Howard Marks is one of my favorite investors because he has a deep value bias and the discipline not to abandon it. Warren Buffet says he always opens any communication from Howard Marks first so why would I be different? When he writes or speaks, I listen, not so much because he says what I […]
Howard Marks Has New Advice For Investors Read More »
Happy New Year. CW Industrial Partners hopes 2023 will be healthy, prosperous and enlightening. An appropriate theme for the first blog of the year is financial literacy… or maybe the frightening absence of it in America 2023. When you look at the fraud and speculation that accompanied the last few years of persistently low interest
Fairy Tale Finance: Crisis in Financial Literacy Read More »
I organized a family World Cup pool which I assumed I could win. After all I played soccer in high school and college and know all the big names like Thomas Mueller age 33 (Germany and Bayern Munich), Cristiano Ronaldo age 37 (Portugal and free agent), Kevin DeBrunye, age 31 (Belgium and Manchester City), Lionel
World Cup “Golden Oldies” Fade As New Order Emerges Read More »
Like the Netflix hit sci-fi series “Stranger Things” where governmental test labs inadvertently create a new volatile dimension called the “Upside Down” so, too, have crypto markets taken on paranormal proportions to become their own “Upside Down.” In a recent article for The “Wall Street Journal” on Thanksgiving Day entitled “How Crypto’s Collapse May Have
Crypto’s In The Upside Down Read More »
I have been doing some reading on what most of you would consider a boring topic- the history of interest rates. James Grant calls this book by Edward Chancellor “A masterpiece of history, analysis—and properly understated outrage.” It is called “The Price of Time.” What fascinated me was “understated outrage” being applied to interest rates
Book Review: “The Price of Time” Read More »
After travelling to Scotland this Fall I was surprised by the conversion rates into British Pounds. Meals, lodging, beer and even golf balls were much cheaper than 2021 when this trip was first planned. Somehow this did not make sense given all our domestic problems. What about our rising interest rates, record amounts of debt,
Strong Dollar Thrashes The World Read More »
In a tribute to Olivia Newton John who died last week and who at age 29 acted as teenage Sandy to a 23 year old John Travolta in “Grease” I dedicate this timely reminder that grease is still the word. Recent discussions with several of our portfolio companies suggest a new set of challenges for
Grease Is The Word Read More »
There are many lessons from the 1970’s and 80’s “Big Inflation” about interpreting reported financial results to determine if a public company is doing well or not. One of those lessons was wage inflation lagged, not led, price increases in goods and services. This stretched out the period of recession and was aptly named “stagflation”.
Inflation Playbook May Distort Reported Earnings Read More »
After decades of globalization where manufacturers expanded supply chains to access low labor cost countries like China and Vietnam, manufacturing is coming home. Here is a chart from The Daily Shot showing China wage advantages versus the US have declined: According to a recent article in Bloomberg titled “CEOs Start to Turn Supply-Chain Reshoring Talk
Manufacturing Is Homeward Bound Read More »
My recent research on financial literacy has helped me understand credit cards may be the number one enemy of consumer welfare for the foreseeable future. Here are some of the top ten findings from an article by Samantha Rose on December 22, 2021 writing for OPPU at www.opploans.com about the financial condition of all generations
Credit Card Toxicology Report Read More »
No Offer of Securities
This site is for informational purposes only. No information on this site should be construed as a solicitation, offer, recommendation, representation of suitability or endorsement of any security or investment. Offerings of securities are made only by prospectus, private placement memorandum, offering memorandum or offering circular distributed by persons authorized by CW Industrial Partners, LLC. For additional information about the firm, including our Form ADV Part 2A and any relevant conflicts of interest that may exist, please contact us.
