October 31, 2017

In this essay we want to acknowledge the rate and force of change in the world today, and that we believe the US is in an enviable position to benefit. To this end we provide a brief history of broad changes prior to the beginnings of American democratic capitalism- co...

As bottom-up stock pickers, we are inundated with comments from smart people about the next major breakthrough in this or that. Sometimes it comes from a pharmaceutical company talking about a novel treatment, such as cancer vaccines. Sometimes it is a new currency, su...

May 3, 2017

The line above was spoken by the conflicted protagonist in the 1999 movie The Corruptor, directed by James Foley. At least the first phrase in that sentence is analogous to what President Trump is experiencing during his first hundred days in office. The first executiv...

November 18, 2016

Comparing 1968

We started researching this essay to highlight the similarities between 1968 and 2016. Major topics in 1968 echoed in 2016 were Black Power, Women’s Liberation, Gay Rights, and antiwar movements. There was a presidential candidate who opposed changes to t...

July 27, 2016

Amid increasing volatility and a period of consolidation, the S&P 500 Index returned 3.8% through the 2nd quarter and is only slightly above levels reached in December 2014. Within this 18 month consolidation period, under the surface many stocks have had significant c...

 

Flip-Flop 

 

According to William Safire’s 1982 New York Times column On Language, the term flip-flop took off in the 1940s and was used by political commentators to accuse opponents of opportunism. For example, Richard Nixon’s decision to impose wage and price controls...

January 30, 2016

As bottom-up stock pickers, we are nearly exclusively focused on identifying stocks of well-run companies that offer attractive, risk-adjusted return prospects. Our criteria include reasonably valued companies that exhibit durable competitive advantages, strong balance...

October 31, 2015

We seek to own shares of companies with durable competitive advantage. If maintained, a company should consistently generate cash at a rate in excess of its cost of invested capital, generating economic profits. Competitive advantages ward off continual threats that pr...

The Pause That Refreshes

 

Halfway through 2015 the S&P 500 is flat, a refreshing pause from the current stock market advance that began in March 2009. It is now the second longest bull market since 1962 and the third largest in terms of appreciation in over fifty years....

With the spate of articles and analyses of how index investing is superior to active management, it is time we weighed in on the topic. We acknowledge that the average active manager has not outperformed their benchmark index for the past few decades. First of all, the...

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The opinions expressed herein are those of Redmond Asset Management, LLC (RAM) and are subject to change without notice. Past performance is not a guarantee or indicator of future results. Consider the investment objectives, risks and expenses before investing. You should not consider the information provided on this website as a recommendation to buy or sell any particular security and should not be considered as investment advice of any kind. RAM was established in 2005 and is registered under the Investment Advisors Act of 1940. Additional information about RAM can be found in our Form ADV.  

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