◀ The Principal Blog

ESOPs in the Arena



Recently I was reminded of a very famous quote from President Theodore Roosevelt: It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face…

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The View from Brazil on Earnings, Currency Effects, and Picking Stocks



Driving through the busy streets of Rio de Janeiro on a gloomy, rainy day was a reminder of the same gloomy mood of equity investors I observed while recently in Brazil. Brazil’s economic slowdown, led by commodity price declines, and its political uncertainty over potential presidential…

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