Commentary

Each month, the BCWM Portfolio Management team publishes an Investment Commentary that examines the latest developments in financial markets and the economy. We filter out the noise and present the information most relevant to our investment strategies and management of our clients’ portfolios.

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$1 Trillion Dollars!

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In the two days following Apple Inc.’s earnings announcement, shares of its stock increased 9%, making it the first company in history to be worth more than ONE TRILLION DOLLARS. Sometimes it seems that the average American bandies the words “billion” and “trillion” about just a little too casually, not truly understanding the magnitude of…
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World Trade and the World Cup

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In our December Investment Commentary, Cryptocurrencies and Cheeseburgers, we noted that Bitcoin was a tad bit speculative—as a reliable currency or as an investment. Our sentiment hasn’t changed and its price activity this week (down 8%) prompted us to re-visit Bitcoin.
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ABSOLUTELY. POSITIVELY. NOT.

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One of the things we’ve learned in our business is that when virtually the entire investment world is absolutely, positively sure something is going to occur, not only does it NOT occur but the opposite usually does. Occasionally these are called “bubbles,” like the tech-stock bubble when everyone was convinced tech stocks would only go…
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The Risk of Looking Wrong

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Our business is an interesting one. Every day we have to decide how to get the best potential return with the least amount of risk. It’s a business that requires us to peer into the future and attempt to determine the risks, based upon market levels, historical performance outcomes, and geo-political possibilities.
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Learning the Hard Way

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There’s an old joke we like to repeat from time to time. It goes like this: “How do you make a 33 year-old guy act like a 43 year-old guy?”  The answer?  “Wait ten years.” It’s not the kind of joke that elicits huge belly laughs, but delivered at the proper moment and in the…
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