The Peak Perspective

Rolling with the Punches The Federal Reserve has raised the effective Fed Funds rate over the past 18 months from 0% to 5.33%. The 10-year...

“Hindsight, the ability to explain the past, gives us the illusion that the world is understandable. It gives us the illusion that the world makes...

Fool Me Twice: The U.S. Housing Market As markets internalized the risks of COVID-19 in March 2020, stock prices for home construction companies crashed (proxied...

Stock Review: VF Corporation      We’ve written in the past about our mindset of buying businesses as a way to ground and guide our...

“Recent indicators point to modest growth in spending and production. Job gains have picked up in recent months and are running at a robust pace;...

A Classic Bank Run By now you’ve likely seen the headlines or done some deeper digging into the recent collapse of Silicon Valley Bank (SVB)....

Is the Bear Market Over? The better question might be – did the bull market ever end? When you pull back and look at long-term...

Why We Own Stocks “Because profits go up 8% a year, and stocks will follow. That’s all there is to it.” -Peter Lynch   The...

“The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at...

Not-So-Boring Bonds At the top of 2022, we wrote that stock market multiples were precariously perched after soaring well above historical averages. Since then, multiples...

The recent debacle at FTX and the broader selloff in cryptocurrencies over the past year have us thinking a lot about our investment discipline and...

Discounted Cash Woes It’s earnings season on Wall Street, an opportunity for investors to peer into the latest financial results of publicly traded companies. When...