Weekly Returns Update
Returns are out for the week. As of market close on November 10, 2011 the Motley portfolio has returned 12.48% versus the market's 6.12% so we both fell a little bit in what's been a pretty crappy week (thanks Italy). This takes my edge over Mr. Market down slightly to 6.36 points, just a little below the 6.8 points from last week. Again, no worries considering the kind of market we're seeing. Who knows what next shoe drops?
So in line with the market tumult I feel like making a book recommendation. Roger Lowenstein is an excellent author and has put out some great reads on some pivotal market events in our lifetime; The End Of Wall Street is one of those books. It tells the tale of the financial crisis from many inside perspectives and weaves Bernanke, Geithner and Paulson among others in and out of those crazy days and weeks. Given everything that we're witnessing now, I wouldn't be surprised to see him throw something else out there sooner or later. But this is a good read, relatively quick (About 300 pages I think?) and a lot of fun. You'll definitely leave it with a better understanding as well as more questions about what went wrong, how it was addressed and how we'll avoid it in the future.
On a more personal note, I just wanted to mention that I recently opened a position in Higher One in my own personal portfolio. Not that it isn't disclosed on the site, but I've been covering it for a while and just never really found the opportuity to buy with our disclosure guidelines and timing requirements. But I do like the company, I like their prospects and I like management, so I wanted to get some skin in that game. My price was fair for what I believe is an excellent growth opportunity.
Finally, here's a big thank you (not that words can come close) to all who have served, are serving and will serve our country. It's impossible to communicate how courageous and appreciated you really are. We recognize today, but Veterans Day is everyday. Have a great weekend eveybody.