Do you make buy/sell recommendations?
Yes. Every month, Capital & Crisis usually recommends at least one investment idea per month.

What makes a good Capital & Crisis investment?
I look for tangible assets, cash flow, simple businesses and bargains. Investments are typically well financed and sturdy businesses that appeal to more conservative, value-oriented investors.

What are "tangible assets that sweat"?
The phrase is used to describe our investment style. In Capital & Crisis, the emphasis is on finding companies that own tangible assets (real estate, timber, hotels, cash, etc.), as opposed to intangible assets (goodwill, capitalized software development costs, etc.). Tangible assets tend to increase in value over time and generate cash flow (they "sweat").

What sort of time frame do you look at?
Ideally, my aim is to hold our investments for at least one year. However, many of our holdings have been in our portfolio for much longer.

Do you provide portfolio updates?
Yes. If there are any changes in the ratings of our stocks or other important information I want to pass on to you, these will be provided via e-mail.

What broker should I use?
At the present time, Capital & Crisis does not endorse or recommend specific brokers. Any broker should be able to handle the investments recommended in Capital & Crisis.

What investments should I buy?
The very best picks in our portfolio are rated "buy." Our "hold" stocks typically represent stocks that have seen large gains from our entry position and are no longer super-attractive for new money, but are still worth holding for their upside potential.

What percentage of my portfolio should be in Capital & Crisis stocks?
This is going to be different for every investor. The Capital & Crisis portfolio is not created to be a balanced or well-diversified portfolio. However, for those investors looking for individual stocks to buy, Capital & Crisis is an excellent resource.

What is net asset value?
Net asset value, or NAV, is basically the value of assets less debt. It is an important way to measure whether a stock may be under- or overvalued. Ideally, we look for companies selling for less than our estimate of their net asset value.

What is cash flow?
Cash flow is the actual cash a business generates, as opposed to earnings, which is subject to various accounting assumptions. Cash flow is critically important to our analysis.

What is capex?
Capex is short for capital expenditures. It means funds that are invested in the business ( to purchase new equipment, for example). Of critical importance is the fact that capex is not shown on the income statement and not included in earnings.

What is free cash flow?
Free cash flow is basically cash flow after capital expenditures.