Investor/Blogger/Speaker on The Media & The Market
Contributor's Links: Kort Sessions

I have been investing in stocks for over 60 years.  I began my career in the brokerage business as a retail stockbroker in 1970 with a Kansas City based regional firm.  That firm  was acquired in 1978 by Kidder, Peabody.  At Kidder my business moved to the institutional ... more


EC “Everyone Seems To Be Bullish … Here’s What Could Go Wrong”
Beware of those with the current message that the market is overvalued based on a historical price/earnings ratios because they give no context with their warnings. You need to view this in the context of what returns alternative investments offer.
“Damn The Torpedoes … Full Speed”…Ahead!
Is the market sailing in torpedo infested waters? Ansolutely. Here are the two things that worry me the most...
"Bull Markets Often End With A Euphoric Rally Called A ‘Blow-off Top.’ We May Have Just Had One”
No serious observer of the markets could even come close to calling the market’s action over the past few weeks a blow-off top. Yet CNBC managed to host just such an opinion. Here's why I disagree...
“Buy, Sell Or Fold” — A Market History And MLP Retrospective
The Alerian MLP Index (AMLP) peaked in 2014 at 531. It closed 11/29/19 at 201, its lowest level in the lowest level in almost 4 years.
“The Wrong Kind Of Stocks Are Leading The Stock Market To Records”
The “wrong kind of stocks” in Wilson’s mind are defensive… names like Pfizer, Merck, and HCA.. This is all happening while the faster growth leadership names like Amazon and Alphabet have been lagging. Here's my reaction.
“Walking A Tightrope”
“Walking A Tightrope” was the title of Bloomberg’s “Weekend Reading” post, which captures and caters to the angst in the market place about the global economy and fear of the “R” word.


Latest Comments
“Everyone Seems To Be Bullish … Here’s What Could Go Wrong”
7 days ago

Thank you Alpha. Thanks for your readership.

Breaking Radio Silence
4 months ago

Alpha, thanks for the encouragement and, yes, I will fight. Thank you for your readership. bk

Ugly, But True. And, As Usual, Late To The Party
10 months ago

Thanks for your readership Carl. I think Miller and Fearand Greed trader are two of the best out there for content and a well reasoned market opinion.

A Look Into The Belly Of The Bear
1 year ago

Thanks Boaz. I’m all set now, getting both notifications of new followers and comments. I appreciate your help.

A Look Into The Belly Of The Bear
1 year ago

Thanks Zev. I appreciate your readership. A more interesting idea, if you’re looking for diversification and income would be A closed and fund, the Tortiose Midstream Enrgy Fund (NTG). This is a diversified portfolio of master limited partnerships. Their largest holding is energy transfer and they are diversified. You don’t have to worry about a K-1 with this fund and it is yielding over 12%. This is an industry that has been through the ringer and rightfully so.But, it’s come out the other side with much better fundamentals and a retail shareholder base but totally abandoned it Christmas Eve 2018.

Thanks for checking in.


A Look Into The Belly Of The Bear
1 year ago

Alpha S., Thank you for your readership and your question. I try to keep kortsessions apolital because using political leanings and convictions to set an investment course is usually a bad idea. For example there were a lot of people after the 2008 election of Barack Obama who were basically saying that he had no clue as to how to address the economy and that we were heading for disaster. This was especially the chant on the right. Of course, they were wrong. The S &P 500 triple during the Obama administration. Likewise there were those who felt the Trump administration would be a disaster ( including yours truly). Fortunately, he did not take me too long to figure out the tax cuts and on bridled free-market economics where the focus of the market, i.e. Profits. The market was not focused on the presidents bona fides and character. It was all about making money.

On a short-term basis however the market does care about certain things the president says and does especially as it involves trade and the federal reserve. Ergo, these comments become fodder for this blog.

As to your question, my answer is may be no. My sense is that the current shut down is really putting the Republican Party in a very bad place. There is an answer to their problems, should they choose to take it, and that is to override the president’s Veto of the continuing resolution. In the meantime, as long as the Senate will not confront the president, it’s business as usual. Also, a lot of that which emanates from the White House pure bluster. The market’sReaction to the current shut down would seem to indicate that it is no longer paying attention.

Of course, the outcome of the Mueller investigation is a wildcard. We live in interesting times.


Trust Me, Inflation And Higher Interest Rates Are Good For Stocks…
1 year ago

Thank you for your comments. I agree with your comments about price discovery and the high debt levels we are facing. As we create more consumers around the world the depressive effects of globalization will become stimulative. Inflation then becomes very real concern. And the potential for significant market issues really comes into focus. My bet here is that it will take quite a bit of time for that to happen. Ergo,it is safe to be in the equity pool right now.


The Fed Minutes — Another ‘irrational Exuberance’ Moment
2 years ago

Moon, thank you for your comment. Generally speaking secular bull markets, such as the one we are currently in, always ended badly... maybe for the reasons you have stated or something out of left field. My point is simply that I believe we are not near that point at current writing.


Fed Balance Sheet Shrink: Big Problem Or Non-Event?
2 years ago

Wendle, this any better?

What one dollar invested in 1802 would have been worth in 2012:

(total real returns -- adjusted for inflation)

• $ 704,999.00 if invested in common stock

• $ 1,778.00 if invested in bonds

• $ 281.00 if invested in t-bills

• $ 4.52 if invested in gold

• $ 0.05 if left under the mattress


Fed Balance Sheet Shrink: Big Problem Or Non-Event?
2 years ago

Gary, I am not certain that I can agree with you on this. It looks to me like they are using every tool in there toolbox, extremely low interest-rate's, A tremendous amount of increase in their balance sheet and they are moving exceedingly slow when it comes to raising interest rates. Three quarters of a point off 0 to 25 basis points is a pittance. They need to get short-term rates up a little bit more so that in the event and economic shock they can move to lower them again. having lived through prosperous times with much higher rates, I can guarantee you the current moves by the Fed are not stifling growth. as it pertains to the Fed taking the economy down, it usually helps if there are big excesses in the economy. I just don't see that right now. Oh well, that's what makes horse races.

1 to 10 of 11 comments
1 2


AAPL Apple Inc.
ADRU BLDRS Europe 100 ADR Index Fund
AER AerCap Holdings N.V.
BWF Wells Fargo Capital XII
BXUB Barclays Bank PLC
BXUC Barclays Bank PLC
CRF Cornerstone Total Return Fund
DBEU Deutsche X-trackers MSCI Europe Hdgd Eq
DBEZ Deutsche X-trackers MSCI EMU Hedged Eq
DBO PowerShares DB Oil Fund
DBUK Deutsche X-trackers UK Hedged Equity ETF
DDM ProShares Ultra Dow30
DEZU iShares Adaptive Ccy Hdgd MSCI Euroz ETF
DIA SPDR Dow Jones Industrial Average
DNO United States Short Oil Fund LP
DOG ProShares Short Dow30
DTO DB Crude Oil Double Short ETN
DWTI VelocityShares 3x Inverse Crude Oil ETN
DXD ProShares UltraShort Dow30
DXPS WisdomTree UK Hedged ETF
EEA The European Equity Fund Inc.
EEH ELEMENTS Linked to the SPECTRUM Large CAP U.S. Sector Momentum Index
EPS WisdomTree Earnings 500 Fund
EPV UltraShort MSCI Europe ProShares
EQL ALPS Equal Sector Weight ETF
EURL Direxion Daily FTSE Europe Bull 3x Shares ETF
EWU iShares MSCI United Kingdom Index Fund
GOOG Alphabet Inc. (Google)
MSFT Microsoft Corporation
Load More



Latest Posts
Pre-Emptive Fed Strikes + Having It Both Ways
Just when you thought media/pundit commentary on the market and the economy couldn’t get anymore inane and stupid, they surprise you by plumbing a new depth.
Jeffery Gundlach - S&P Headed To New Lows
Commentary on the value of expert advice, especially that of Jeffrey Gundlach
A 'Bad Trip' Down Memory Lane
A look at the similarities and dissimilarities between the 1973-1974 market and the market we are experiencing today
Thanksgiving 2018–What I’m Thankful For
A short course on peace of mind when investing
An Amazing Prediction From 1796
George Washington saw USA 2018 coming over 200 years ago -- the evils of excessive partisanship.

Work Experience

Investor/Blogger/Speaker on The Media & The Market
December 2012 - Present (7 years 3 months)

I am retired but continue to manage my own money, blog and speak on the subject of stock market and the media reporting of business and economic matters.

Director Institutional Equity Sales
Well Fargo Securities
2007 - 2012 (5 years 1 month)

Sales -- Wells Fargo Institutional Equity Research and Trading services to Banks, Insurance Companies, Mutual Funds and Register Investment Advisors

Vice President Institutional Equity Sales
A.G. Edwards & Sons, Inc.
August 1990 - October 2007 (17 years 5 months)


University of Wisconsin-Madison
Bachelor of Business Administration (BBA)
1966 / 1968
Marketing, Business, Management, Marketing, and Related Support Services