I’ve been seeing warning signals since the spring that we’re in the later stages of this economic cycle so I wanted to post an update to illustrate. One thing to mention is that cycles tend to move very slowly which can be a double-edged sword. It’s nice because you can typically read the tea leaves…
Here are some portfolio changes from last week. New Investment: Walgreens Boots Alliance (WBA) We purchased stock in Walgreens last week. Concerns that Amazon is expanding into drug distribution with their purchase of Pillpack earlier this summer knocked the stock down to a pretty attractive valuation. I think this is a massive overreaction similar to…