March 15, 20170Comments

Fed Watching Can Be A Costly Distraction

Investors agonizing over the Fed should focus their efforts elsewhere. Instead of guessing where interest rates will go, read some of the thousands of annual 10-K reports that have come out in the past month.

by Sam McBride

February 28, 20170Comments

Filing Season Finds: Tuesday, February 28

Yesterday, our analysts parsed 125 filings and collected 17,650 data points. In total, they made 2,921 adjustments with a dollar value of $599 billion. In particular, analyst Allen L. Jackson found an unusual item yesterday in Allegheny Technologies (ATI) 10-K.

by Sam McBride

February 28, 20170Comments

Efforts to Kill The Fiduciary Rule Have Only Strengthened It

Interest in “fiduciary” is at an all time high despite efforts to kill the rule. Is all the push back on the rule having a “Streisand Effect”?

by Kyle Guske II, Senior Investment Analyst, MBA

February 23, 20170Comments

“Fiduciary Duty Can’t Be Killed” – WealthManagement Op/Ed

On Wednesday (2/22/17), WealthManagement.com featured our op/ed on why the fiduciary rule can’t be killed and how efforts to stop the rule may only make it stronger.

by Kyle Guske II, Senior Investment Analyst, MBA

February 22, 20170Comments

Filing Season Finds: Wednesday, February 22

Yesterday, our analysts parsed 56 filings and collected 7,941 data points. In total, they made 1,335 adjustments with a dollar value of $351 billion. In particular, analyst Hunter Gray found an unusual item in Phillips 66’s (PSX) 10-K.

by Sam McBride

February 21, 20170Comments

The Real Earnings Season Starts Now

Corporate earnings season may be winding down, but the real earnings season—annual 10-K filing season—starts today.

by Sam McBride

January 18, 20170Comments

Open Letter To The Department of Labor: What Does “Diligence” Mean For Fiduciaries?

Many people throughout the industry are still unclear as to how the fiduciary rule should be implemented. This uncertainty, at least In part, is behind many industry groups working hard to delay—or even scrap entirely—its implementation.

by Sam McBride

January 20, 20150Comments

David Trainer Explains Why Diligence Matters When Markets Turn

CEO David Trainer discusses why market volatility and the current economic trends make doing your due diligence more important than ever.

by David Trainer, Founder & CEO

April 9, 20140Comments

New Stocks Make Most Attractive/Dangerous Lists For April

Our Most Attractive and Most Dangerous stocks for April were made available to the public at midnight on Wednesday.

by David Trainer, Founder & CEO

March 3, 20140Comments

Some the First Video Testimonials

A few clients come forward to talk about what New Constructs' diligence has done for them.

by David Trainer, Founder & CEO

January 22, 20140Comments

Top Stock Picks: 2013 in Review

ll too often we find significant data hidden in the footnotes that changes the valuation model for a company. Our more complete models help investors identify the stocks that are significantly undervalued.

by David Trainer, Founder & CEO

January 22, 20140Comments

How We Protected Clients From Blowups in 2013

Our proprietary technology and patented systems allow us to find these red flags so that clients can avoid blowups or even get aggressive and short the stocks to make even more money.

by David Trainer, Founder & CEO

October 28, 20132Comments

Danger Zone 10/28/13: Consumer Discretionary Mutual Fund Managers and ETF Providers

Consumer Discretionary mutual fund managers and ETF providers are in the Danger Zone this week. They do the worst job of picking stocks out of all the sectors. The quality of the funds and ETFs in the Consumer Discretionary sector is the worst of all sectors compared to the quality of the stocks available to them.

by David Trainer, Founder & CEO

August 22, 20130Comments

Enterprise Value – Definition and Calculation

The theoretical value of Enterprise Value is the total takeover value of the firm. And if that is the case, then all claims on cash flows need to be included. We go the extra mile with our diligence to ensure all claims are captured in our Enterprise Value formula.

by David Trainer, Founder & CEO

August 21, 20134Comments

Deferred Compensation Assets and Liabilities – Valuation Adjustment

The net amount of deferred compensation is included in shareholder value. If a company has a net liability, future cash flows will be diverted to pay for that obligation. If a company has a net asset, then any future increases in the obligation will not need to be met with new contributions from the company. Instead, the company can return that cash to shareholders.

by David Trainer, Founder & CEO

August 7, 20130Comments

How To Protect Yourself From Wall Street Insiders

Recent revelations about the illegalities of information flows at expert networks and hedge funds like SAC Capital signal, I hope, a long overdue decline in amoral activities that Wall Street insiders have exploited for decades to score outsized riches while the average investor is often left holding the bag.

by David Trainer, Founder & CEO

August 5, 20130Comments

Overfunded Pension Plan Assets – Invested Capital Adjustment

Overfunded pension assets are similar to excess cash, and should not be included in the calculation of return on invested capital (ROIC).

by David Trainer, Founder & CEO

June 17, 20134Comments

Change in Total Reserves – NOPAT Adjustment

Reported earnings don’t tell the whole story of a company’s profits. They are based on accounting rules designed for debt investors, not equity investors, and are manipulated by companies to manage earnings. Only economic earnings provide a complete and unadulterated measure of profitability.

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

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

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