Bull Sessions (6/28/2022)

An Ode to Buc'ees? Ken Kavula and Mark Robertson share some highlights from the NAIC National Convention that wrapped up Tuesday in Dallas. Our mission? To share some time-honored traditions and methodologies and ideas and perspectives with a gaggle of long term investors. How did we do?

In this Bull Sessions webinar from June 28, 2022, Mark Robertson and Ken Kavula share highlights from the Better Investing convention in Dallas, discussing the state of the market and their investment club's portfolio performance. They highlight Ralph Akampora's influential speech about stock picking versus index investing, and emphasize how individual investors using the Modern Investment Club methodology have historically outperformed broader market indices during challenging periods. The speakers report that Value Line's Median Appreciation Projection has increased to 15.8%, representing one of the strongest return forecasts since 2008-2009, suggesting significant market opportunities despite recent market volatility.

The webinar covers portfolio adjustments and performance tracking, including updates on their best small companies list and groundhog competition among club members. Ken Kavula discusses the decision to place Axos Financial in a timeout position due to negative press coverage and reputational concerns, while maintaining confidence in the company's long-term potential. The speakers encourage investors to shop among small-cap growth stocks, which they believe offer substantial opportunity given their bearish positioning. They also highlight Ken's successful selection of InMode as a positive example of active portfolio management and the value of fundamental stock picking in volatile markets.