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Iron Capital Quarterly Report

Second Quarter 2010

There has been a great deal of volatility in the market over the last quarter, and I believe much of it is driven by pure ignorance.

Fourth Quarter 2009

JOBS: There is a legend of an economist who travels to a developing country to help the native people build a dam...

Third Quarter 2009

One Year After the Meltdown of 2008

Second Quarter 2009

This is a time for active management. It is a time when it is critical to understand what we own, and what is happening to those businesses.

First Quarter 2009

Fear defined us in 2008, and just like the wise master counseled a long time ago in a galaxy far far away,
fear has led to anger.

Fourth Quarter 2008

Lehman Brothers is no more. AIG has become a ward of the state. There are no longer any big independent
Wall Street investment banks. The market has crashed. Madoff stole a record $50 billion. Etc.

Third Quarter 2008

Like Democracy, capitalism is not perfect, but it is the best system we have.

Second Quarter 2008

Who is to blame for $140 oil?

First Quarter 2008

Long-term out performance is what happens when you let the dog wag the tail.

Fourth Quarter 2007

“...the only thing we have to fear is fear itself...”

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