November 25, 2021
Friday Thoughts: What makes a great business? In the early 2000s, Blockbuster was on top of the world, with more than 9,000 stores across the U.S. and a video tape in nearly every home’s VHS or BETA player (remember those?!). A new, obscure startup called “Netflix” even approached Blockbuster in 2000, asking if the video store king would like to buy them out for a mere $50 million. But Blockbuster’s CEO declined, calling Netflix “a very small fringe business.” The rest is history, with Blockbuster filing bankruptcy by 2010 and Netflix going on to have 213 million subscribers worldwide this […]
November 18, 2021
As we entered the restaurant, morning sun streaming through the windows, and were led to our table, we chatted. Sam and I talked about our families, his life, and his recent retirement after 27 years of building his company to the powerhouse it now was. We sat, opened our menus, and chatted about what his plans were for the next stage of his life. As we took sips of our coffee, we talked about the Dodgers, contemplating if they’d be able to win another World Series with the roster as presently constructed. (We’re not optimistic!) Soon, with breakfasts ordered and […]
November 11, 2021
Have you ever been to Bora Bora? In that French Polynesian island nestled in the South Pacific, on most days the temperature of the water and the air temperature are the same. Whether you walk from the beach into the translucent aquamarine waters or from the waves onto land again, it feels the same, with no discernable change at all. Imagine that – going through life with conditions so comfortable and predictable, we experience and seek as little change as possible? This week, I had the pleasure of sitting down with my study group, a collection of successful and dynamic […]
November 3, 2021
October economic & market recap: Wall Street booms, inflation bites, and the Fed to start their taper. A Banner Month for Wall Street In October, Wall Street had its best month of the year, with the S&P 500 gaining 6.9% from October 1st to 31st. That’s the S&P’s highest monthly gain since November 2020, when the stock market responded to a new president and optimistic news about possible coronavirus vaccines. The Nasdaq (+7.2%) and Dow Jones (+5.8%) posted similar gains. Wall Street’s S& P 6.9% gain last month was a welcome […]