Steve Selengut

How's Your Investment Portfolio Doing? Seven Long-Term Indicators

Before Wall Street and the media combined to make investors think of calendar quarters as "short-term" and single years as "long-term", market cycles were used as true tests of investment strategies over the long haul. Bor-ing. There were four types o... Read >

Golf and Investing Lessons: Working The Ball

I think it was the immortal Ben Hogan who quipped: I can put "left" on the ball and I can put "right" on the ball--- "straight" is essentially an accident. Most amateur golfers would make a slightly different observation. We can hit the ball left or right... Read >

Golf and Investing Lessons: Fundamentals

Is it luck or skill that gets us to the goals and objectives we set for ourselves--- gimmicks and software programs or practice and understanding? How many golfers are still using the putter they started with decades ago at a nine-hole cow pasture? How ma... Read >

Investing and Golf: Tin Cup Lessons

Benjamin Graham was an economist, financial analyst, and professional value investor. He was one of the first to advise investors to look beyond the media hype and confusion to find undervalued stocks that would become part of a diversified portfolio. ... Read >

Investment Performance Evaluation Re-Evaluated: Part Two

The Working Capital Model (WCM) looks at investment performance differently, less emotionally, and without a whole lot of concern for short-term market value movements. Market value performance evaluation techniques are only used to analyze peak-to-peak m... Read >

Investment Performance Evaluation Re-Evaluated: Part One

It matters not what lines, numbers, indices, or gurus you worship, you just can't know for certain where the stock market is going or when it will change direction. Too much investor time and analytical effort is wasted trying to predict course correction... Read >

Stock Market Corrections Are Beautiful--- And Necessary

Every correction is the same, a normal downturn in one or more of the markets where we invest. There has never been a correction that has not proven to be an investment opportunity. You can be confident that governments around the world are not going to a... Read >

Hedge Funds: An Under The Radar Crisis

The other day, with the market giving up about a third of its March gain in DJIA points, I went looking through my favorite market stats to see if any remaining profits could be pounced upon. Typically, profit possibilities can be identified quickly on NY... Read >

Who Created The Financial Crisis - How And Why

"The Big Takeover" by Matt Taibbi is probably the best article written to date explaining the financial crisis and how we got to where we are now. Taibbi's necessarily lengthy article explains the problems, names the "poipetrators", and exposes all of the... Read >

Investment Performance Expectations: WCM Fine Tuning

Contrary to popular belief and Wall Street propaganda, investing is not a competitive event. Rather, it is a uniquely personal, goal-directed activity that individuals must organize and control for themselves. Too few appreciate that it is a long-term ent... Read >

IGVSI Performance Expectations - WCM Portfolios

No investor should ever be surprised by the changes in market value that appear on his or her monthly brokerage account statements. In general, media noise throughout the month should lead to a feel for what has been going on and investors should understa... Read >

Crisis Investing - A Three-Pronged WCM Strategy

One of the great things about being a professional investor is the opportunity one has to apply his or her long-term experience to the investment environment that is unfolding (or coming unglued) in the present. If nothing else, most successful investo... Read >

The Investment Gods Are Angry

The Working Capital Model (WCM) is an historically new methodology, but with roots deeply imbedded in the building blocks of capitalism, and financial psychology--- if there actually is such a thing. The earliest forms of capitalism sprung from ancien... Read >

Working Capital Investing – The QDI

Crash! The 2007 thru 2008 financial crisis halved 401(k), IRA, and Mutual Fund values in a matter of months. For many, retirement dates had to be pushed back; for others, new jobs had to be found. The tragic flaw? No income allocation in the investment pr... Read >

WCM Investing - The Process

Most people enter the investment process tip first. They hear something, grab an idea from a popular blog, accept a Cramerism or some motley foolishness, and think that they are making investment decisions. Rarely, will the right-now, instant-gratificatio... Read >