If you understand the companies behind our Portfolio stocks, a market crisis can often reveal some great bargains. Whether it’s due to some blip in Chinese stocks, hysteria over subprime mortgages or just a little selling in a thinly traded stock, know when a great company’s stock is on sale. Knowing the difference between “crisis” and “opportunity” is one key to cashing in long term. Read More

There had better be some solid reasons and not a smidge of emotion when it comes to your portfolio. That’s how we view ours. This issue, we’re showing a strong performer the door. And we shouldn’t be sorry to see it go—we know it will be back. Read More

Sell New Plan Excel 7.8 Percent Preferred D. It’s priced at a negative yield-to-call and has been well above our buy target for some time. Put the proceeds of the sale into our other Portfolio holdings. Read More

Super oils don’t just pump out oil and gas. They also control vast downstream businesses—such as refining, chemicals and distribution—that do better when energy prices moderate. Even when energy prices crashed in 1998, the supers’ dividends and credit ratings held firm, a stark contrast from the carnage in their smaller rivals. Read More

VW has long been dogged by weak growth or poor profitability. In years where the company managed to grow its sales at a near double-digit pace, that growth has come at the expense of profit margins. In other years, VW has managed to cut costs and boost profitability, but has watched sales slip. Read More

Much was made of the sharp fall in stocks in late February; the impact on the Advantage Portfolio holdings was relatively subdued. Read More

Capsule Advisory Read More

Ask anyone—your spouse, daughter, son, co-worker, foreign policy or military expert—when the Iraq war will end. Ask that same person when the war on terror will end. Read More

AMT? Yes, it’s the alternative minimum tax, a poorly conceived, passive menace brought to you by inflation. Read More