November 25, 2014

Below is a link to the video clip of Chris Grisanti on Bloomberg Television discussing our new investment in the credit card business, including Synchrony, a spin off from General Electric, and several other companies.

October 31, 2014

Below is a link to Chris Grisanti’s discussion of oil on today’s Market Makers show on Bloomberg Television.   The more interesting part begins at 5min30s.

October 1, 2014

Below is a clip from Bloomberg Television in which Chris Grisanti talks about reducing GCM’s position in the financials.  More broadly, he explains our process of investing in companies (like the financials) for a three to four year period, and then, as they appreciate, selling them and moving on to other, more attractive alternatives.

July 15, 2014

Chris Grisanti was interviewed on Bloomberg TV about our Oil Refining investments.

June 17, 2014

We’ve never owned Airline stocks prior to August 2013.  Now we own American and United, and they’ve been our best investments over the past six months (up about 50% each).  Chris Grisanti was on Bloomberg Television this morning explaining how we got comfortable with a group we’ve avoided in the past, and when it’s time to sell.

The Makeover: Morgan Stanley’s Strategy of Lower Risk may be New Model for Wall Street

June 7, 2014

Chris Grisanti was quoted in Barron’s concerning our long-term investment in Morgan Stanley.  One of our most profitable investments in the last three years, Morgan Stanley remains a core financial holding..  Here’s the excerpt that discusses Morgan Stanley’s move away from trading and towards investment management, with its more stable revenue stream: 

Barron’s  (June 7, 2014)

The Makeover: Morgan Stanley’s Strategy of Lower Risk may be New Model for Wall Street

By Avi Salzman

….Big banks, of course, still carry sizable risks. Morgan Stanley’s legal expenses remain unpredictable, rising to $1.95 billion in 2013 from $513 million the previous year because of lingering litigation and investigations over mortgage-backed securities. But analysts see less legal risk for Morgan Stanley than for rivals like Bank of America.

The second quarter could prove rocky for Morgan Stanley and other banks, some of whom say trading is down 20% or more. But Morgan Stanley is getting better at weathering bad news. Even if the economy sputters, the company’s successful restructuring gives investors another reason to buy, argues Christopher Grisanti, a principal at Grisanti Capital Management, which held more than 400,000 shares at the end of the first quarter.

“To invest in the other banks, you’re investing because the world is getting back to normal,” Grisanti says. “But for Morgan Stanley there’s a transformation taking place. They’re transforming themselves into a company that has more reliable cash flow and doesn’t risk its balance sheet to produce it.”

The second quarter could prove rocky for Morgan Stanley and other banks, some of whom say trading is down 20% or more. But Morgan Stanley is getting better at weathering bad news. Even if the economy sputters, the company’s successful restructuring gives investors another reason to buy, argues Christopher Grisanti, a principal at Grisanti Capital Management, which held more than 400,000 shares at the end of the first quarter.

“To invest in the other banks, you’re investing because the world is getting back to normal,” Grisanti says. “But for Morgan Stanley there’s a transformation taking place. They’re transforming themselves into a company that has more reliable cash flow and doesn’t risk its balance sheet to produce it.” 

May 13, 2014

Chris Grisanti was guest host on Bloomberg’s Surveillance with Tom Keene.  Here’s a short clip in which Chris discusses the hazards and opportunities of investing in the current market.

April 14, 2014

Chris Grisanti was the guest host on Bloomberg Surveillance.  He discussed Grisanti Capital Management’s reduced exposure to the financial sector, a new investment in General Motors and his outlook on the market in light of the recent volatility.  The short video is found at the link below.

January 15, 2014

Here is a clip of Chris Grisanti on Bloomberg Surveillance with Tom Keane.  It is a detailed explanation of why we have invested in the financial industry since the 2008 crash and how we see those companies evolving in the future.  As mentioned in the quarterly letter now being mailed to clients, our investments in JP Morgan, Morgan Stanley and others have been very profitable, but may be nearing their end.