The year is rapidly drawing to a close, and what a year it was. Many important issues came into the spotlight in 2010 -- too many in fact to cover in a short post, so we've selected three to discuss which we believe include some of the more important lessons investors can carry with them from 2010 into the years ahead.The world is waking up to the...
Wednesday, December 29, 2010
Google and Groupon
P Morgan Brown has a noteworthy article discussing Groupon's decision to spurn Google's $6 billion buyout offer and raise more cash themselves to expand.*Beyond the specifics of the Groupon story itself, the article provides plenty of food for thought on important subjects such as acquisitions, the importance of management teams, different management...
Friday, December 24, 2010
Seasons Greetings and Warm Wishes
Seasons Greetings and Warm Holiday Wishes from all of us here at Taylor Frigon Capital Management!The photo above shows this year's wreath-laying ceremony at the General Grant sequoia in the Sequoia and King's Canyon National Par...
Thursday, December 23, 2010
Zombie economics
The New York Times recently published an op-ed by columnist Paul Krugman entitled "When Zombies Win," in which the author laments that the extension of lower tax rates are a puzzling example of the triumph of "free-market fundamentalists" (as an aside, we prefer the term "free enterprise") whom, he declares, "have been wrong about everything."He goes...
Monday, December 20, 2010
Andy Kessler: "Spectrum Scarcity? Hardly."
Andy Kessler has an excellent article on his website entitled "Spectrum Scarcity? Hardly." We've referenced his writings previously, such as in this post. In this article, as well as in a subsequent interview on Tech Crunch, he is discussing the concept of "net neutrality" -- or, more precisely, the role of government in regulating commercial practices...
Friday, December 17, 2010
Noteworthy article: "iPhone added $2 billion to trade deficit with China"
We've called our readers' attention before to Carpe Diem, the excellent blog by Dr. Mark J. Perry, professor of economics and finance at the School of Management in the Flint campus of the University of Michigan (see for instance here and here).Professor Perry recently posted a noteworthy analysis entitled "iPhone added $2 billion to trade deficit...
Thursday, December 16, 2010
Lawlessness in California
Classical scholar, university professor, and author Victor Davis Hanson has a new article entitled "Two Californias" chronicalling some of his on-the-ground observations from the great Central Valley of California, one of the most productive agricultural regions in the world. He reports some dismaying developments, but ones which are not surprising...
Wednesday, December 15, 2010
Noteworthy article: "How the bond market vigilantes work"
Here is an excellent article from economist Scott Grannis entitled "How the bond market vigilantes work." We recommend all investors interested in understanding the current situation with the bond market and QE2 read it carefully.We have been concerned about the inevitable snap upward in bond yields (and corresponding drop in bond prices) for some...
Tuesday, December 14, 2010
Noteworthy article: "Netflix everywhere"
Here is a noteworthy article from Wired magazine entitled "Netflix Everywhere: Sorry Cable, You're History," written by Daniel Roth.*We recommend it for several reasons. First, it is an excellent illustration of a "paradigm shift." We have discussed the importance of this concept in numerous places, such as here and here.Second, it relates to the...
Monday, December 13, 2010
Noteworthy article: "The Democracy Recession"
Here is a noteworthy article from today's Wall Street Journal opinion page, entitled "The Democracy Recession."*We believe that investors should read it in conjunction with our previous posts, "The Four Pillars" and "Does a rising tide really lift all boats?"We would also point out the distinction between "democracy" and true economic freedom, discussed...
Monday, December 13, 2010
Noteworthy article: "The puzzling assault on for-profit colleges"
Here's a noteworthy article discussing entitled "The Puzzling Assault on For-profit Colleges,"* and it is one with which we agree. The article discusses the latest government ideas for increasing regulation of the for-profit higher education industry.We believe that investors should read it in conjunction with our previous posts, "Intellectual affluence"...
Thursday, December 09, 2010
Have you heard of this company? EZCH
We've spent some time discussing what we believe is the biggest transformation affecting both the business landscape and our day-to-day lives: the enormous increase in the amount of data that can be sent rapidly and inexpensively from place to place. We would advise readers to go back and visit our recent post "Another wake-up call" and look at the...
Friday, December 03, 2010
The "wealthiest" tax rates matter to everyone
The debate over extending the current tax rates is raging, and we believe that the most important economic consideration is being left out of the argument by both sides in this debate.Currently, the argument is being framed something like this: one side proposes the extension of the current lower rates for "the middle class," but letting the lower...
Monday, November 29, 2010
Another wake-up call
The world is mostly consumed with worry over European sovereign debt as we head into the end of November. We've discussed this subject several times in the past, in posts such as "The question of our time," (06/06/2010), "Not fragile" (07/28/2010), and the recent "European debt issues and the primacy of growth" (11/08/2010).We've said all along...
Wednesday, November 24, 2010
Happy Thanksgiving 2010
This is our fourth Thanksgiving for the Taylor Frigon Advisor, and in keeping with the tradition of our previous posts on this holiday, we find it fitting to reflect on the countless blessings of a free enterprise economy (follow these links to previous Thanksgiving posts from 2007, 2008, and 2009). Such reflection is invited by the very nature of...
Monday, November 22, 2010
Have you heard of this company? NAT
In the past, we have highlighted examples of classic Taylor Frigon growth companies: well-run businesses positioned in front of fertile fields for future growth.Today, we're posting a November 8 interview with the CEO of a company we own in our Income Strategy, which seeks income-producing securities, some of which may be debt-based (such as bonds)...
Tuesday, November 16, 2010
"Greened" Into Economic Oblivion
In this Wall Street Journal article, our good friend and venture capital partner George Gilder has eloquently framed the salient issues surrounding "green" investing. George highlights the unintended consequences that are already being felt due to the almost cult-like obsession that many in the political, business and now venture capital community...
Friday, November 12, 2010
A growth-based perspective on income investing
asdfasdWe've been accused of having a one-track mind when it comes to our message to investors (invest capital in well-run companies positioned in front of fertile fields for future growth). While we take that as a compliment, we decided that, just in case some readers might be a little tired of reading about the importance of growth (if it is possible...
Monday, November 08, 2010
European debt issues and the primacy of growth
We'd like to elaborate a little further on the question of US Treasury bond yields, which we touched on in our previous post about those who fear nobody will want to lend to America since "we don't make anything here anymore." The comparison is often made between the US and countries such as Argentina or Greece, with the admonishment that America...
Thursday, November 04, 2010
Glenn Beck is an economic butterbar
There's an old saying in the US Army that "there is nothing more dangerous than a second lieutenant and a map." The gist of this rather unkind sentiment is that a second lieutenant (the most inexperienced officer rank) has a lot of authority, as well as a lot of training, but does not yet have the experience to have the big picture. Everyone who...
