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New Constructs
August 24, 20100Comments

Stock Pick of the Week: Sell/Short FedEx Corp (FDX)

RED FLAG: The main driver of the difference between Economic and Accounting earnings is FDX's $11.9bn of off-balance sheet debt, a big number compared to $19.7bn in Net Assets and $25.6bn of market value.
by David Trainer, Founder & CEO
New Constructs
August 19, 20100Comments

Sandridge Energy (SD) – Free Report, for Ask Matt Readers, Highlighting a Major Red Flag in the Footnotes

Here is our free report on Sandridge Energy for Ask Matt readers. Our analysis of the Financial Footnotes reveals a major RED FLAG: the company has written off over $3.4bn in assets in just the last two years.
by David Trainer, Founder & CEO
New Constructs
August 17, 20101Comments

Stock Pick of the Week: Buy International Business Machines (IBM)

HIDDEN GEM: Our detailed valuation model shows that IBM grew its "economic" profits more than it accounting profits during its last fiscal year. Economic profits rose by $1.15bn while accounting profits rose by $1.09bn.
by David Trainer, Founder & CEO
New Constructs
August 11, 20100Comments

Wall Street Research Cannot Be Trusted – Proof Point

In case you needed proof beyond the Global Research Settlement that Wall Street research cannot be trusted, Morgan Stanley delivers by admitting "inadequately disclosing conflicts of interest on the part of its research analysts."
by David Trainer, Founder & CEO
August 5, 201018Comments

Economic Versus Accounting Earnings

Accounting data was not designed for equity investors, but for debt investors. "Earnings, earnings per share and earnings growth are misleading measures of corporate performance."(from page 66 in The Quest For Value by Bennett Stewart, Harper Collins 1991.)
by David Trainer, Founder & CEO
New Constructs
August 3, 20101Comments

Stock Pick of the Week: Sell/Short Yahoo (YHOO)

Overall, the Risk/Reward of investing in Yahoo's stock looks Very Dangerous to me. There is lots of downside risk given the Misleading Earnings and there is little upside reward given the already-rich expectations embedded in the stock price.
by David Trainer, Founder & CEO
July 31, 201012Comments

Top Ranking for Stock Picking for New Constructs

New Constructs stock-picking consistently ranks among the best of the nationally-recognized research firms.
by David Trainer, Founder & CEO
New Constructs
July 27, 20100Comments

Stock Pick of the Week: Buy Xilinx (XLNX)

HIDDEN GEM: Our detailed valuation model shows that XLNX grew its "economic" profits by nearly $14mm during its last fiscal year while it reported an $18mm decline in accounting profits.
by David Trainer, Founder & CEO
July 27, 20103Comments

Proof Is In Our Performance

There are many ways to define the quality and merit of equity research. One measure stands tallest: performance of stock recommendations. And by that measure, New Constructs' research is of very high quality (especially for the price!!).
by David Trainer, Founder & CEO
July 22, 20102Comments

New Constructs Receives Patent on Research System

The United States Patent and Trademark Office awarded us patent #7,752,090, titled: System and Method For Reversing Accounting Distortions and Calculating A True Value of a Business.
by David Trainer, Founder & CEO
New Constructs
July 20, 20100Comments

Stock Pick of the Week: Sell/Short Whole Foods Market (WFMI)

One of the Most Dangerous Stocks for July, Whole Foods has misleading earnings and a sky-high valuation, in our opinion. The same is true for all of our Most Dangerous Stocks.
by David Trainer, Founder & CEO
New Constructs
July 19, 20100Comments

Good Place to Track Hedge Fund Returns

Boomerang Capital Partners provides a great resource for tracking and benchmarking investment returns for hedge funds in general and the many different hedge fund strategies. Here is the link to the page where they offer a free report called the Periodic Table of Hedge Fund Returns.
by David Trainer, Founder & CEO
July 19, 20100Comments

TED Spread Says Financial System Is In Good Shape

The takeaway: the TED Spread indicates the financial system is relatively safe these days with no imminent danger. It has recently fallen from recent highs related to the debt issues in Europe and it is no where near where it was during the sub-prime crisis which led to the Lehman crisis when the TED Spread hit historic highs.
by David Trainer, Founder & CEO
July 19, 20105Comments

Stock-Picking Accolades

Over the years, New Constructs' stock picking prowess has garnered recognition from multiple independent sources.
by David Trainer, Founder & CEO
New Constructs
July 14, 20100Comments

Stock Pick of the week: Buy Myriad Genetics (MYGN)

A newcomer to our Most Attractive Stocks for July, this small cap stock has an excellent risk/reward profile, which earns it our highest Rating: Very Attractive.
by David Trainer, Founder & CEO
New Constructs
July 13, 20100Comments

No Double-Dip Recession In Sight, Just Slow(er) Growth

As highlighted in LPL Group excellent "Mid-Year Outlook for 2010", the economy is moving from 'recovery' mode to 'expansion' mode, which is very different from moving from 'recovery' back to 'recession' - a prediction made by many attention-seeking alarmists these days. We are still growing, just not as fast.
by David Trainer, Founder & CEO
July 7, 20101Comments

Charles Schwab Corp (SCHW) Neutral Risk/Reward Rating for Ask Matt Readers

Here is a free copy of our report on SCHW for Ask Matt readers. This report provides details behind Matt's analysis of SCHW in his recent article in USA Today:
by David Trainer, Founder & CEO
New Constructs
June 7, 20100Comments

Investing vs Speculating

The difference between Investing and Speculating is much larger than Wall Street would have you believe. In fact, they could not be too more different activities. Speculating is gambling. Investing is intelligent decision-making.
by David Trainer, Founder & CEO
New Constructs
June 4, 20100Comments

GM – How far will companies go to dupe investors?

In April, GM bragged about having paid back the balance of its $6.7 billion loan under the Troubled Asset Relief Program. In truth, the did nothing of the sort. They simply pirated taxpayer funds to cover their losses.
by David Trainer, Founder & CEO
New Constructs
June 4, 20100Comments

GAP is Stock Pick of the Week – Hidden Gem

Hidden Gem - GPS: economic earnings are rising faster than reported accounting earnings b/c the company lowered the capital employed to run the business. GAAP earnings do not capture increase capital efficiency of the business.
by David Trainer, Founder & CEO
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  • – Equinix (EQIX) – 3 reports

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