By Lewis Johnson - Financial history is fascinating. History offers nearly endless lessons from which we can learn, if we would only but study them. Of all the examples of financial history I have studied, one of the[…]
By Lewis Johnson - As value investors we sometimes find ourselves in the most obscure parts of the market. We end up there by design, because we are constantly seeking to limit downside risk by investing in securities[…]
By Lewis Johnson - Last week we explored commodity prices to illustrate simply how supply and demand interact with prices to drive real responses in the economy. Prices make things happen! There is a deeper truth,[…]
By Lewis Johnson - Prices are everywhere. We pay prices when we want to buy things such as groceries, cars, houses, stocks and bonds. But what else should we consider with respect to prices? Prices are also the most[…]
By Lewis Johnson - “You do not really understand something unless you can explain it to your grandmother.” Albert Einstein Sometimes it’s very difficult to get down to the simple fundamental truths that underlie even[…]
