Newsletter
The AI Bubble
“Some development, seemingly new and desirable…captures the financial mind…the price of the object of speculation goes up…this increase and the prospect attract new buyers…the speculation building…
Key Provisions of the One Big Beautiful Bill Act, and the Potential Impact on Your Taxes
On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law, marking a significant milestone in tax legislation with far-reaching…
What’s Next?
“ELECTIONS HAVE CONSEQUENCES”, and this one is certainly more consequential than most. The new administration has promised nothing short of a revolution. Whether or not they…
Is Value Investing Dead?
Investing has always been dominated by two schools of thought, growth and value. Buying companies with exceptional growth rates makes sense. After all, if the object of the…
The End of the Free Lunch
In our last letter we warned that there are major changes happening in the world economy: “The Times Are Changing”. In this letter we would like…
Compass Turns 25
In 1997 Bill and Carolyn founded Compass. After a combined 23 years with major brokerage firms, they wanted something better; better technology, less bureaucracy, lower expenses…
Between a Rock and a Hard Place
The Federal Reserve is stuck between a rock and a hard place. Since the Great Financial Crisis, the Fed was able to implement expansionary monetary policies…
The Times They are a Changing
Change is generally gradual. It progresses so slowly that it goes unnoticed until there is an inflection point, an event or events that make the new…
Early Take on the Omicron Variant
This morning on Face the Nation, Dr. Scott Gottlieb asked four important questions which we will learn the answers to in the coming weeks. 1) Is…
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