October 6, 20200Comments

Only One S&P 500 Sector Trades Below Its Economic Book Value

Analyzing market cap, economic book value, and price-to-economic book value ratio for the S&P 500 and each of its sectors.

by Kyle Guske II

September 28, 20200Comments

Two S&P 500 Sectors Have a Rising FCF Yield Through 1H20

This report analyzes free cash flow (FCF), enterprise value and the FCF yield for the S&P 500 and each of its sectors.

by Kyle Guske II

September 15, 20200Comments

No S&P 500 Sector Has a Rising ROIC Through First Half 2020

This report analyzes the drivers of economic earnings – ROIC, NOPAT margin, invested capital turns and weighted average cost of capital – for the S&P 500 and each of its sectors.

by Kyle Guske II

September 4, 20200Comments

Only One S&P 500 Sector’s Core Earnings Improved This Year

Analyzing the core earnings of each sector to narrow in on which was most impacted by the COVID-19-induced economic downturn.

by Kyle Guske II

September 3, 20200Comments

S&P 500 Peaks As Earnings Trough

With expectations already so high, any setbacks to the recovery will hit the large cap heavy weight stocks driving the S&P 500 hard.

by Kyle Guske II

August 20, 20200Comments

COVID-19 Drives Record Write-downs in 1H2020

Corporate managers appear to be using COVID-19 as a justification for writing down assets in unusually large amounts, aka the “kitchen sink” effect.

by David Trainer

July 14, 20200Comments

2nd Quarter Earnings Won’t Be as Bad as Wall Street Expects

We believe companies are in much better shape than many analysts think.

by Kyle Guske II

July 10, 20200Comments

Don’t Fret 2Q Earnings: This S&P 500 Will Continue to Rise

The precipitous fall expected in 2Q20 earnings significantly understates the true, core earnings of U.S. companies. There’s upside left in this market.

by Kyle Guske II

June 12, 20200Comments

The Market Is Right & Consensus Earnings Are Wrong

Now is the best time in many, many years for investors to pick individual stocks, especially those armed with differentiated insight into earnings.

by Kyle Guske II

May 11, 20200Comments

The Hidden Dangers of Passive Investing

We believe that passive investing has become a sufficiently crowded trade that indexers will see lower returns than fundamentally rigorous active investors over the next few years.

by Kyle Guske II

April 22, 20200Comments

Finding A Cure for COVID-19’s Disruption of Wall Street Data

Only artificial intelligence (AI) that rigorously analyzes thousands of financial filings can keep investors informed and help them navigate these disruptions.

by Kyle Guske II

April 14, 20200Comments

100% Operational Despite COVID Lockdowns

COVID-19 is not disrupting our data collection and research. Our Robo-Analyst is more effective than ever.

by David Trainer

April 9, 20200Comments

COVID-19 Sparks Dramatic Disruptions to Wall Street’s Data

Financial data collection supply chain disruption creates a sizeable risk for our data-driven stock market.

by Kyle Guske II

April 6, 20201Comments

COVID-19 May Spark Dramatic Disruptions to Wall Street’s Data

Without accurate and timely data collection from financial filings, millions of analysts and investors are unable to update their financial models and make informed investment decisions.

by Kyle Guske II

March 18, 20200Comments

Prepared & Here To Help – When It Matters Most

We have not experienced any disruptions thus far and do not anticipate any operational issues in the future.

by David Trainer

March 16, 20200Comments

Here for You – When It Matters Most

Despite all the disruptions, New Constructs is fully operational and here for you when you (and your portfolios) need us most.

by David Trainer

December 4, 20190Comments

Earnings Distortion Analysis Reveals Opportunity in Defensive Sectors

This sector has the least earnings distortion, earns an Attractive rating, and provides value for investors.

by Sam McBride

December 2, 20190Comments

Only One Sector Has A Rising ROIC

The core fundamentals of businesses are declining in nearly every sector. 10 out of 11 sectors have declining returns on invested capital.

by Sam McBride

November 20, 20191Comments

Consensus Earnings Are Wrong & How Much Is It Costing You?

Core earnings, when adjusted for unusual gains/losses hidden in footnotes, are a lot worse than investors and markets realize.

by Sam McBride

September 16, 20191Comments

The Unicorn Bubble Is Bursting

Public market investors seem to have awoken to the risks of buying into certain IPOs and realized they have the power to walk away.

by Sam McBride

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