The Patient Investor’s Blog

If you’re like me, you almost certainly prefer to know who the fellow owners are and how many other good investors are doing. But while I peek at owners even, I remind myself that a company’s ownership composition has absolutely no bearing – zero – on its future cash flows, which is the ultimate arbiter of value.

Yet every one fourth there’s a flurry of time and effort examining 13F filings. It is the 3rd biggest waste materials of your time for a practice “generally accepted” among traders. At least this tweet, which compiles recent 13F filings has the self recognition that yes, it is useless probably. And yet, such as a car accident, it’s hard never to peak.

  1. ► Mar 19 (2)
  2. Operation, Maintenance, and Repair Costs
  3. Harrison Davis – Vanguard Health Systems (VHS)
  4. App Service Plan
  5. Self-directed investing online (from U.S. Bancorp Investments)

Investing is a most personal organization, and in some instances a most lonely one. Stop caring what everybody else is doing! Its fine to find comfort in fellow owners and to know what others are doing, but chasing stocks that other’s own is a perversion of what makes investing so interesting.

A far better use of your time for investors is finding people who disagree with you, a structural benefit for investors who are married. Understand that the strike area isn’t the same for those hitters. Find out an investment style which makes most sense to you, find businesses that fit that style, and become okay not giving a hoot what others are doing. You ought to be all set. THIS IS NOT A SOLICITATION FOR BUSINESS OR A RECOMMENDATION TO BUY / SELL SECURITIES. BEING MARRIED MAY NOT ACTUALLY MAKE YOU AN IMPROVED INVESTOR.

It will get worse. The Given’s has been observed by The US Congress balance sheet. Under the mantra of “modern monetary theory,” a swath of congresspeople want the Fed to print trillions of dollars to finance the Green New Deal. The ECB and euro were setup with an obvious guideline that the ECB does not bail out sovereigns.

In the crisis, President Draghi rather brilliantly stemmed the first debt crisis with a “do what must be done” promise, that didn’t have to be executed, along with a warning that could not be permanent. However in response, Italy required the St. Augustinian approach – Lord, give me structural reform, but not quite yet. The ECB continues to repo government debt and Italian banks remain stuffed with Italian government bonds. The doom loop still looms, and markets expect a bailout still.

The ECB has lost the long term game of rooster. It will likely have to actually do what it takes when another crisis comes. But there is certainly little that is more political, little that cannot clearly stay independent more, than bailing out insolvent sovereigns, with euros that has to either inflate or be backed up by taxes on the others of Europe. The ECB is straight financing doubtful banks and questionable corporations still. These are activities that will request politics scrutiny also. The crisis spawned a vast expansion of regulation. THE UNITED STATES Fed is using an immense now,confusing, and constantly changing set of rules to do something with great discretion on informing banks how to proceed.