by Charles Cheng, CFA     Previously, we talked about the importance of basing investment decisions on information that is truly actionable. For shorter time horizon trades, that information must be an insight that is not already […]

by Charles Cheng, CFA     For most investors investing in equities, either investing in index funds or buying and holding stocks of companies with enduring competitive positions at reasonable prices are the most sustainable invest […]

by Charles Cheng, CFA     A popular investing adage is that investors hate uncertainty.  Not only does it add to the difficulty in forecasting economic outcomes, but also takes a psychological toll on investment decision-making. And gi […]

by Charles Cheng, CFA     A.I. these days seems to be a catch all term.  In terms of enterprise adoption, most of the hype and activity is around generative A.I. with the success and adoption of ChatGPT and the products of other foundation […]

by Charles Cheng, CFA     Markets have continued their upward climb at the start of the new year in 2025.  However, there are many uncertainties brought about by drastic political changes in the US and radical economic policies. Market […]

by Charles Cheng, CFA     As we begin the New Year in 2025, as always there are many things that investors worry about with respect to the broad market and economic environment.  The new US presidential administration promised to imple […]

by Charles Cheng, CFA     When you actively invest for yourself, you don’t have the resources that a large fund would have to implement your investment strategy. Yet, you are in direct competition with those institutions to find m […]

by Charles Cheng, CFA     In 2022, the Harvard Business Review named “resilience” as the word of the year.  Resilience refers to one’s ability to recover, adapt to and grow from difficult situations. As a concept, it has been gain […]

by Charles Cheng, CFA     Investors often have a general idea of why they want to make a certain investment, such as liking the underlying business or trend, but stop short of having a fully considered investment thesis. Without one, t […]

by Charles Cheng, CFA     In 1979, psychologists Daniel Kahneman and Amos Tversky published a paper called “Prospect Theory” that changed how we think about decision-making. They showed that people don’t always make r […]

by Charles Cheng, CFA     Some of the world’s most famous investors have emphasized the importance of pricing power for companies they invest in. Warren Buffett has said, “The single most important decision in evaluating a busine […]

by Charles Cheng, CFA     In the recently released official biography of Elon Musk by author Walter Isaacson, there is a story of the famed entrepreneur at a friendly poker game.  He would go all in on every hand, lose and then go buy […]