Buy when others are fearful is my number one rule. I love it because it actionable.

I thought it was only financial commentators who loved using the B word. But it seems the boys at UBS just can’t resist playing the bubble card. ‘Welcome to the great bank bubble of 2013′ says UBS analyst Jonathan Mott.

Is yield the new holy grail of banking analysis? Is it really different this time? Do banking analysts need to embrace a new paradigm? The four major Australian banks appear richly valued, but remain far from bubble territory.

Embracing change in life and in your investment portfolio results in both better decisions, a happier life and improved returns.

20 years ago a similar story played out with Apple computers. Steve Jobs left, margins declined, a promising lead was swamped by the pack.

Without the Tees I wonder how many of you would have guessed Telstra Corporation (ASX: TLS). The common thought is that T2 buyers remain deep underwater.

If you drill, oil will flow.

With proven oil reserves priced around a quarter of the local industry average Maverick Drilling and Exploration (ASX: MAD) is one damn cheap oil company. Maverick looks even better when you throw in experienced shareholder-aligned management, large acreage, increasing production, likely reserves upgrade and high-impact drilling success.

The Australian share market is up 61 percent since the March 2009 low. While that sounds impressive, that gain is only a smidgen above the long term annual return of the Australia market.

Apple stock is now cheap, but it is not back up the truck cheap.

Is Telstra worth $2.90 or $4.90? How can two guys using the same valuation technique arrive at such divergent views. Is Skaffold or Clime right? Montgomery or Abernethy?