3 thoughts on “Horizon Kinetics Deep Dive”

  1. This review by HK provides the very best rationale for owning TPL. It points out that a short term price target isn’t the right vehicle for,assessing value, rather the intrinsic value of the assets, especially in TPL’s case.
    I regret having sold enough of my position to pay for the rest of I have before this article really clarified the future of TPL’s underlying assets and opportunities going forward. I balance that by nearing 80 years of age which influences some of my decisions, but it’s ALL profit going forward.

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  2. The shares are all in my SEP/IRA, so I’m not worried about taxes when it’s time to sell (if in my lifetime). No capital gains to fret over.

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  3. I’m a little skeptical of their strategy of never rebalancing and letting winners take up a large percentage of your portfolio.

    That would have worked terribly with GE or IBM if you had let them become a huge amount of your portfolio right before they lost their dominant status.

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