L’importante è che nevichi (The unflagging desire)

Dear Friends, Partners and Intelligent Investors, La forza di gravità del mercato è la combinazione di due influenze determinanti : l’inflazione e i tassi di interesse. L’azione della FED è volta a frenare l’inflazione (alzando i tassi) e “creando” un accenno di recessione o frenando l’economia americana che ha viaggiato dal 2020 ad oggi a velocità molto sostenuta. La…

Boredom is fun

In investing Boredom is fun. True investing or Intelligent Investing incorporates boredom and requires boredom as one of its components. It’s a fact. It is one of its main traits. If you are capable of a sound big decision you don’t wiggle around much. It’s not only the fourth law of motion by Buffett (“For…

You are not an Investor

Rational Walk is the only newsletter that I read among the many I receive about investing. I found almost a waste of time all the rest. Too much noise. Many talk about money, finance and other interesting topics but they are not about investing. Rational is exhaustive, accurate, drops some knowledge, and even if you…

Yes, you can lose…

“The most worthless of mankind are not afraid to condemn in others the same disorders which they allow in themselves” Edward Gibbon “The decline and fall of the Roman Empire” Prize in others the good qualities you’d like to have but you are struggling to achieve. It is not only paramount to find the right…

Permanent Holdings

Puo’ essere che “Forever is not as long as it used to be”. Maybe, ma non di meno I grandi risultati per il vero investitore si misurano sul lungo termine. Wall Street ne e’ una evidente dimostrazione. Chi ha investito con me condivide da principio che noi siamo un Gruppo “long-term greedy”. Alcuni businesses acquisiti…