we’re grateful for in this the Thanksgiving month.
Please enjoy our take on the markets in November:
What We’re Reading:
The Art of Stockpicking by Charlie Munger. This is a classic! If you’re at all interested in learning from one of the best money managers and stock pickers of all time, you must read this! We have received designed much of our investing process from what is found in this letter.
Nike co-founder shares ‘the only advice any of us should ever give’ – This is an article and interview about Phil Knight. It’s a great article on the idea of persistence, building something out of nothing, and patience. We love stories about people working hard and turning nothing into something. There are a lot of life lessons that can be learned by studying such people’s lives. We also like in the interview, the idea of paying the right price for endorsements. This reminds us of value investing. Don’t overpay for anything!
Tweet of the Week. When Amazon came out with earnings the stock immediately fell 6%. People were not happy with the short term results. We see this a lot in the market. There is such a focus on short term results that people often don’t see the bigger picture. Michael Batnick helps point this out in one Amazon chart. Well done Mr. Batnick!