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General Market Comments

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

Price to Economic Book Value
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, Senior Investment Analyst, MBA
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, Senior Investment Analyst, MBA
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, Senior Investment Analyst, MBA
Danger Zone
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, Senior Investment Analyst, MBA
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, Senior Investment Analyst, MBA
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, Founder & CEO
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, Senior Investment Analyst, MBA
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, Senior Investment Analyst, MBA
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, Founder & CEO
Most Likely to Beat Earnings
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, Founder & CEO
Long Idea
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
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
Danger Zone
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
Danger Zone
May 20, 20192Comments

Market Outlook: Avoid Small Cap Growth

Investors need diligence more than ever to help them avoid stocks with misleading growth.
by Sam McBride
April 16, 20190Comments

Big Tech Still Dominates Economic Earnings Growth

GAAP earnings don’t just mislead investors about the amount of growth in 2018, they also present a misleading picture of the breadth of earnings growth.
by Sam McBride
January 31, 20190Comments

The Fed Is Still Irrelevant: Low Interest Rates Are the New Normal

We believe Jerome Powell's announcement that the Fed is not planning to raise rates in the immediate future validates the key points we made over two years ago.
by Sam McBride
December 13, 20180Comments

How Debt to Equity Can Mislead Investors

Millions of professional investors will soon see over $3 trillion in new debt added to corporate balance sheets, which will affect some stocks and sectors much more than others.
by Sam McBride
December 3, 20180Comments

The “Earnings Recovery” Remains an Accounting Mirage

U.S. equities may have rebounded from 2015 lows, but economic earnings – which reverse accounting distortions and account for the weighted average cost of capital – remain in a persistent downturn.
by Kyle Guske II, Senior Investment Analyst, MBA
Danger Zone
October 22, 20180Comments

Danger Zone: Investors Who Ignore Accounting Rule Changes

Investors that don’t pay attention to this accounting rule change are taking on unnecessary risk by mistaking an upcoming change as a fundamental change in these businesses.
by Sam McBride
Likely to Miss Earnings
August 22, 20180Comments

Worst Offenders: Pension Discount Rates

This report red flags the firms with the most underfunded pensions and the most aggressive discount rate assumptions for future benefit obligations.
by Sam McBride
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