Author name: ASYMMETRIC CAPITAL ADVISORY LLC

Our March quarterly letter focused on the severe correction in growth stock valuations resulting from the doubling of the yield on ten year US treasuries.  Higher rates mean that future earnings become relatively less valuable.  But that time tested corollary assumes that the market correctly anticipates the actual level and timing of those earnings.  We […]

As we close the books on 2020 and enter the new year, it may be instructive to spend some time thinking about what got us here; how, in the midst of so much pain, can the stock market be at all time highs and at such lofty valuations? Of course, there is the Federal Reserve. 

As I write this letter, COVID 19 reported case counts have hit daily records in excess of 80,000 and the on again, off again, negotiations on another government stimulus seem to be…off again.  More than 11 million Americans find themselves unemployed, and Pfizer announced earnings this morning without any statement as to the efficacy of

I’ve been reluctant to write this blog although many have suggested it over the last couple of years.  I’ve hesitated because it is a deeply personal story.  Sometimes I have been reminded that my story is an illustration of my character and therefore directly indicative of my abilities as an advisor.  In the late summer

April 21, 2020 My previous letters have referenced the asymmetric risks and rewards of investing in a world of geopolitical uncertainty and technological possibility. We must now weigh the effects of biological stresses on our social and economic structures.  The volatility of the final six weeks of the quarter reinforces our commitment to the ownership

I read this article in the WSJ recently about a ninety something year old former physician and what it was like to make house calls; how much the patients appreciated his being there at 3:00 in the morning. And how grateful he was for their appreciation. It reminded me of what the advisory business was