I’ve been a big believer in vice investing—and particularly tobacco stock investing—for a long time.  I turned bearish on tobacco stocks late last year, but this was based purely on price.  In my view, tobacco stocks had simply gotten too expensive relative to other dividend-paying options—and I would reiterate that view today. But if ol’...Read More

The Dow over 15,000…the S&P 500 over 1,634…the Nasdaq at highs not seen since the 1990s Tech Boom… Any way you slice it, we’re in a bull market. Alas, we’ve been here before, and it didn’t end well.  So, is it time to worry? My answer is “no,” or at least “not yet.”  The conditions...Read More

Windows 8 was the revolution that wasn’t.  But don’t count Microsoft (Nasdaq:$MSFT) out just yet.  In a lot of ways, the boring, button-down software giant was just a little ahead of its time. After a storm of criticism from frustrated long-time Windows users, Microsoft announced that it would be making significant changes to its Windows...Read More

Credit card giants MasterCard (NYSE:$MA) and Visa (NYSE:$V) both crushed earnings estimates this past week, and both are sitting near new all-time highs. Not bad, considering the line of work they are in.  Given that the global economy has been tepid at best lately and that unemployment remains stubbornly high, you might not expect companies...Read More

Warren Buffett is a hero to many investors, myself included.  His record speaks for itself: 18.3% annualized returns in Berkshire Hathaway’s ($BRK-A) book value over the past 30 years compared to just 10.8% for the S&P 500.  And his returns in the 1950s and 1960s, when he was running a much smaller hedge fund, were...Read More