IRM’s new direction pays off Read More

After reaching highs above $90, oil in mid-April backed off to the low $80s. Prices continue to be driven by geopolitical factors. Iran’s retaliatory attack on Israel was designed to display Iranian power without triggering an Israeli response. As I write this, Israel is mulling its options: While its conservative… Read More

A good non-U.S. income play Read More

Preparing for tougher times Read More

History will likely record that two wars, Vietnam and Ukraine, bracketed the decline of the U.S. from a global hegemon to a country that squandered its unquestioned dominance – and, we hope, that then strove to come back. More than two years ago, when the war in… Read More

Why high yields alone won’t do the trick Read More

In the previous issue of TCI we noted Warren Buffett’s enthusiasm for Japan’s five largest trading houses (known in Japanese as “sogo sosha”), which he likens to his own Berkshire Hathaway (NYSE: BRK/B) (Growth Portfolio). In TCI, we’ve owned two of these Japanese companies for over three and a half… Read More

In the upcoming May TCI, we will be revamping the Income/Value Portfolio to focus more squarely on companies with secular tailwinds that will let them keep dividends growing as inflation rises. One such tailwind – which favors existing Income recommendation Iron Mountain (NYSE: IRM), traditionally a storage REIT – is… Read More

Reading between the lines of his latest letter Read More