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May 25, 20180Comments

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.
by Sam McBride
May 24, 20180Comments

Focus List Stocks: Short – Update 5/24/18

We've removed the following two stocks from our Focus List – Short Model Portfolio.
by Kyle Guske II, Senior Investment Analyst, MBA
May 24, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 24, 20180Comments

Focus List Stocks: Long – Update 5/23/18

We've added one and removed one stock from our Focus List - Long Model Portfolio.
by Kyle Guske II, Senior Investment Analyst, MBA
May 24, 20180Comments

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).
by Kyle Guske II, Senior Investment Analyst, MBA
May 23, 20180Comments

This Pick and Shovel Stock is Still a Value

Accounting results understate the impressive profit growth of this market leader.
by Sam McBride
May 23, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 23, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 22, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 22, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 22, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 21, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 18, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
Invested Capital
May 18, 20183Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 17, 20180Comments

Position Close Update: National Research Corp (NRC)

While the firm’s fundamentals remain strong, its valuation no longer offers attractive risk/reward.
by Kyle Guske II, Senior Investment Analyst, MBA
May 17, 20182Comments

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).
by Kyle Guske II, Senior Investment Analyst, MBA
May 16, 20180Comments

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.
by Sam McBride
May 16, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 15, 20180Comments

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.
by Kyle Guske II, Senior Investment Analyst, MBA
May 15, 20180Comments

Position Close Update: Knoll Inc. (KNL)

A decline in fundamentals, along with a weakening competitive position (KNL no longer earns the highest ROIC among competitors) lead us to close this position.
by Kyle Guske II, Senior Investment Analyst, MBA
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