Pascal Le Segretain Introduction As a dividend investor I’m constantly on the hunt for dividend stocks trading at attractive valuations like many are now due to the rise in interest rates. I also like to look into well-known companies that don’t pay dividends to see if a potential one could be in its future. I’ve…
Frank Peters Introduction FTAI Aviation (FTAI) is the result of a spin-off between it and FTAI Infrastructure (FIP) which occurred in August 2022. Post spin it is a Cayman Islands exempted company which will no longer be subject to Schedule K-1 reporting. Shareholders who held shares in 2022 prior to the spin however should have…
Shunyu Fan I can understand why investors are still not bullish on bank stocks, given what’s going on with the yield curve, the economy, and regulation. I can likewise understand skepticism around names like Citigroup (C) where there’s built-up resentment and doubt that the bank will ever turn around. What I don’t get, though, is…
Money raining down on a young person. Khosrork Anybody who is even remotely acquainted with financial markets knows that in the short run, they are often wildly wrong about individual stocks. Sometimes, a stock is massively overvalued. Other times, a stock is dirt cheap. The Chairman and CEO of Berkshire Hathaway (BRK.A)(BRK.B) and the world’s…
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Lari Bat Real estate (XLRE) continues to be one of the worst-performing sectors, -10.86% YTD, amid historically high rates, tight supplies, and consumers’ reluctance to purchase after locking in historically low rates during the pandemic. S&P 500 Sectors Performance (Yardeni Research, S&P) Mortgage rates are well above 7%, dampening sales, which is why Firstam deputy…
danilovi/E+ via Getty Images By Brian Levitt, Global Market Strategist History is comprised of challenging times. As a global market strategist, it’s my job to talk about these historic events in the context of the markets and to offer some perspective for investors. Unfortunately, it’s time to do so once again. Markets, over more than…
xxwp/iStock via Getty Images The following segment was excerpted from this fund letter. Tecnoglass Inc (NYSE:TGLS) Tecnoglass is a vertically integrated manufacturer, supplier, and installer of architectural glass, framing systems, windows, and doors. The company’s automated manufacturing base in Colombia allows it to manufacture products at a much lower cost than domestic companies. Shipping expenses…
Araya Doheny Asana (NYSE:ASAN) checks a lot of the boxes in a typical investment I look for in the tech sector nowadays. The company has posted resilient top-line growth rates while delivering robust operating margin expansion, all in spite of a tough macro environment. The company has a net cash position to help it weather…
kitzcorner/iStock via Getty Images Sea Limited (NYSE:SE) is one of the leading tech conglomerates in Southeast Asia, which operates its digital entertainment, e-commerce, and digital financial service businesses. The company continues to be an important player in transforming the global retail market, serving the diverse needs of tens of millions of customers. Sea’s Shopee is…
BalkansCat Investment thesis I initiate my coverage of The Estée Lauder Companies Inc. (NYSE:EL) with a Sell rating following my in-depth research of the company and the underlying beauty and cosmetics industry. Estee Lauder, a renowned leader in the cosmetics industry, boasts a market cap of $50 billion and a rich history of providing high-end…
Juanmonino/iStock Unreleased via Getty Images Dear Investor, As we round the corner and head into the fourth quarter of 2023, there are numerous economic factors flashing signs that could make the last quarter exciting and profitable for Old West clients. As you can see fromyour enclosed statement, our portfolios performed in line with or slightly…
sanjeri/E+ via Getty Images Investment Thesis In today’s article, I will explain the reasons for having added Johnson & Johnson (NYSE:JNJ) and Main Street Capital (NYSE:MAIN) to The Dividend Income Accelerator Portfolio. Both companies pay an attractive Dividend Yield (while Johnson & Johnson’s Dividend Yield [FWD] is 3.02%, Main Street Capital’s is 6.98%), and have…
Joe Raedle Investment thesis Our current investment thesis is: SWK is a high-quality business, with a strong portfolio of brands, a reputation for quality and durability, a diversified revenue profile, and a strong capital allocation strategy that involves supporting organic growth with M&A. The business has faced significant headwinds in recent quarters, contributing to a…
PM Images/DigitalVision via Getty Images We previously covered ASML Holding N.V. (NASDAQ:ASML) (OTCPK:ASMLF) in July 2023, discussing the sluggish stock movement after the previous FQ2’23 double beat and raised FY2023 outlook. We had rated the stock as a Buy then, with the stock’s depressed levels offering opportunistic growth/ income investors with the chance to dollar…
redtea/iStock via Getty Images Introduction Great-West Lifeco Inc. (TSX:GWO:CA) (OTCPK:GWLIF) is one of Canada’s largest financial services companies. It has a strong focus on health insurance, life insurance, and an increasing focus on retirement and investment services. The company should be seen as a crossover between an insurance company and an asset manager as it…
bin kontan Dear subscribers, Generally speaking, when something yields 10%+, you’re well-served to stay away from it, or at the very least be very aware of what you’re getting into if you put money to work in such an investment. Highwoods Properties (NYSE:HIW), which currently yields almost 10.2%, is no different from any other company…
khyim Performance Review NAVincrease, net CumIncept Ann Inception PF 2019 2020 2021 2022 YTD 2023 WBCP 73.05% 14.07% 17.60% 19.05% 37.16% (15.38%) 6.49% S&P 400 35.91% 8.53% 5.72% 13.66% 24.76% (13.06%) 4.28% S&P 500 54.04% 12.21% 9.36% 18.40% 28.72% (18.10%) 12.85% Click to enlarge The administrator provides performance figures. Prior years are audited. 2023 is…
carloscastilla/iStock via Getty Images Dear Partner Liberty Park Fund, LP’s value decreased 2.29%, net of fees, in the second quarter of 2023 vs. a 5.10% decline in the Russell 2000. The 6.70% decrease in our long positions detracted 6.22% on a weight-adjusted basis, while the 7.27% decrease in our shorts contributed 3.67% on a weight-adjusted…
G0d4ather After a strong start to the year, global equity markets gave up some ground in the September quarter. Fortunately, the speculative appetite we saw from investors in the first two quarters started to lose some steam. Value benchmarks began clawing back some relative performance, which was encouraging. Stock valuations are stretched and continue to…
lcva2 Investment Thesis Microsoft (NASDAQ:MSFT) is one of the best businesses out there. The company is well-diversified, has excellent management, and strong financials. Unlike most software companies, MSFT’s diversified product set aims at enterprise efficiency, collaboration, cloud transformation, and business intelligence. A big portion of revenue is recurring and underpinned by a large and loyal…
gorodenkoff Merion Road Small Cap Fund IWM (Russell 2000) Barclay Hedge Fund Index MRCM Long Only Large Cap SPY (S&P 500) Annualized Since Inception 15.5% 7.5% 4.9% Annualized Since Inception 10.6% 10.1% Q3 2023 (3.1%) (5.2%) (0.4%) Q3 2023 (2.6%) (3.2%) 2023 YTD 0.3% 2.5% 3.9% 2023 YTD 25.9% 13.0% 2022 (16.9%) (20.4%) (8.5%) 2022…
constantinopris/iStock via Getty Images Purpose I look at the high frequency weekly indicators because while they can be very noisy, they provide a good nowcast of the economy, and will telegraph the maintenance or change in the economy well before monthly or quarterly data is available. They are also an excellent way to “mark your…
This article was written by Tom Roseen is the Head of Research Services, joining from Janus in 1996. He is the editor and an author of Lipper’s U.S. Research Studies, FundFlows Insight Reports and FundIndustry Insight Reports. He is involved in fund analysis and research, and contributes to the monthly and quarterly equity and fixed…
champc Listen below or on the go on Apple Podcasts and Spotify Catalyst watch for the week of October 22. Seeking Alpha Senior Executive Editor Kim Khan on the release of Q3 GDP. (00:21) He also discusses Netflix (NFLX) earnings and the double digit increase following the sub growth and price hike announcement. (01:34) In…
Sean Gallup Investment Thesis While PayPal’s (NASDAQ:PYPL) stock has recently hit a six-year low at $53.94 per share, the anticipation of a remarkable threefold increase in the projected EPS to $4.95 for the coming year paints a compelling growth story. Despite this growth potential, the stock price hasn’t seen a corresponding uptick, raising questions about…
Andres Victorero Emerging market central banks responded quicker to inflation and remain in better shape financially than developed markets, and EM bonds may add resilience to a bond portfolio in the current market. The past several years have been characterized by rising rates and emerging risks in global bond markets, after nearly a decade and…
Relai, a European non-custodial Bitcoin wallet with broker services incorporated in the app, is announcing their integration of Lightning functionality today at the Plan B conference in Lugano. Lightning support will initially roll out as a closed invite-only beta program, slowly rolling out to full public access before the end of the year Q4 2023….
Torsten Asmus A Barbell Maturity Structure Can Capture High Front- and Back-End Yields Historical and current analyses do not guarantee future results. For illustrative purposes only. *Hypothetical portfolio based on Bloomberg Municipal Indices. Barbell is 40% weighted in one- and three-year indices and 60% in 15- and 20-year indices. Concentrated holds 100% in the 10-Year…
thitivong The market has been kind to shipping company ZIM Integrated Shipping Services Ltd. (NYSE:ZIM) this year as its stock price has plunged from a 52 week high of $29.38 all the way down to $9.17 as of yesterday’s close. The shipping company lowered its expectations for 2023 adjusted EBITDA in the second quarter, implying…
Rawpixel Back in February, I place a “Buy” rating on CarGurus (NASDAQ:CARG), arguing that its results were being muddied by issues at CarOffer, but that its core business remained strong. The stock is up over 4% since then, trailing the 6% return from the S&P 500. Let’s catch up on the name. Company Profile As…
tioloco/E+ via Getty Images At a Glance Building on my previous analysis of AVITA Medical (NASDAQ:RCEL), this quarter’s financials offer updated insights. While the company maintains its clinical promise and financial resilience, new variables have entered the equation. The FDA’s recent request for additional data on the Recell Go device notably adds a layer of…
metamorworks After rapid economic growth of 7.2% in the 2022-23 fiscal year, economic momentum has remained strong, with industrial production rising by 10.3% year-over-year (y/y) in August 2023 and GDP growth of 7.8% y/y in the April-June quarter of 2023. The S&P Global India Services PMI Business Activity Index for September signalled continued rapid expansion…
da-kuk/E+ via Getty Images DLocal Limited (NASDAQ:DLO) operates a payment processing platform that helps businesses in online payments globally. The company has achieved a remarkable amount of growth, as in Q2 the company’s revenues grew by 59 percent. I believe that DLocal’s revenues still have significant room for growth. Although the stock seems expensive on…
Werawad Ruangjaroon The VanEck Low Carbon Energy ETF (NYSEARCA:SMOG) invests across renewable energy companies as well as leaders in related environmentally friendly technology. This is a segment that has grown significantly in recent years, but underperforming following what was a short-lived pandemic boom. Indeed, the latest headlines aren’t helping. Solar stocks within the SMOG portfolio…
Jay Yuno Why Anta? Global sportswear leaders like Nike (NKE) and Adidas (OTCQX:ADDYY) have been able to generate high ROICs (>20%) in their peak years. I decided to analyse the Chinese footwear market to see if a similar trend could play out there and I found that ANTA Sports Products Limited (OTCPK:ANPDY) is the best…
Ingenious Buddy Both the calendar and the pipeline saw some movement this past week. Two large IPOs launched, one of which also priced, and two sizable deals submitted new filings. Cross-listing from Paris, biotech Abivax (ABVX) led the week’s deals, pricing at the low end to raise $236 million at a $760 million market cap….
ElementalImaging In January, I rated Energizer Holdings (NYSE:ENR) a hold and remarked that it was okay to take profits. I followed my advice and was partially successful in selling my holdings. I sold part of my holding outright and tried to sell the rest using a covered call strategy. Unfortunately, the stock’s momentum faded as…
Michael M. Santiago A week ago I took a look at how and why JPMorgan (NYSE:JPM) has been outperforming its largest rivals, and third quarter earnings underlined a lot of the major points I made – strong asset sensitivity that leverages higher rates, good funding costs, lucrative non-interest-based business, and a strong, competitive franchise that…
First BanCorp. (NYSE:FBP) Q3 2023 Earnings Conference Call October 20, 2023 11:00 AM ET Company Participants Ramon Rodriguez – IR Officer Aurelio Alemán-Bermudez – President and CEO Orlando Berges-González – EVP and CFO Conference Call Participants Alex Twerdahl – Piper Sandler Operator Hello, everyone, and welcome to the First BanCorp Third Quarter 2023 Financial Results….
Western Alliance Bancorporation (NYSE:WAL) Q3 2023 Earnings Conference Call October 20, 2023 12:00 PM ET Company Participants Miles Pondelik – Director, Investor Relations and Corporate Development Kenneth Vecchione – President and CEO Dale Gibbons – Chief Financial Officer Timothy Bruckner – Chief Credit Officer Conference Call Participants Casey Haire – Jefferies Steven Alexopoulos – JPMorgan…
PhonlamaiPhoto In his 1865 book ‘The Coal Question’, economist William Stanley Jevons postulated that the invention of the steam engine, the great productivity leap of the 19th century, would not simply lead to a more efficient and stable demand for the mining of coal. Rather, he suggested (correctly) that whenever a step-up in productivity growth…
Darren415 Welcome to another installment of our BDC Market Weekly Review, where we discuss market activity in the Business Development Company (“BDC”) sector from both the bottom-up – highlighting individual news and events – as well as the top-down – providing an overview of the broader market. We also try to add some historical context…
Torsten Asmus The US 10-year Treasury yield briefly crossed above the 5% mark yesterday (Oct. 19) – the highest since 2007 – before settling at 4.98%, based on Treasury.gov data. For buy-and-hold investors, the elevated yield looks compelling, at least relative to recent years, when interest rates were much lower. But the better question is:…
Tom Werner/DigitalVision via Getty Images Here are three things I think I am thinking about this weekend. 1) What’s the best inflation hedge? There’s always a lot of debate about what the best inflation hedge is. Is it gold, commodities, TIPS, stocks, Bitcoin, real assets or something else? It’s not as clear-cut as we like…
Xand/iStock via Getty Images I’ve been an observer of the Argentine economy ever since I first went there in 1970 to visit my soon-to-become wife. So I am compelled to make this brief post as Argentina’s currency passes a key marker: today, Argentines must now come up with 1000 pesos to buy just one dollar….
niphon By Robert Eisenbeis, Ph.D. As we approach the FOMC’s November meeting and the blackout period starting October 31 for participants’ public statements on monetary policy, we can expect to hear from a number of policymakers on how they view policy going forward after the release last Wednesday of the minutes of the most recent…