Sizemore Insights

By Charles Lewis Sizemore, CFA
Warren Buffett is a hero to many investors, myself included.  His record speaks for itself: 18.3% annualized returns in Berkshire Hathaway’s ($BRK-A) book value over the past 30 years compared to just 10.8% for the S&P 500.  And his returns in the 1950s and 1960s, when he was running a much smaller hedge fund, were even...
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74% of money managers are bullish on U.S. stocks, according to Barron’s, an all-time high by the magazine’s measurement.  Only 7% were bearish. Uh oh. “All-times highs in bullishness” is not something I generally like to hear.  If these managers are talking their book—and we have to assume they are—then this means they are likely already...
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Has Big Tobacco stumbled into a new growth market in electronic cigarettes? Well, sort of.  Use of e-cigarettes—which produced a smokeless water vapor infused with nicotine—is expected to more than double in 2013, which might ordinarily be good news for the major tobacco giants. Altria (NYSE:$MO), Reynolds American (NYSE:$RAI) and Lorillard (NYSE:$LO) are all active in...
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The language of Wall Street is infused with pithy maxims.  “Don’t frown; average down.”  “The trend is your friend.”  And perhaps most relevant to us at this time of year, “Sell in May; go away.” The last one is perhaps the most dangerous because, at least for the past several years, it has held true.  Since...
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Soda and cigarettes might seem worlds apart, but soft drinks are increasingly being eyed by regulators, and growth is already slowing.
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