Bull Sessions (5/2/2023)

The PROVE is out there. How many days early can we start the Cinco de Mayo celebration? We need a new fund to track international opportunity because ADRE evaporated while we were pondering a segment for the past few weeks. Oops. We will walk through a PROVE calculation for a favorite stock or two -- and continue to solidify the reconciliation of P/E and forecasts.

In this May 2nd, 2023 Bull Sessions webinar, Mark Robertson and Ken Kavula, joined by Matt Spielman, explored the concept of "regret resistant accumulation opportunities" – a strategy where investors patiently wait for quality companies to languish at attractive prices before accumulating shares. The speakers illustrated this principle using historical examples like Home Depot, which experienced five-year flat periods despite growing sales, and Microsoft, which was "dead money" for over a decade following the dot-com crash. They emphasized that patient investors who understand the disconnect between operational improvements and stock price stagnation can build positions at discount prices before eventual market recognition. The session also included substantial discussion of regional banking concerns, with particular focus on PacWest and Western Alliance amid market turmoil following the Silicon Valley Bank and First Republic Bank crises, emphasizing the importance of rational analysis over panic-driven selling.