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  • Iron Capital Perspectives
  • January 6, 2025
  • Chuck Osborne

Happy New Year!

We limped to the finish but 2024 was still a good year. What does that mean for 2025? There is lots of talk about the low odds of the market having three big years in a row, but that is all talk; no one who has actually looked at the data would come to that conclusion.


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  • Iron Capital Perspectives
  • December 16, 2024
  • Chuck Osborne

A Tale of Two Stocks

What do these two unrelated stocks have in common? They are high-quality companies whose stocks were selling at what we deemed to be an attractive price. It did not matter that one was purchased when its stock price was going down, while the other was purchased when its stock price was going up; The price movement of the past has no bearing on whether the current price is a good value.


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  • Iron Capital Perspectives
  • November 25, 2024
  • Chuck Osborne

What Now?

2024 has been a great year for the market: The economy has continued to grow faster than predicted; Inflation has slowly but surely gotten better; The elections are behind us, and there was a clear winner and no real protest. We enter the holiday season with a deep sigh of relief, but wondering, what now?


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  • Iron Capital Perspectives
  • October 30, 2024
  • Chuck Osborne

Was That Necessary?

The Fed controls one rate, the overnight Fed Funds rate; all other interest rates are determined by the market, which is under no obligation to follow the Fed’s action. It has chosen not to do so this time because economic data has been strong. That positive economic data also confirms that the Fed didn’t need to lower rates in the first place.


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  • Iron Capital Perspectives
  • September 10, 2024
  • Chuck Osborne

The Boy Who Cried Wolf

I was reminded of this fable last week as once again the pundits on Wall Street cry, “Recession!” or at least economic slowdown. As we have chronicled already, this incorrect call has been going on at least since the beginning of 2023. They will not admit that they are wrong, but will keep making the same call until it is finally right.