Lessons We’ve Learned on Valuation & Supply vs. Demand I have been asked a lot about SpaceX. Here are a couple of thoughts from living and working through a few moonshots and crashes in the Stock Market during my career. And there will be a few more monster-sized IPOs soon that crowds of investors will flock to, generating even more excitement and speculation. To be very clear, I am not a rocket scientist. I have no idea what will ultimately happen to SpaceX (neither do the s

The word “enough” is a funny one. It has negative uses (like me saying “Enough!” to my girls when they are arguing) and neutral uses (“No more coffee, I have enough”), but I’m more interested in its positive uses. The feeling we get when we look around contentedly and say “I have enough.” I think a lot about what it means to have enough and even reworking our definition of enough. We live in a world driven by consumption. Our lives are filled with ads and product placement

Most of the investment crowds’ research and forecasts measure the supply and demand for a company’s products or services. But never forget the most important factor in what moves a stock price next – the supply versus demand for its shares. This chart shows that almost half of all Apple shares (44%) have disappeared from the open market, no longer available for a new buyer to bid on. We wanted to share the fingerprints from one of the largest buyers of stocks in the world,

My first job in financial services was filing papers and answering the phone for my dad, Doyle. I was 15. He started a financial planning and wealth management firm in Fargo, ND, when I was 3. Even though I grew up hearing about his work and meeting his clients, I never planned on being a financial planner. I was the college kid who made it my mission to take classes in every building of my small liberal arts college and changed my major multiple times. After graduation, I sp

On road trips as a kid, my favorite snack at a gas station was a Snickers bar. If I were really lucky, and it was a fancy one with a freezer, I’d cross my fingers that they had a bombstick. Each one of those seemed fresher than anything cooked behind the glass. Gas station grub has gotten a lot better at a few stops. On a recent road trip visiting colleges with my daughter Casey, we stopped at my favorite gas station. She thought I was just being goofy, wanting a photo, becau

There should be no tax season, it’s a year-round priority for investors. The reason many put it off, and don’t like to think about it, is that too often it’s a painfully large number owed and it keeps getting more complicated – both the tax rules and investment products. Here is my nomination f or the most powerful way to slay both of those dragons for an investor. I would love to show you how we pay only a 10% effective tax rate on all the income from our largest account

This is one of our favorite memory bank deposits we’ve ever made with a partner, to celebrate our favorite season of giving.

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We found undervalued tickets by looking through a wider lens at teams/markets loaded with talent just joining the league of capitalism.

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