Greater and Lesser Fools Grizzled investors will tell you that if you feel euphoric after a trade, it wasn’t a good one. You should feel awful and be second-guessing yourself. That’s the sign of a great trade.” –Andy Kessler, “A Stock-Trading Dupe is Born Every Minute”; The Wall Street Journal (2/21/2021). Admittedly, three weeks does seem...Read More
The Wall Street Journal Editorial Board Swings and (Badly) Misses [Note to readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway (“Berkshire”), or any other entity referenced. Edina Realty is a subsidiary of Berkshire.] It’s difficult to think Mr. Trump ever envisioned what followed [his...Read More
Electoral Illogic, or, “Has it Happened Yet?!? How About NOW??” [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] With less than two months until the election, not only is Donald Trump flailing, so are some of his usual...Read More
How is Minnesota’s Governor Doing? Ask Minnesotans The sad news from the Land of 10,000 Lakes (and nearly 50,000 state employees) is that Minnesota has been implementing the disastrous Covid-19 strategy made famous by New York’s Gov. Andrew Cuomo. The essence of the plan is to forcefully reduce the income of people at low risk,...Read More
Will It Issue a Correction?? [Note to Readers: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] If 10% of the economy shuts down for one quarter, that would be considered a 40% decline at an annual rate.” –“Coronavirus Slump Is...Read More
Alternative for Would-Be Sellers: Taking a Break “The recipe is cash and balls: Throw in a very low offer and see what sticks. No guts. No glory.” –“As Coronavirus Cases Grew, Some Wealthy Buyers Still Bought Multimillion Dollar Homes”; The Wall Street Journal (3/26/2020). [Note to Readers: The views expressed here are solely those of...Read More
