ICYMI: New Long Idea, Is the SEC Fulfilling Its Duties?, Model Portfolio Updates, New IPO Research & A Roll-Up Scheme Running Out of Cash
Here’s what happened at New Constructs this past week.
Open Letter to the SEC: Markets Need a Unified Fiduciary Standard
The SEC has the ability (or even responsibility) to resolve the ambiguity around the term fiduciary by offering a clear and concise definition.
Focus List Stocks: Short – Update 5/24/18
We’ve removed the following two stocks from our Focus List – Short Model Portfolio.
Position Close Update: Etsy Inc. (ETSY)
The valuation alone is not enough to justify keeping this position open given the large improvement in the firm’s fundamentals led by a new management team.
Focus List Stocks: Long – Update 5/23/18
We’ve added one and removed one stock from our Focus List – Long Model Portfolio.
Podcast: Why Installed Building Products is in the Danger Zone
CEO David Trainer sat down with Chuck Jaffe of Money Life to talk about our Danger Zone pick this past week: Installed Building Products (IBP).
This Pick and Shovel Stock is Still a Value
Accounting results understate the impressive profit growth of this market leader.
Pre-IPO Coverage: GreenSky Inc. (GSKY)
This report aims to help investors sort through GreenSky’s financial filings to understand the fundamentals and valuation of this IPO.
Safest Dividend Yields Model Portfolio: May 2018
Platinum Members and higher can access May’s Safest Dividend Yields Model Portfolio as of Wednesday, May 23.
Pre-IPO Coverage: EVO Payments, Inc. (EVOP)
This report aims to help investors sort through EVO Payments’ financial filings to understand the fundamentals and valuation of this IPO.
Featured Stocks in May’s Exec Comp & ROIC Model Portfolio
Three new stocks make May’s Exec Comp Aligned with ROIC Model Portfolio. Get a free look at one of the stocks in this month’s Model Portfolio.
Updated Performance Methodology of the Focus List Model Portfolios
Our time-weighted methodology failed to properly capture the impact of tickers removed from the Focus List. To correct this oversight, we’re updating the performance methodology of our Focus List Model Portfolios.
This Roll-Up Can’t Roll Forever
This firm is a classic “roll-up” that has been buying up smaller competitors for years to manufacture EPS growth. Its recent and largest acquisition to date is also the most harmful to shareholders.
ICYMI: New Long Idea, Focus List Updates, Model Portfolio Update & Modern Research Tools Webinar Replay
Here’s what happened at New Constructs this past week.
Average Invested Capital: Explanation and Examples
In our calculation of ROIC, we use a time-weighted average invested capital, to most accurately capture the capital available to a business that can be used to generate NOPAT over the course of a year.
Position Close Update: National Research Corp (NRC)
While the firm’s fundamentals remain strong, its valuation no longer offers attractive risk/reward.
Podcast: Why IQVIA Holdings is in the Danger Zone
CEO David Trainer sat down with Chuck Jaffe of Money Life to talk about our Danger Zone pick this past week: IQVIA Holdings (IQV).
This Footwear Stock is Back on Sale
It can be scary to buy a stock that’s just dropped 30%, but if the long-term trend in fundamentals remains intact, an unwarranted drop in valuation can lead to a great buying opportunity.
Exec Comp Aligned with ROIC Model Portfolio: May 2018
Platinum Members and higher can access May’s Executive Compensation Aligned With ROIC Model Portfolio as of Wednesday, May 16.
Position Close Update: Dentsply Sirona (XRAY)
While XRAY’s fundamentals remain weak, the growth expectations implied by its valuation have become less unrealistic after the large price decline.