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Sam McBride

Sam McBride

Sam McBride, Investment Analyst at New Constructs.

April 16, 20190Comments

Big Tech Still Dominates Economic Earnings Growth

GAAP earnings don’t just mislead investors about the amount of growth in 2018, they also present a misleading picture of the breadth of earnings growth.
by Sam McBride
Danger Zone
April 15, 20190Comments

How EV/EBITDA Misleads Investors

EV/EBITDA has many flaws that can make it misleading, such as ignoring real costs and liabilities and not accounting for differences in business models.
by Sam McBride
April 12, 20190Comments

See Us on Yahoo Finance Digging Into Uber’s IPO

Investment Analyst Sam McBride joined Yahoo Finance’s YFi AM on Friday, April 12, to discuss the truth about Uber and its valuation.
by Sam McBride
April 3, 20190Comments

Activists Can Create Huge Value in This Retail Turnaround

We think activists can create huge value by bringing a better focus on capital allocation to this retailer.
by Sam McBride
Danger Zone
April 1, 20190Comments

No Real Earnings Growth in 2018 – Just Lower Taxes

The disconnect between real economic earnings and rising equity markets puts those who chase misleading earnings to danger.
by Sam McBride
March 27, 20190Comments

The Fundamentals Don’t Matter for This IPO

Despite all the red flags, the rise of passive investing forces too many institutions to unconditionally buy a big IPO like Lyft.
by Sam McBride
Danger Zone
March 25, 20191Comments

Management Doubles Down on a Failed Business Model

This company remains committed to a failed business model even in the face of slowing revenue growth and mounting losses.
by Sam McBride
March 19, 20190Comments

This 2018 IPO Is Starting to Look Like a Bargain

Last week, analysts parsed 232 10-K filings and collected 21,224 data points. In total, they made 4,371 accounting adjustments with a dollar value of $972 billion.
by Sam McBride
March 18, 20190Comments

Pre-IPO Coverage: Levi Strauss & Co (LEVI)

This report aims to help investors sort through Levi Strauss’ financial filings to understand the fundamentals and valuation of this IPO.
by Sam McBride
March 13, 20190Comments

Quality Corporate Governance Leads to Superior Business Model

Investing in companies with high quality corporate governance and cheap stocks can be a successful strategy.
by Sam McBride
March 13, 20190Comments

Is This Rock Bottom for Newell?

Last week, analysts parsed 421 10-K filings and collected 38,931 data points. In total, they made 7,881 accounting adjustments with a dollar value of $1.9 trillion.
by Sam McBride
March 12, 20190Comments

Steer Clear of Lyft’s IPO

Growing losses, low barriers to entry, poor corporate governance, and an unrealistically high valuation should diminish Lyft's IPO hype.
by Sam McBride
March 8, 20190Comments

Unreported Expenses Are Today’s Filing Season Find

From yesterday's research, our analysts parsed 72 10-K filings and collected 4,768 data points. In total, they made 1,165 forensic accounting adjustments with a dollar value of $552 billion.
by Sam McBride
March 7, 20194Comments

Loss of Licensed Content Is an Underrated Crisis for Netflix

As legacy media companies pull content, Netflix could lose much of its value to consumers just as the competition heats up.
by Sam McBride
March 7, 20190Comments

An Unusual Tax Benefit Is Today’s Filing Season Find

From yesterday's research, our analysts parsed 29 10-K filings and collected 2,178 data points. In total, they made 491 forensic accounting adjustments with a dollar value of $137 billion.
by Sam McBride
March 6, 20190Comments

A Misleading ROIC Calculation Is Today’s Filing Season Find

From yesterday's research, our analysts parsed 54 10-K filings and collected 5,120 data points. In total, they made 938 forensic accounting adjustments with a dollar value of $313 billion.
by Sam McBride
March 5, 20190Comments

Related Party Transactions Raise Red Flags In Today’s Filing Season Find

From yesterday's research, our analysts parsed 201 10-K filings and collected 22,154 data points. In total, they made 4,384 forensic accounting adjustments with a dollar value of $844 billion.
by Sam McBride
March 4, 20190Comments

Early Returns Look Bad for This Merger

Last week, analysts parsed 659 10-K filings and collected 72,984 data points. In total, they made 15,056 accounting adjustments with a dollar value of $6 trillion.
by Sam McBride
Danger Zone
March 4, 20190Comments

Danger Zone: Traditional Value Investors

Unfortunately, much of what passes for value investing today relies on accounting book value and other metrics whose utility has atrophied significantly over the years.
by Sam McBride
March 1, 20190Comments

Hidden Non-Operating Income Is Today’s Filing Season Find

From yesterday's research, our analysts parsed 175 10-K filings and collected 19,543 data points. In total, they made 4,041 forensic accounting adjustments with a dollar value of $1.4 trillion.
by Sam McBride
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