29 Forbes articles in September. Nike. GameStop. Micron. McDonald’s. Meta. Wendy’s. Anthropic. Different companies. Same question: What changed beneath the headline—and what has the market still failed to price? My September Insights.

AI has made financial analysis abundant. Investment insight remains scarce. Anyone can summarize an S-1, identify risks and produce a valuation. That’s not an edge. The edge is recognizing what the market has misunderstood, who is forced to act, and what catalyst will close the gap between price and value. Information is increasingly free. Judgment isn’t. 🙄

My latest is a trending article at Forbes and also the Editors' Pick—take a read $JMKE forbes.com/sites/jimosman/20…

The Jersey Mike’s IPO is another reminder of what happens when Wall Street manufactures an investment opportunity. A great business doesn’t automatically make a great investment. The price you pay, who’s selling and why matter enormously. My latest Forbes analysis is trending. And the lessons go well beyond Jersey Mike’s. $JMKE forbes.com/sites/jimosman/20…

Buffett’s reputation had real financial value. Owners sold to Berkshire before auctions even started. Shareholders tolerated huge cash piles because they trusted his judgement. Price-to-book has slipped from ~1.62x to ~1.53x. On a ~$1.1T company, that’s meaningful.

A 5% Treasury yield doesn't cut anybody's earnings. The pain arrives when debt actually has to be refinanced. Oil at $100. 10-year near 5%. Fed hike imminent. S&P is still up 0.86%. Weird combination. A lot of corporate America is still living on financing put in place when money was cheaper. That debt doesn't reset on the same day. It rolls over gradually. We may be somewhere in that gap right now. #Investing #MacroEconomics #InterestRates

The market opens tomorrow. That doesn't mean you have to trade. A falling stock isn't necessarily cheap. A rising stock isn't necessarily expensive. Know what something is worth, what you could lose, and what will unlock its value. The market rewards patience far more often than impatience.

I warned about Jersey Mike’s before the IPO. The stock has since fallen over 30%. But here’s what investors are missing. Blackstone has pledged shares worth nearly FOUR TIMES the entire IPO against $1.09 billion in financing facilities. Great business. Wrong shareholders. Potentially more stock looking for a home. A falling price doesn’t remove a structural problem. My latest for Forbes, chart courtesy of @Barchart $JMKE forbes.com/sites/jimosman/20…

One of the most destructive human habits is choosing short-term comfort over long-term peace. People avoid difficult conversations because facing the truth is uncomfortable. But the problem doesn’t disappear. It grows. Resentment builds. Trust erodes. And the conversation they feared becomes even harder. Avoidance isn’t peace. It’s borrowing comfort today at the expense of tomorrow. And the interest compounds.

Every market cycle teaches the same lesson. It's not always the smartest investors who win. It's the ones who stay disciplined when emotions take over. Fear makes people sell too early. Greed makes them take unnecessary risks. The difference? Having a clear strategy and sticking to it when the market gets uncomfortable. Successful investing isn't about controlling the market. It's about controlling your decisions. 📖 Read Price Catalysts by Jim Osman on Amazon.

Buffett did everything that mattered: allocated capital, picked managers, and defined what Berkshire stood for. Now Greg Abel runs the businesses and decides where the money goes. Howard Buffett guards the culture. Sensible. But capital and culture overlap more than people think.

France opposed Tesla's FSD rollout in July. By September, it was testing the system on public roads. EU approval needs 15 of 27 member states representing 65% of the population. France is influential enough to be significant. Moving from opposition to testing doesn't mean Tesla won. It means the stance is no longer a flat rejection. #Investing #Tesla #FSD

Three Forbes articles warning about Jersey Mike’s stock. Three calls that have played out as the shares fell. Tomorrow, my fourth. The stock is near its lows, and I've uncovered a disclosure that could change how investors see what comes next. Follow me on Forbes. It's free. $JMKE forbes.com/sites/jimosman/

One of the great tragedies of American life is that millions will look at this photograph and have absolutely no idea what they’re missing. The British will understand. No explanation necessary.

My flagship piece for Forbes. Take a read.

Warren Buffett has stepped down as Berkshire chairman at 96, after more than five decades. The handover is calm and well planned. But one thing has changed that most people are missing: Buffett’s job has been split in two for the first time.

Tesla getting European regulators to say yes doesn't mean European drivers will pay €99 a month. Tesla trades at 300x trailing earnings. Even €600M of European FSD revenue is small beside that valuation. Permission to sell a product is not proof that people want to buy it. Watch eligible vehicles, new subscriptions, and retention, not the approval headline. #Investing #Tesla #Valuation

Anthropic could be a $1.5 TRILLION IPO. But who actually gets the money? $518 billion in infrastructure commitments. Amazon and Google getting paid along the way. Public shareholders with limited control. My latest feature for Forbes’ Investor Hub: forbes.com/sites/investor-hu…

Jersey Mike’s keeps bombarding me with offers on TV. Great sandwiches. Good business. Still not interested in the stock. A good business doesn't automatically make a good investment. The price you pay determines the return you make. And for me, the price is still wrong. I'll buy the sandwich. Not the stock. $JMKE

Wrong for years? That’s quite a track record you’ve invented for someone you’ve never met. 😂 I analyse risk, not predict the weather. But I appreciate you following my work so closely. Shame none of it seems to have sunk in.

If you like Ricky Gervais, you’ll love this …