What our companies told the SEC this week, read for you. The note and the top items are free; the full issue is for members.
At an investment club this week, someone asked what the markets will do with the mid-term elections. My answer: I don't really care. That's noise, and it never makes it into the Quiet Room.
Read the issue →You learn a lot about a company from what it pays its boss for. This week Costco told us, and the share price wasn't on the list.
Read the issue →Quiet weeks are the ones most people skip. Nobody reported results this week. But four companies made decisions that will show up in results for years.
Read the issue →Every company now reports two profits: the official one, and its own. Neither is a lie. The trouble starts when we read only the one we like.
Read the issue →A good quarter feels the same whether the customers paid for it or a refund did. It isn't the same. This week, two companies show the difference.
Read the issue →In 45 years, I've learned that the headlines rarely make it into the Quiet Room. This week the loudest news on our shelf was a sale that never happened. Sometimes the most useful thing an owner does is nothing at all.
Read the issue →