Danger Zone 6/10/13: “Passive” Investors
Passive investors are in the Danger Zone for not recognizing that they are actually active investors.
David Trainer, Founder & CEO
David Trainer, Founder & CEO
More Upside From Western Digital (WDC)
WDC is more profitable than ever and remains significantly undervalued. The no-growth value of this business is over $100/share.
David Trainer, Founder & CEO
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 229 different mutual funds, and there are at least 631 mutual funds across all sectors.
David Trainer, Founder & CEO
Asset Write-Downs Hidden In Operating Earnings – NOPAT Adjustment
Asset write-downs are unusual charges that don’t appear on the income statement because they are bundled in other line items. Without careful footnotes research, investors would never know that these non-recurring items distort operating earnings by overstating core-operating costs.
David Trainer, Founder & CEO
Footnotes Adjustments for Earnings & Valuation Diligence
This report summarizes our series of reports on how to convert GAAP data to economic earnings and derive true shareholder value in a discounted cash flow model as well as more accurate measures of economic
David Trainer, Founder & CEO
June’s Most DANGEROUS Stocks Available to Subscribers Today
Paying customers can access June’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.
David Trainer, Founder & CEO
June’s Most Attractive Stocks Available to Subscribers Today
Paying customers can access June’s 40 Most Attractive Stocks as of midnight last night.
David Trainer, Founder & CEO
Wal-Mart: Still Offering Great Value
Wal-Mart’s stock has done well since we first opened a position in June 2011, but it is still significantly undervalued.
David Trainer, Founder & CEO
Danger Zone 6/3/2013: Perma-Bears and Bubble Alarmists
I am optimistic about the U.S. economy and I don’t believe we are in bubble. Too many investors and economists are looking at the economy the wrong way.
David Trainer, Founder & CEO
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.
David Trainer, Founder & CEO
“Index” Label Myths
The word “index” in an ETF label does not always mean that investors are getting the specific exposure they seek. Diligence on ETF holdings is necessary despite what the providers might have you believe. Below I dispel the following myths concerning index ETFs.
David Trainer, Founder & CEO
Interview With Former FASB Chairman Robert Herz
As the Chairman of the Financial Accounting Standards Board, or FASB, from 2002 to 2010, Robert Herz has had a much larger influence on financial markets than the average investor appreciates.
David Trainer, Founder & CEO
How To Avoid the Worst Style ETFs: May 2013
Picking from the multitude of style ETFs is a daunting task. There are as many as 40 in any given style and at least 221 ETFs across all styles.
David Trainer, Founder & CEO
How To Find the Best Style ETFs: May 2013
Finding the best ETFs is an increasingly difficult task in a world with so many to choose from. May 2013.
David Trainer, Founder & CEO
The Truth Behind AAPL’s Numbers
This article provides some empirical evidence behind my putting Apple (AAPL) in the Danger Zone last week because its return on invested capital (ROIC) is outrageously high. That fact underscores why valuing this company or any other with the expectation that such a high ROIC was sustainable would be a mistake.
David Trainer, Founder & CEO
How To Avoid the Worst Sector ETFs: May 2013
Picking from the multitude of sector ETFs is a daunting task. In any given sector there may be as many as 43 different ETFs, and there are at least 171 ETFs across all sectors.
David Trainer, Founder & CEO
Why I’m Bullish And We Are Not In a Bubble
I believe the US economy is undergoing a restructuring where we, as a society, are becoming radically more productive. I think that we are entering a new economic paradigm of productivity in both our corporate and labor markets. In this new paradigm, we achieve enough gains in productivity to offset the inflationary forces of QE.
David Trainer, Founder & CEO
Danger Zone 5/20/2013: Amazon.com (AMZN)
The belief that Internet retail is or will be more profitable than traditional retail is untrue. Amazon is in a competitive, low margin business that cannot justify the profit growth implied in its valuation.
David Trainer, Founder & CEO
How To Find the Best Sector ETFs: May 2013
Finding the best ETFs is an increasingly difficult task as there are more and more to choose from every day.
David Trainer, Founder & CEO
Cheap Funds Dupe Investors – 2Q13
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. Yet, traditional fund research focuses only on low fees and past performance.
David Trainer, Founder & CEO