Jordan S. Terry is the Founder & Managing Director of Stone Street Advisors LLC. He has a BS in finance with minor coursework in engineering & entrepreneurship from Penn State, and an MBA from NYU Stern School of Business with concentrations in corporate finance and business law. He has work experience in corporate development, investment banking, operations, and investment research. His investing/analysis experience spans more than 10 years across virtually all industries and sectors. He has written about business, technology, innovation, policy and finance (both theory and practice) as well as industry- and firm-specific analysis since 2005. In 2011, Jordan founded Stone Street Advisors LLC, an investment research and consulting firm catering to investment funds and corporations. Stone Street's track record of picking both long and short ideas has significantly outperformed the S&P500 on both a absolute and relative basis (detailed information available upon request). He has written fairly extensively for The Atlantic, Forbes (where he has a column, "Fundamentally Speaking"), Zerohedge, Business Insider and other popular outlets, and his work has been highlighted by FT, WSJ, CNBC, NYT, The Globe & Mail, The Deal, and virtually every other major financial media outlet.
I invest (technically) part-time, but I love the markets and immerse myself in them daily. I enjoy writing about my investment ideas as it helps me to organize my thoughts and I am happy to share if it helps others. I invite criticism as it will help sharpen my ideas, so please tell me where, in your opinion, I am going wrong.
I have been dabbling in stocks, since my Father and Uncle hired me to do their daily stock entries. This was the days when investors transcribed daily price changes by 1/32 from the fine print at the back of the business section onto green gridded accounting logs.
I didn't have my own money to invest until after college, so I bought a few and largely forgot about them. By that time, online charting replaced the weekend work my Father did by hand from my entries into his log, I was living on my own in my own city. I wasn't around to learn stochastics from my Father, so I never got beyond a cursory understanding of the technical aspects of charting and reading trends. This is only one area in which I am getting a deeper understanding. Macro trends is another area, and reading between the lines of annual reports and quarterly statements is continually a new frontier.
I do not aspire to be a day-trader, as my Father was. An individual investor cannot typically compete with large fund investors. The insider knowledge, automated trading, ability to swing a trend with large volumes can overwhelm an individual investor who is trading strictly on technicals.
Instead, I have blended my Father's technical style with my Uncle's fundamental style. I choose investments based on a company's financial soundness, products' prospects, and fit with my ethical outlook. I buy, hold, and sell based on my improving use of technicals.
I do not participate in margins. The "puts" and "calls" seem too much like gambling, rather than investing in a business that is uniformly good for country, community, family, and my personal goals. Where I spend my dollar is as important as my democratic vote.
I cashed in most of my early stock investments, to buy a house with husband back in 1989 and later for a renovation, when our second child was born in 1995. Motherhood replaced many activities, including equity investments. We bought a few bonds instead and largely forgot about them. Luckily they all matured before 2009. Unfortunately, our money market and 401K accounts were devasted by the banking crash. In the midst of college for three, we are nearly back to our 1980's newly married square-one financial position. Thankfully, we never moved out of our first home. None the less, I have to do something big in the next 15 years. Otherwise, our retirement will be spent in a tent in one of children's backyard!
So I am finally taking investment seriously and into my own hands. I opened a Scottrade account--I can hear my Dad, "FINALLY." I will keep selected equities with Hilliard-Lyons, but the trading fees are too high to manage an aggressive growth portfolio. I am reading daily and have subscribed to a few newsletters/blogs. I have added release dates of reports and statements into my calendar--I can hear my Uncle, "It's about time."
Now I am on the hunt for an affordable robust charting app. Can anyone recommend one? Worden's Bros TC-2000 is great but cuts too deeply into profits for my portfolio at its current size.
25+ years experience as an investor. Fundamental, bottom-up approach, research-driven focus; buy / sell; value-oriented; special situations; catalyst investor; expertise in distressed company / bankruptcy analysis.
MBA University of Chicago, BA Management, AD Electronics
Retired Tech Industry Executive
Interests - Economics (Global, Macro, Micro), Technology
Investments - Large multinational stocks with dividend growth. Option trading using near-term covered calls and acquisitions using put options to amplify dividends. Occasional trades on equity holdings.
Investor with 10 years experience in the investment management community. My interests are mainly around innovation and technological disruption, but I allow myself to look into situations in other sectors.
Full-time investor. Formerly buy-side credit analyst (2yrs) covering Japanese + Asian companies. Before that, I was a cross asset derivatives salesperson at a large bulge-bracket firm, based in Tokyo (4yrs). I use Seeking Alpha to clarify and synthesize my investment thought process and to elicit feedback on my theses; additionally I like to connect with other investors and swap ideas.
You can read my finance-related blog at rapercapital.com (less organized than Seeking Alpha writeups, more my random musings on various finance-related topics).
Going forward I will try to tweet my investment-related thoughts/updates to articles/etc. You can follow me on Twitter, my handle is @puppyeh1
Always looking for new ideas across the board. Happy to exchange ideas/share thoughts/swap notes, feel free to private message me. I currently live in Singapore.
Full-time Investor, and frequent speculator.
Focus on US Stocks and Real Estate.
Degree in Economics and Finance.
Over 35 years of economic analysis and active investing experience. Retired Financial Services CEO (company had $2 Billion in financial assets).
Macroeconomic conditions and cycle progression are the foundation of my investment strategy. I evaluate the macro trend, and then select investments that will benefit from that trend, shifting the mix as the cycle progresses. Earnings growth is the sustainable fuel for investment gains. So, I look to position my portfolio accordingly.
I stay fully invested during the rising tide of a growing economy. I use leverage until the expansion shows signs of constraints and exhaustion. Rising input costs (wages, materials, energy, interest rates) eventually squeeze corporate profits, making growth less feasible. When I see evidence of a coming recession combined with weakness in the market, I exit my equity positions, reduce my real estate holdings, and shift to the safety of cash and treasury bonds. After the market slides deeply, and after the panic reaches headline proportions, I begin to reinvest as I anticipate or see evidence of the market bottom. I successfully avoided the 2001-2002 and the 2008 bear markets, while being fully invested for the bull markets around those declines.
In prior cycles I purchased individual stocks. However, during this bull market I am making heavy use of ETFs (including Sector ETFs). This is much less work, but results in more average returns. I do purchase some individual company stocks when I think the company will perform better than the average in its industry sector. I do not sell short, and rarely use options.
My portfolio is about half market tracking. I also use sector rotation, selected specific companies, modest margin debt, and 3x leveraged ETFs, within the rising cycle trend to magnify and outperform the average trend. I also adjust the size of my market exposure based on market conditions, and historic patterns.
My gross investment asset allocation target is roughly 70% stock, and 30% real estate (rentals). Current Stock Portfolio Mix (Aug 2016): 47% Broad Market Tracking (VTI, SPY, RSP, QQQ, VB...),18% Homebuilders and related, 15% Consumer Discretionary (VCR), 07% Industrials (XLI), 05% Berkshire Hathaway, 08% all other. Margin Debt is about 4% of portfolio value. Total Market Leverage is 1.05x (down from 1.34x in 2014). No bonds, and cash is less than 2% of gross assets. Real Estate is Residential Rentals, mostly near the beach (average LTV is about 40%).
Over the past 35+ years of active investing in stocks and real estate, my investment returns have been significantly above the average return of the S&P 500 (largely due to market timing and leverage). Since October 2007, my Stock portfolio average total return has been about 15% per year, compounded. My Real Estate portfolio average total return has been about 8% per year for the same period. The S&P 500 average total return has been about 6% per year during the same period.