Category: Value Investing

Seemed like May flew by (along with the rest of 2020!) didn’t it?The markets continue to confuse professional managers. Robinhood investors are minting money. Riots in the streets, S&P futures up pre-market. Nothing really makes sense.If there’s one shred of consistency in your life, it’s a fresh new copy of Value Hive in your inbox…

We hope you enjoyed your extended weekend! As the weather warms up it remains harder to stay indoors. In light of that, you know how easy it is to practice social distancing in a boat? Pretty easy. Just boat six feet away from everyone else!Before diving in, I want to take time to thank all…

As always, hope you had a great week. I got to spend the weekend at Hilton Head Island, SC. Beaches weren’t crowded so social distancing was a breeze. In true deep value fashion, we snagged our Airbnb at a 75% discount rate to its historical rental price. I told you we eat, sleep and breathe…

Hope you had a great week and weekend. Golf courses in MD finally opened up. When you haven’t hit a golf ball in 3 months, you don’t keep score. You see how many balls you lose. I only lost one ball. It was a good round.Anyways, we’ve got three great letters for you this week…

If you’re like me, you missed Berkshire Hathaway’s annual shareholders cult-gathering meeting. The weather was too nice and I’ve been cooped up inside my house too damn long not to enjoy the day. Instead of watching 3rd-grade level slide-shows, I played corn-hole.My buddy beat me 21-0 in the third game. I know, I need to…

We hope you and your family are safe and healthy during this COVID-19 season. Many states are opening up their economies, neighborhoods and beaches in the coming weeks. Stay healthy, remain cautious and keep your head on a swivel.The markets etched higher since last week and the Russell 2000 broke out of a symmetrical triangle…

We had a lot go down in the value space last week. Remember when I got all excited for Michael Burry being on Twitter? Yeah, that’s gone. Get a load of this:Damnit, Twitter! For once we couldn’t play nice. We drove the death-metal-listening investor to the hills. There goes my chance of getting him on…

Do you know what time it is? It’s Q1 Investor Letter time! That’s right. My four favorite market times of the year. The time where I read letters from investors much smarter than myself. Each time I come away with new ideas, new models of thought and insight into a different part of the market.Before…

We made it past Q1 2020. Are you still alive? Times like these remind us that one thing (truly) matters: Staying Alive. Outsized returns are nice, of course. But what really matters is not losing your money. If you can keep some poker chips with you, you’ll always have a seat at the table. That’s…

Didn’t March feel like an eternity? Not even the entire month. Just the last two and a half weeks. It’s amazing the power a constant stream of news has on your perception of time. I’m not sure we’ll have another month as crazy as March for financial markets.Then again, I bet that’s what people said…