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Building On 2025 To Be Even Better Next Year
This is Porter’s Daily Journal, a free e-letter from Porter & Co. that provides unfiltered insights on markets, the economy, and life to help readers become better investors. It includes weekday editions and two weekend editions… and is free to all subscribers.
Porter’s 20-year tradition continues… How we did in 2025… What we have planned for 2026… The Big Secret’s big accomplishments… What Complete Investor has to offer… Homebuilders slash prices… Private credit gets shaky… |
Editor’s note: Starting tomorrow, we will be changing up our normal publishing schedule… and kicking off our “12 Days Of Christmas” series.
Better than a long lead-up to 12 drummers drumming, Porter & Co.’s version of the “12 Days Of Christmas” brings you something actually useful: hard-earned investment lessons to guide you through 2026. For the remainder of the year, we will dish out key lessons from 2025… some earned from pain and others from gain.
We will be back with our regular mix of insights, analysis, and wit in the new year… on Monday, January 5.
Last week, we did something few businesses make part of their annual practice…
We looked back at how we did in our investment recommendations. And not in a way that highlights the winners and hides the losers. No. We took an unflinching look at the past 12 months and detailed, yes, our winners, but also where we fell short, and what we can learn from those ups and downs.
Porter has been handing out Report Cards to his analysts for more than 20 years. This December, he issued Report Cards for Porter & Co. – starting with our flagship publication, Complete Investor (formerly The Big Secret On Wall Street). Complete Investor received a B+ for the year… good, but could be better, Porter said.
Porter heaped more praise on Marty Fridson’s Distressed Investing and Erez Kalir’s Tech Frontiers, which we launched in January 2024 as Biotech Frontiers. Both earned an A+.
Of course, Porter looked at everything else we publish: The Trading Club: an A, the Partner-only advisory Asymmetry: B+, our Best Buys: A+, and Porter’s Permanent Portfolio: an A+.
Porter had this to say about the overall 2025 performance:
I’ve never produced better results in my entire career and absolutely not on a risk-to-reward basis. I’d argue that our relative performance this year is among the best ever by any research group or any money management group in the world. It has been a fantastic year for our members.
Yes, the team has been on an absolute tear lately, but, we must point out that it has been an incredible bull market, especially in biotech, especially in high-quality growth stocks, and even oddly in corporate credit.