Market Outlook: United States: Best of Breed in 2015

Untitled

What a year for the market in 2014! It was so good that it seems there is general consensus that 2015 cannot be very good. No longer does the market wonder “if” the Federal Reserve will raise rate.

Continue Reading →

Who Wins and Who Loses in Staples’ Acquisition of Office Depot?

14347779104_248235a7c1_z

Does this acquisition make sense for Staples?

Continue Reading →

Should Value Investors Look Forward to a Correction?

9681616230_f266ed1ef2_o

It seems the noise surrounding a potential correction in the market is growing louder as each day passes. With the S&P 500, NASDAQ, and Dow Jones all reaching new highs almost daily, one has to wonder when (or if) a large downturn will occur. A correction often brings stock prices back to reality, creating the perfect entry point for you to buy excellent companies at reasonable prices.

Continue Reading →

Stock Market Outlook: Any Claus for Concern?

315155779_95cfad5b27_b

What’s in store for the rest of the year?

Continue Reading →

Barron’s Says New Constructs Provides The Best Accounting Analysis

Barrons logo

Barron’s featured New Constructs for the eighth time this past weekend.

Continue Reading →

Danger Zone: Price to Earnings Ratios

3508252914_73e09af9d3_z

The vast majority of evidence suggests that P/E ratios are an unreliable way to measure the true value of stocks.

Continue Reading →

Silver Unmoved by Geopolitical Crisis

10304285224_bbf22fc188_m

Gold prices are still on the rise as tensions in Ukraine and Iraq show no signs of slowing down. However, the precious white metal isn’t showing the same trend as gold’s prices.

Continue Reading →

How are These 19th Century Companies Doing Today?

5416212814_0f9862728e_m

Trading stocks sometimes feels like a very modern phenomenon, so it’s easy to forget that some of the companies we’re investing in go back a century or more.

Continue Reading →

Cutting Through Valeant’s Story

stockvault-chemistry138427

Valeant has been guilty of some dubious assertions in its attempts to defend itself from claims that its business model is nothing more than a rollup scheme and that its stock is overvalued.

Continue Reading →

11 Barron’s Features In Last 12 Months: Our Unique Diligence & Stocks Calls

Barrons logo

See recent articles from Barron’s that feature our diligence on individual stocks.

Continue Reading →

Carl Icahn May Be Fighting A Losing Battle With Family Dollar

12294184853_eb4c008c96_m

Icahn might be able to engineer a sale to DG or someone else that will earn himself and other shareholders a quick profit, but unlocking long-term value will be a much more difficult task.

Continue Reading →

The Bidding War For Hillshire Is Bad For Investors

imgres

Incentive plans that encourage executives to chase short-term growth at the expense of healthy capital allocation make this sort of irrational behavior not just possible, but inevitable.

Continue Reading →

How To Avoid Wall Street Groupthink

Wall_Street_&_Broadway

Doing your own fundamental analysis can be hard work, but it is worth it. Listening to the buzz on Wall Street only tells you what has outperformed, doing your own research can tell you what will outperform.

Continue Reading →

Winners and Losers In AT&T’s Acquisition of DirecTV

7123134725_63ce10be31_m

After a few weeks of rumors, on Sunday AT&T (T) confirmed its $95/share offer for DirecTV (DTV). The deal will be part stock and part cash, and is expected to close within 12 months if the deal meets regulatory approval.

Continue Reading →

New Constructs Initiates Facebook (FB) Coverage At Neutral

imgres

Last week, Facebook (FB) filed its second annual report as a publicly traded company, which allows us to initiate coverage. The company’s strong return on invested capital (ROIC) and profit growth offset the stock’s expensive valuation (~$70/share) to earn our Neutral rating.

Continue Reading →

Our Outlook For Stocks in 2014

7536509722_78205b5e70

The bull market received a bit of a scare last week as the S&P 500 fell almost 3%, the biggest single week loss since 2012. The market seems to have recovered this week, but a repeat of the 26% gain in 2013 doesn’t appear to be in the cards. Long-Term Bullish Last May I wrote…

Continue Reading →

Morningstar’s Ratings Are Not The Final Word

Screen shot 2014-01-29 at 11.21.50 AM

Morningstar’s research can be helpful, but we believe our in-depth analysis of ETF and mutual fund holdings gives our ratings a superior predictive value, and results back up our claim.

Continue Reading →

New Constructs Integrates with FA today, Bringing Diligence to 200,000+ Advisors

Together with FA today we can help more investors protect their portfolios from blow-ups and get the diligence they need to fulfill fiduciary responsibilities and run their practices more efficiently.

Continue Reading →

“Why Wall Street Hates Admitting Wrongdoing”

Donde_el_dinero_ficticio_se_hace_real_(4432386300)

Any admission of guilt exposes the guilty party to liabilities for offenses against other parties.

Continue Reading →

My Presentation For Vanderbilt’s Managerial Studies Visiting Executive Program

7373565208_b090bb109a_k

Today, I had the pleasure of meeting with a very smart and attentive group of Vanderbilt undergrads as part of the Managerial Studies Visiting Executive Program.

Continue Reading →

Page 1 of 5