I’m off the road a few months and catching up on my makeshift trading desk (wherever I open my Macbook Air). Lucky for me I have @ivanhoff watching the markets for me and working our strategy. Some crazy stats have stood out recently: % of Total Profits coming from the Largest 100 companies* 2017: 84%1997: …

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One of our portfolio companies StreetContxt has raised a large round of financing from Stevie Cohen’s firm Point72. I cringe when journalists call any company a Bloomberg Rival, but everything else about Blair Livingston (the founder) and StreetContxt in the piece is fantastic! I have read all the death of Bloomberg Terminal pieces and they …

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This weekend on Coronado was our 11th LP and founder get together  (the first few years we held the event in Phoenix) .  I miss Coronado my daily beach runs… The island is an extra special place because of the military presence.  I am constantly reminded of the sacrifices we make for our great freedoms. …

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It has never been easier to do the right thing in the money management business but the bad behavior continues. I read this today about Morgan Stanley paying $8 million to settle up on advisors stuffing inverse ETF’s into client’s retirement accounts: All of this just makes it easier for the advisors offering the lowest …

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It’s a trick question… Today, Wells Fargo has to pay $5.4 million to a ‘whistelblower’. The lesson… If you want to go into the coal or banking business, get yourself a good recording device and be a whistleblower. Of course, I am excited that we are making America great again. While the White House is …

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I had one more morning in Naples, so I woke up early and tried to catch a few fish. I saw a lot of expensive homes and caught a few snooks (this shnook caught a snook): Speaking of shnooks, the shortsellers in Tesla are being run over. Today, Elon Musk threw gasoline on the ‘sad’ …

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I spent the weekend golfing in Naples, Florida and had a great time. I played at Calusa Pines which is a top 100 course in the country and very difficult.  When you bang out 72 holes in a couple days with the same group of guys you end up laughing and betting a lot.  A …

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Was thinking about this riff from Josh Brown : Imagine you sold your mom and pop bookstore in 1997 to Amazon and put all that money in Amazon stock. None of your descendants would ever work again.  My mother-in-law used to ask me what to tell her friends when they asked what I do.  I …

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