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David Trainer, Founder & CEO

David Trainer, Found & CEO of New Constructs

August 6, 20135Comments

Buy Herbalife And Get A Piece Of the Good Life

Herbalife is a very profitable company with significant long-term competitive advantages that not only position the company to continue to create shareholder value but also to be very attractive as a potential acquisition target for large health insurers.

by David Trainer, Founder & CEO

August 5, 20130Comments

Overfunded Pension Plan Assets – Invested Capital Adjustment

Overfunded pension assets are similar to excess cash, and should not be included in the calculation of return on invested capital (ROIC).

by David Trainer, Founder & CEO

August 5, 20130Comments

Danger Zone 8/5/13: American Century Capital Small Cap Value Fund (ACSCX)

American Century Capital Portfolios, Inc: Small Cap Value Fund (ACSCX) is in the Danger Zone this week. ACSCX is bad news for investors from almost any angle. ACSCX has extremely high fees, low quality holdings, and a significant portion of its holdings are not consistent with its stated style exposure.

by David Trainer, Founder & CEO

August 5, 20130Comments

How to Avoid the Worst Sector Mutual Funds

Picking from the multitude of sector mutual funds is a daunting task. In any given sector there may be as many as 234 different mutual funds, and there are at least 632 mutual funds across all sectors.

by David Trainer, Founder & CEO

August 2, 201310Comments

Deferred Tax Assets and Liabilities – Invested Capital Adjustment

DTAs artificially raise reported assets and do not help generate operating profit while DTLs are like a source of interest-free financing. We remove the impact of DTAs and DTLs from our calculation of invested capital to ensure the more accurate measure of a firm’s return on invested capital (ROIC).

by David Trainer, Founder & CEO

August 2, 20130Comments

August’s Most DANGEROUS Stocks Available to Subscribers Today

Paying customers can access August's 40 Most Dangerous Stocks as of midnight last night. We provide 20 large/mid cap names to sell or short and 20 small cap names in this monthly newsletter.

by David Trainer, Founder & CEO

August 2, 20130Comments

August’s Most Attractive Stocks Available to Subscribers Today

Paying customers can access August’s 40 Most Attractive Stocks as of midnight last night. We provide 20 large/mid cap names and 20 small cap names to buy in this monthly newsletter.

by David Trainer, Founder & CEO

August 1, 20130Comments

How To Find the Best Sector Mutual Funds

There are at least 146 different Information Technology mutual funds and at least 632 mutual funds across all sectors. Do investors need that many choices? How different can the mutual funds be?

by David Trainer, Founder & CEO

August 1, 20132Comments

Deferred Compensation Assets – Invested Capital Adjustment

Deferred compensation plans delay employee compensation until a later date. The assets held for these plans are used to compensate employees in the future, not to generate profits for the company. As such, they should not be factored into the calculation of a company’s return on invested capital (ROIC).

by David Trainer, Founder & CEO

July 31, 20130Comments

Don’t Bet on Luck: Active Management Underperforms

Trying to pick the next manager to get hot is not investing. It’s gambling, and the odds are heavily stacked against you. There is no substitute for good due diligence.

by David Trainer, Founder & CEO

July 31, 20130Comments

How to Find the Best Style Mutual Funds

There are at least 6100 mutual funds across all styles. Do investors need that many choices? How different can these thousands of mutual funds be?

by David Trainer, Founder & CEO

July 31, 20130Comments

How to Find the Best Sector Mutual Funds

Finding the best mutual funds is an increasingly difficult task in a world with so many to choose from.

by David Trainer, Founder & CEO

July 29, 20130Comments

How to Avoid the Worst Style ETFs

Picking from the multitude of style ETFs is a daunting task. There are as many as 42 in any given style and at least 223 ETFs across all styles.

by David Trainer, Founder & CEO

July 26, 20130Comments

How to Find the Best Style ETFs

Finding the best ETFs is an increasingly difficult task in a world with so many to choose from.

by David Trainer, Founder & CEO

July 26, 20130Comments

How to Avoid the Worst Sector ETFs: July 2013

Fund holdings affect fund performance more than fees or past performance. Why are there so many ETFs? The answer is: because ETF providers are making lots of money selling them.

by David Trainer, Founder & CEO

July 25, 20130Comments

3Q Best & Worst ETFs & Mutual Funds – by Style – Recap

Each quarter, we provide the most comprehensive review of equity ETFs and mutual funds available. We review the Best & Worst ETFs and Mutual Funds by sector and style. This article provides quick access to all our 3Q reports on Style funds.

by David Trainer, Founder & CEO

July 25, 20130Comments

Cheap Funds Dupe Investors – 3Q13

Fund holdings affect fund performance more than fees or past performance. A cheap fund is not necessarily a good fund. A fund that has done well in the past is not likely to do well in the future. 3Q13

by David Trainer, Founder & CEO

July 24, 20130Comments

How To Find the Best Sector ETFs: July 2013

There are at least 27 different Information Technology ETFs and at least 173 ETFs across all sectors. Do investors need that many choices? How different can the ETFs be?

by David Trainer, Founder & CEO

July 23, 20131Comments

Best & Worst ETFs & Mutual Funds: Small Cap Value Style

The Small Cap Value style ranks twelfth out of the twelve fund styles as detailed in my Style Rankings for ETFs and Mutual Funds report. It gets my Dangerous rating, which is based on aggregation of ratings of 14 ETFs and 262 mutual funds in the Small Cap Value style as of July 19, 2013.

by David Trainer, Founder & CEO

July 23, 20130Comments

Best & Worst ETFs & Mutual Funds: Small Cap Blend Style

The Small Cap Blend style ranks eleventh out of the twelve fund styles as detailed in my Style Rankings for ETFs and Mutual Funds report. It gets my Dangerous rating, which is based on aggregation of ratings of 23 ETFs and 639 mutual funds in the Small Cap Blend style as of July 18, 2013.

by David Trainer, Founder & CEO

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