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FWI Reading List for the Week of July 17, 2017
July 21, 2017

With earnings season in progress, my reading this week was confined largely to quarterly earnings presentations and conference call transcripts, but there were some pretty interesting stories that crossed my desk as well. Here is ...

FWI Reading List for the Week of July 10, 2017
July 14, 2017

Still watching the clock tick by as I wait for what I'll eventually call “The Great Trump Economic Implosion,” while feeling grateful that 1) the US system does not yet include a tradition of hereditary monarchy and th...

Mailbag: How Many Positions Should I Hold?
July 13, 2017

A financial journalist, Sandy F., saw a few of my Forbes articles and started corresponding. She read my latest post on “Salad Bar Investing” and came back with a good, practical question. Here is our exchange. Questio...

FWI Reading List for the Week of July 3, 2017
July 7, 2017

On Monday, I noticed that Union Pacific's UNP stock price had hit $110 per share. Ah, great time to sell the bearish call spread I had featured in an earlier FWI Tear Sheet. I opened my brokerage application checked prices and ent...

Buyer Beware: ‘Salad Bar’ Investing can Harm Your Health
July 6, 2017

“Why do you hold [Insert FAANG or other popular stock name here] in your portfolio?” When I ask new Framework Investing members that question, the most usual response is a collection of hazy impressions, anecdotes, and appea...

Sensible Portfolio Design that Works WITH the Market
June 30, 2017

“The secret of making money is to avoid risks; you have to take risks when you spend it.” – Warren Buffett. Buffett's quote says it all. Investment portfolios that make money avoid risks. We are going to look at two portfoli...

FWI Reading List for the Week of June 26, 2017
June 30, 2017

It seems inconceivable that 2017 is already half over, but my calendar and the humid Chicago weather both confirm that fact. As we head into the July 4th weekend, my thoughts turn to a tweet from the President of the United States...

Five-Minute Valuation of IBM ($IBM)
June 29, 2017

  IBM is a business in the midst of a huge transition. It has undergone big transitions several times in its history and has always come out okay, but many investors, Warren Buffett among them, have doubts about IBM’s abili...

FWI Reading List for the Week of June 19, 2017
June 23, 2017

The summer solstice came and went with record high temperatures in the desert southwest, but blissfully pleasant weather in the Midwest, where I call home. The temperature of the market seems to be on the warm side too, with the e...

The Only Two Investing Arguments: Case Studies of Kroger ($KR) and Amazon ($AMZN)
June 21, 2017

There are only two arguments in support of any investment position: Business conditions are exceptional now, but will return to normal eventually Business conditions will become exceptional in the future When you are entering an i...

Five-Minute Valuation of Kroger ($KR)
June 20, 2017

  When Kroger took a shellacking after guiding current year earnings lower, it caught my attention. We had researched Kroger last year after researching Whole Foods Market, and I knew Kroger as a well-run company, with some g...

FWI Reading List for the Week of June 12, 2017
June 16, 2017

My week was bookended by corporate news – General Electric on Monday and Amazon-Whole Foods- Kroger on Friday – holding up a set of increasingly worrisome, crazy political news – a sitting president under crimina...

Kroger ($KR) Swings and Misses
June 16, 2017

When I checked prices this morning, I was surprised to see Kroger's KR stock price had taken an enormous hit. Having done a full valuation of Kroger in July 2016 and knowing this is a well-run company, I thought there might be an ...

Was Immelt a Better CEO for $GE than Welch?
June 12, 2017

The first news story in my inbox this morning was that General Electric’s CEO, Jeff Immelt, was stepping down in favor of John Flannery, a 30-year GE veteran who had most recently led the Medical Devices business. The stock rece...

FWI Reading List for the Week of June 5, 2017
June 9, 2017

Every day, I wake up expecting that things can't get any stranger; every evening, I'm surprised to find out I was wrong. This week saw Saudi Arabia initiating a (virtual) war with Qatar (and oil prices trading at $46 / bbl), forme...

VIDEO: Finding the Optimum Option to Sell for a Covered Call on QUALCOMM ($QCOM)
June 2, 2017

One of the stocks that was on the Covered Call Corner list we published yesterday was Qualcomm QCOM. I thought I would take a look at live Qualcomm pricing and show you how I pick the optimum option to sell in the case of a “Bon...

FWI Reading List for the Week of May 30, 2017
June 2, 2017

There's a good reason why adventure movies feature imminent threats to the hero and his love interest's lives by a clear and present physical enemy. For hundreds of thousands of years, humans died young from warfare, predation, or...

FWI Reading List for the Week of May 22, 2017
May 26, 2017

It's worth noting that MRI scans have shown that the male brain does not fully mature until age 25 (age 21 for females), when considering that the age of the suicide bomber who strapped an IED to himself and ended the life of 2...

FWI Reading List for the Week of May 15, 2017
May 19, 2017

Another full week of corporate earnings (mostly benign) and political chaos (potentially problematic). By and large companies reporting this week across the broader markets stuck to the script, though retail continues to be a blo...

VIDEO: Our Analysis of GE’s ($GE) Recent Downgrade
May 19, 2017

Several days ago, the analyst covering General Electric for Deutsche Bank downgraded his rating on the company from “Hold” to “Sell.” Shares have fallen heavily and are lagging the market for this year, and since this comp...

VIDEO: The Railroad Pricing Environment is Changing
May 13, 2017

The railroad pricing environment is changing. Over the last decade and a half, railroads have been able to raise shipping rates very aggressively thanks to industry consolidation and a regulatory body that seemed more focused on i...

FWI Reading List for the Week of May 8, 2017
May 12, 2017

It was a busy week for politics and earnings both. We were happy to see that French voters heeded our admonition from last week, and think that the election of Macron bodes well for Europe throughout what we believe will be an uns...

FWI Reading List for the Week of May 1, 2017
May 5, 2017

Yay! We can all count on a future of cheap, high-quality healthcare!* In honor of the AHCA bill's passing the House this week, I became sick as a dog, so have not been as active with my reading. That said, I did manage to come o...

Reader Mailbag: The Shifting PBM Industry ($ESRX)
May 5, 2017

Some of Framework's public posts are syndicated through SeekingAlpha, a popular investing research portal. Our last post on Pharmacy Benefit Manager (PBM) Express Scripts (Avoiding the Express Scripts Falling Knife: Framework I...

Reader Mailbag: Superforecaster Question about Option Pricing
May 5, 2017

Framework's latest project with the Superforecasters is related to an airline ETF and a major credit card company. In the context of this project, one of the Superforecasters had a question about option pricing – a topic t...

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