The MercadoLibre Paradox
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Over the past five years, MercadoLibre has grown both revenue and profit dramatically — yet its stock price has gone nowhere. Could this be an opportunity?
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Insights Blog
News, insights and thought leadership from the City Different team.
The MercadoLibre Paradox
What Investing Can Teach Us About March Madness
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We've officially entered my absolute favorite time of the sports calendar year. As millions of others around the country have done this past week, I sat down to fill out my bracket for the annual Van...
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Are Treasuries Still Safe?
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Since April, I've had a lot of conversations about whether Treasuries are still a viable safe haven investment. After “Liberation Day,” 10-year Treasuries sold off by ~50 basis points, creating a...
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Helping Nonprofits Turn Profits
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Among the things I’ve been lucky enough to do in my professional life in Santa Fe, NM, two stand out: I’ve enjoyed a successful career in finance and have been involved with several nonprofits...
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Henry Ford, Labor Strikes, and Investing
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The Big Three U.S. auto workers went on strike in September. Labor and management couldn’t come to an agreement about how to split the proceeds from producing automobiles. This is such a pivotal...
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Golar LNG Limited: Ready to Set Sail
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“We can and we must reduce Russian LNG exports to phase them out completely.” -- EU Energy Commissioner Kadri Simson
The Old Normal
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Last week, the Fed announced that it would not raise the Fed Funds rate in September. By our way of thinking, though, they left the door open for future increases (data dependent). This left us...
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It's a Great Time for Muni Bonds
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We have long written about the two periods when the municipal bond market organically generates the most cash flow into the market — the January / February period and the June / July period. These...
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Fixed Income as a Service
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Companies have been rethinking how they do business across industries, geographies, etc. Remote vs. hybrid vs. in-office, fractional executives, outsourcing, you name it. But we think a huge change...
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Your Questions Answered
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Are we headed for a recession or what? Why are mortgage rates still going up? Why shouldn’t I put all my cash into CDs right now?
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Why is the Economy so Resilient?
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The week of August 14, 2023, has been a tough one for most markets. Stocks are down, and bonds are up in yield. Many street analysts are changing their outlooks from “a recession is around the...
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Investing in the Nuclear Renaissance
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Although we haven’t seen it yet, Universal Pictures’ star-studded film Oppenheimer hit theaters last weekend, and it looks compelling. Oppenheimer chronicles the life of J. Robert Oppenheimer, the...
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Grippy Mountain Bike Shoes
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Like many people during the pandemic, I decided to pick up a new hobby. With basically everything shut down, and the outdoors being one of the only relatively safe spaces available to us, my quest...
Avoiding The Cash Trap
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5.5% seems like a pretty great investment return for cash-equivalent instruments. Given how low the risk is for a CD or money market funds, taking the 5.5% and running seems like a solid bet right...
Small-cap, large-cap, index funds, oh my!
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There’s been an interesting discrepancy between the stock market performances of U.S.-listed large vs. small-cap companies in 2023. The S&P 500, which comprises the largest 500 companies listed in...
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CDI goes B
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As the climate crisis escalates and social inequality widens, businesses are increasingly held accountable not just for their profits, but also for their impact on both people and the planet. The B...
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Memorial Day Default Madness
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It’s the Friday before Memorial Day, a national holiday honoring all those who died while serving in the U.S. military. It’s also seven days before the United States hits the default wall. The...
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ESG Investing
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At City Different Investments, we try to live up to our company’s name by actually investing differently. We believe the way we think about investing is, well, different from most other investment...
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The Power of Long Term Investing
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Long-term investment horizons are often talked about, but not always practiced. For most clients, investment goals are measured in years (or maybe even decades). But many investment professionals...
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The Wisdom of Crowds
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Our investment philosophy follows a fundamental belief — the stock market functions much like the classic jelly-bean-counting experiment. That might sound strange, but hear me out:
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The Worst Thing You Can Do Is Nothing
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The problems/resolutions of both Silicon Valley Bank and Signature Bank bring to mind a Theodore Roosevelt quote: “In any moment of decision, the best thing you can do is the right thing, the next...
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Risk Management
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Risk management often carries the reputation of being “command and control.” Is it possible for institutional-class risk management to exist in a culture of freedom and responsibility?
Cash Reserve Management
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“What do you do with cash?” is an investment question as old as, well, investing. It’s rare (and usually unwise) that an investor would have the entirety of their assets or holdings actively trading...
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Idiosyncratic Alpha — Not a Factor Bet
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With a large reversal in factor returns over the last two years, we’re hearing this question a lot: Can active management deliver outperformance that isn’t dependent on systematic factors?
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Bonds Are Back
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Please fasten your seat belts and return your tray tables to the upright and locked positions — we will be landing soon.