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General Market Comments

Insights on the forces that shape our capital markets and the future of our country.

Overstated Earnings
April 4, 20220Comments

Street Earnings Overstated for Most S&P 500 Companies in 2021

Five S&P 500 companies with overstated Street Earnings and a Very Unattractive Stock Rating in 2021.
by Kyle Guske II, Senior Investment Analyst, MBA
Performance Update
March 8, 20220Comments

Focus List Stocks: Long: Beat the S&P 500 by 35% in 2021

Our Focus List Stocks: Long Model Portfolio outperformed the S&P 500 by 35% in 2021.
by Kyle Guske II, Senior Investment Analyst, MBA
Performance Update
March 8, 20220Comments

Focus List Stocks: Short: Beat the S&P 500 by 36% in 2021

Our Focus List Stocks: Short Model Portfolio outperformed the S&P 500 by 36% in 2021.
by Kyle Guske II, Senior Investment Analyst, MBA
February 15, 20220Comments

To Capitalize Expenses or Not? It Doesn’t Matter.

Buyer beware, capitalizing expenses is, largely, a fool’s errand that has no effect on free cash flow.
by Kyle Guske II, Senior Investment Analyst, MBA
December 14, 20210Comments

Write-Downs Continue at Record Low Pace Through First Nine Months of 2021

Write-downs for S&P 500 companies through the first nine months of 2021 remain on pace for the lowest levels seen in 15 years
by Kyle Guske II, Senior Investment Analyst, MBA
Understated Earnings
December 10, 20210Comments

S&P 500 Companies That Understated EPS by up to 73% in 3Q21

Five S&P 500 companies with understated Street Earnings and a Very Attractive Stock Rating.
by Kyle Guske II, Senior Investment Analyst, MBA
Overstated Earnings
December 10, 20210Comments

S&P 500 Companies That Overstated EPS by Over 75% in 3Q21

Five S&P 500 companies with overstated Street Earnings and a Very Unattractive Stock Rating.
by Kyle Guske II, Senior Investment Analyst, MBA
October 26, 20210Comments

Digital World Acquisition Is the Culmination of All Meme-Stocks

The bottom line is that owning DWAC at anything close to its current price is not investing, it is gambling.
by Kyle Guske II, Senior Investment Analyst, MBA
Sector & Industry Fundamentals
October 12, 20210Comments

Write-Downs Near 15-Year Lows Post 2020 “Kitchen Sink”

After taking large write-downs in 2020, S&P 500 companies are on pace to record the lowest amount of write-downs in 15 years.
by Matt Shuler, Investment Analyst II
Overstated Earnings
September 20, 20210Comments

S&P 500 Companies That Overstated EPS by 60%+ in 2Q21

See five S&P 500 companies with overstated Street Earnings and a Very Unattractive Stock Rating.
by Kyle Guske II, Senior Investment Analyst, MBA
Understated Earnings
September 15, 20210Comments

S&P 500 Companies That Understated EPS By ~70% Post 2Q21

This report shows why Street Earnings (and GAAP earnings) are flawed & five S&P 500 companies with understated Street Earnings and an Attractive-or-better Stock Rating.
by Kyle Guske II, Senior Investment Analyst, MBA
September 13, 20210Comments

Novel Alpha from Truth Stocks & Earnings Distortion: AltHub

To enable managers to easily monetize our new factor, we worked with AltHub to develop three initial strategies.
by David Trainer, Founder & CEO
September 13, 20210Comments

Novel Alpha from Earnings Distortion: CloudQuant

To enable managers to easily monetize our new factor, we worked with CloudQuant to develop two initial strategies.
by David Trainer, Founder & CEO
August 20, 20210Comments

Earnings Distortion: The New Value Factor

To enable managers to easily monetize our new factor, we present a long/short market-neutral strategy that generates impressive performance.
by David Trainer, Founder & CEO
July 16, 20210Comments

Unscrubbed Data Creates Misleading Credit Ratings

Highlighting the five ratios that drive our Credit Ratings and how our data drives materially different results compared to ratios and ratings based on unscrubbed data.
by Matt Shuler, Investment Analyst II
July 14, 20210Comments

Cash to Debt Ratio: Unscrubbed Data Creates Misleading Credit Ratings

This report explains how our “Adjusted” Cash to Debt ratio is better than the “Traditional” ratio because the Traditional ratio is based on unscrubbed financial data.
by Matt Shuler, Investment Analyst II
New Constructs Data
July 14, 20210Comments

Interest Coverage Ratio: Unscrubbed Data Creates Misleading Credit Ratings

This report explains how our “Adjusted” Interest Coverage ratio is better than the “Traditional” ratio because the Traditional ratio is based on unscrubbed financial data.
by Matt Shuler, Investment Analyst II
June 30, 20210Comments

Debt to Capital: Unscrubbed Data Creates Misleading Credit Ratings

This report explains how our “Adjusted” Debt to Capital ratio is better than the “Traditional” ratio because the Traditional ratio is based on unscrubbed financial data.
by Matt Shuler, Investment Analyst II
June 24, 20210Comments

EBITDA to Debt: Unscrubbed Data Creates Misleading Credit Ratings

This report explains how our “Adjusted” EBITDA to Debt ratio is better than the “Traditional” ratio because the Traditional ratio is based on unscrubbed financial data.
by Matt Shuler, Investment Analyst II
June 21, 20210Comments

FCF to Debt: Unscrubbed Data Creates Misleading Credit Ratings

This report compares our “Adjusted” Free Cash Flow (FCF) to Debt ratio to the “Traditional” ratio based on unscrubbed financial data.
by Matt Shuler, Investment Analyst II
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