So is the title of the latest Patient Capital newsletter to shareholders, observing that September 2010 brought the highest U.S equity returns in a staggering seven decades! But this is Patient Capital, not Kudlow and Cramer. The core message of this installment is as follows.…

Whether a company is publicy traded or not affects every aspect of its operations.

The most important stakeholder to a privately held company are the customers. Unhappy customers adversely impact revenues. If revenues don’t equal expenses it’s game over. It’s pretty well that simple.

For the private company then, the most important thing is to keep the customers happy which translates into steady revenues, which can be turned into positive earnings either through revenue growth, cost cutting or a combination of the two.…

Everybody wants to “beat the market”, and all fund managers assure you they will do so with the funds you place with them. Very few people, fund managers included, actually beat the major benchmark indices on a consistent basis.

While fund managers promise to “beat the market”, by the time management fees come off, (which usually apply whether the fund makes you money or not), most funds fail to do so.…

Investors View Magazine – January 2010

Over the past few years a lot of people have compared the bear market collapse of 2008 and the economic recession with what occurred during the Great Depression. When you look back on stock market history there are a lot of similarities.

For example what we went through in this last bear market can only be compared to the stock market collapse of the 1930’s when you look at the speed and the depth of the drop in stock prices in 2008.…