My second week in South Florida was all about work. It was a good week for Deep Knowledge Investing subscribers as news in a few portfolio names led to stock positions moving in our favor. Many of us have large positions in gold and Bitcoin which set multiple new highs during the week. Uranium has been a multi-year large position which rose following President Trump’s plan to build new nuclear reactors on military bases. There was a lot of focus on the bond market this week as both the US Treasury and the Bank of Japan had long-term auctions that didn’t go well. Fortunately, the DKI portfolio was well-prepared for that exact result and we saw a lot of outperformance this week. If you want to know more about my thoughts on that and how we’re positioned, please check out our article on the topic: “It’s the Bond Market – Here’s What We Do”.
I met with one former client who chose to rejoin DKI and another who chose to renew. Lunch with another current client revealed there’s more we can do to support his growing business. While I think we can accomplish a lot via phone calls and Zoom, there are times when it’s helpful to connect face to face and at the slower pace that accompanies a meal together.
On Tuesday, I drove across the State to Naples where I had a fantastic dinner with Tracy Shuchart (@chigrl). We’ve known each other for years, but this was our first time meeting in person. On Wednesday, I was in the NinjaTrader (@NinjaTrader) studio to join them for the morning show. Being live in the studio meant I got to meet Anthony Crudele (@AnthonyCrudele) for the first time. Filming with the team there is a great experience, but you definitely want to show up with your A game as I never know what questions they’ll ask and what topics we’ll cover until the show starts. Definitely the highlight of my week – thanks NinjaTrader!
I had more time with Howard Freedland, my friend and Board Member from Jupiter, another drink with his son, Jared, and we’re going to hear some live music over the weekend. I also had the welcome opportunity to see Howard’s father for the first time in a few years. As noted in the title, there were lots of big wins this week.
As for the small losses, my Dentist and I figured out I need a second root canal. I had planned to fly to Lisbon on Wednesday. Instead, I’m getting up at 3am and flying to New York for an afternoon dental procedure. While that’s expensive, inconvenient, and uncomfortable, I can’t get upset at the Dentist. He delayed thinking I might not need the procedure and he didn’t want to do any unnecessary surgery. In both medicine and investing, the best decisions are always a result of following a good process instead of focusing on the outcome, and that’s what he did. The positive in all of this is it means I’m going to get the opportunity to have dinner with DKI Board Member and energy expert, Kit McArthur and see his wife, Shannon. I’ll have seen five DKI Board Members on this trip so far, and four current and potential clients. Prior visits with other friends, my cousin, and my Great Uncle mean this first month away from home has gone as I hoped it would.
Many of you will be reading this on Memorial Day. I have multiple family members who served in the military, but none who faced as much danger as my grandfather who fought with the 80th Airborne in WWII. He fought through France and Germany and fortunately, came home unharmed. He loved that every Memorial Day I’d call him and remind him how happy I was that we weren’t remembering him that day. From everyone at DKI: For those of you who have served (including several on the DKI Board) we thank you for your service. For those of you who are remembering a friend or family member, we’re sorry for your loss.
On Thursday, I’ll leave for Lisbon and will arrive there Friday morning. As always, I’ll be working and writing along the way, and if you have any questions or comments, reach out at IR@DeepKnowledgeInvesting.com.
