Picking from the multitude of style mutual funds is a daunting task. In any given style there may be as many as 942 different mutual funds, and there are at least 6,095 mutual funds across all styles.
Picking from the multitude of sector mutual funds is a daunting task. In any given sector there are up to 222 different mutual funds. There are at least 618 mutual funds across all sectors.
Over a third of all Small Cap Value stocks earn a Neutral-or-better rating, but 98% of all funds in this style earn a Dangerous-or-worse rating. Fund managers are doing a poor job of allocating to good-quality stocks.
Picking from the multitude of style ETFs is a daunting task. In any given style there may be as many as 48 different ETFs, and there are at least 236 ETFs across all styles.
We closed this Long Idea on January 16, 2015. See the associated position close report here.
This year’s unusually cold winter has been a source of frustration for drivers, but
Picking from the multitude of sector ETFs is a daunting task. In any given sector there may be as many as 45 different ETFs, and there are at least 183 ETFs across all sectors.
Our Most Attractive stocks have high and rising return on invested capital (ROIC) and low price to economic book value ratios. Most Dangerous stocks have misleading earnings and long growth appreciation periods implied in their market valuations.
Compared to its competitors, CALD has less scale, inferior profitability metrics, and fishy accounting to boot. The stock’s valuation is so high that our DCF model can hardly make sense of it. The stock seems to be trading largely on the hopes of an acquisition.