MCCAIG/iStock via Getty Images The global macro playbook As a global macro investor/trader, my stock market strategy is fairly simple, I am long stock by default unless: The Fed is expected to increase interest rates aggressively. There is an imminent recession. There is a risk of an imminent systemic credit event. Accordingly, I was bearish…
Kuzmik_A/iStock via Getty Images Introduction SP Group (OTC:SPGGF) is a Danish company focusing on the production of moulded plastic and composite components for industrial and medical use. The company was created in 1972 and now, just over 50 year later, SP’s products are sold in almost 100 countries all over the world and some of…
We Are We previously covered BHP Group Limited (NYSE:NYSE:BHP) in September 2023, discussing the uncertain recovery in the iron spot prices as China’s portside inventory declined and imports accelerated over the past few months. However, with the demand for iron ore expected to moderate over the next few decades, it was unsurprising that the producer…
JHVEPhoto/iStock Editorial via Getty Images Investment Thesis Simultaneously incorporating into your investment portfolio one company that offers a relatively attractive Dividend Yield and one that provides dividend growth brings investors the benefits of blending dividend income with dividend growth. I have applied this strategy with the recent acquisitions of Nike (NYSE:NKE) and Exxon Mobil (NYSE:XOM)….
PeopleImages JPMorgan Chase & Co. (NYSE:JPM) investors who braved the pessimistic selloffs in March and October have been duly rewarded, as JPM led the recovery against its financial sector (XLF) peers. Based on my Buy ratings on JPM in March and September, they have substantially outperformed the S&P 500 (SPX, SPY), notwithstanding JPM not being…
Bridgeline Digital, Inc. (NASDAQ:BLIN) Q4 2023 Earnings Conference Call December 27, 2023 4:30 PM ET Company Participants Thomas Windhausen – CFO Ari Kahn – President and CEO Conference Call Participants Howard Halpern – Taglich Brothers, LLC Operator Thank you for standing by, and welcome to Bridgeline Digital’s Fourth Quarter 2023 Earnings Conference Call. At this…
LeoPatrizi/E+ via Getty Images A Single-Control System with the C/C Ratio Only The “C/C” (Cash to Capital) Ratio and the “A-A” (Asset-Allocation) Decision were mutually constrained: in a short term (in a couple of months), the A-A Decision would dictate by rebalancing toward a target allocation, leaving the C/C Ratio disrupted temporarily. while, in a…
xxwp We previously covered Crocs, Inc. (NASDAQ:NASDAQ:CROX) in September 2023, discussing its underwhelming prospects ahead, thanks to the immense pulled forward growth during the hyper-pandemic period and the painful normalization in demand over the next few years. Combined with the tightened discretionary spending from the elevated interest rate environment and the repayment of federal student…
murat4art Introduction I like oil and gas, and one of the lower-risk ways to have exposure to the prices of energy commodities is by buying royalty companies. Royalty companies tend to have a reasonably high up-front cost when they acquire new royalties but that’s a sunk cost and there usually are no follow-up investments required….
Ben Hider International Business Machines (NYSE:IBM) has gained around 15% since December 15, 2022, the date when my bullish thesis compared its incremental growth strategy with Microsoft (NASDAQ:MSFT) while also highlighting the strength of the consulting business. In the meantime, as charted below, the software giant’s stock has delivered three times more gains thanks to…
David Ramos IBM (NYSE:IBM) separated its managed infrastructure services business to become an independent company named Kyndryl (KD). After the separation, IBM’s core growth is driven by its Hybrid Platform & Solutions and Consulting businesses. I expect it can generate 4-5% revenue growth going forward. I initiate with a ‘Buy’ rating and a fair value…
AlexSecret We previously covered RTX Corporation (NYSE:RTX) in September 2023, discussing its mixed prospects, thanks to the additional $3B pre-tax impact from the Pratt & Whitney powder metal issue prior to the FQ3’23 earnings call. With the stock plunging then, we had recommended an entry point of $70s for an improved margin of safety and…
Robert Way/iStock Editorial via Getty Images PDD Holdings (NASDAQ:PDD), the owner of Temu, is visibly trying to make its fourth quarter 2023 earnings the best in its history. Upping ad spend over the Christmas Season, it is investing heavily in growth. Temu ads were all over social media during the holidays, with massive sums of…
This article is featured in Bitcoin Magazine’s “The Primary Issue”. Click here to get your Annual Bitcoin Magazine Subscription. Click here to download a PDF of this article. Which way Western Man? “Equality… belongs essentially to decline: the chasm between man and man, class and class, the multiplicity of types, the will to be one’s…
pjohnson1 Investment Thesis I assign a buy to Yum Brand Holdings (NYSE: NYSE:YUM) with a price target of $140 per share. YUM’s shift to 98% of stores franchised has made it an asset-light business, reducing ongoing expenses and capital expenditure requirements. I expect Yum’s low-cost menu to serve as an attraction to consumers during an…
Natal-is Crocs, Inc. (NASDAQ:CROX) is a leading lifestyle footwear brand with a stock that has outperformed the market over the past five and ten years. Accordingly, CROX posted a 5Y and 10Y total return of 28.8% and 21.6%, respectively. However, it doesn’t mean that CROX is immune to shorter-term market volatility, depending on when investors…
southtownboy/iStock via Getty Images REITs (VNQ) rallied after it was announced that the consumer price index had come down to the target range. The market took this as further proof that the Fed’s aggressive rate-hiking cycle had finally killed inflation and that further rate hikes wouldn’t be needed. On the contrary, many investors quickly changed…
M. Suhail M&T Bank (NYSE:MTB) is a Buffalo, New York-based regional bank, with over 1000 branches across the Eastern US, ranging from Maine to North Virginia. The bank operates as a universal bank, offering retail banking, commercial banking, and investment banking services. TradingView TradingView TradingView Through these activities, M&T recorded Q3’23 revenues of $3.09bn, alongside…
It was a controversial year for the crypto indutrsy. Let’s have a closer look at the major crypto-related events that too place in 2023. The year 2023 has been a rollercoaster ride for the cryptocurrency ecosystem, defined by important events that have impacted the industry’s direction. From stablecoin woes to regulatory disputes, institutional acceptance, and…
LanaSweet/iStock via Getty Images As I reflect on the last 12 months in REIT-dom, there’s one word that sticks out to me: Perseverance – the very idea that sums up my investing mantra, built on and by decades of past experiences. A few days ago, I wrote an article describing my journey as a real…
monsitj In this month’s article, I outline why I will maintain my position of having 100% of my pension plan assets invested in the SPDR S&P 500 ETF (NYSEARCA:SPY). I will not have a cash position. First, let me review my pension plan performance in December. The market, as measured by the S&P 500 index,…
GOCMEN Introduction It seems nothing can save Alibaba (NYSE:BABA) and its falling stock. The sentiment remains extremely negative, economic data from China don’t spark optimism either, and investors deploy their funds into large-cap American tech stocks since they have produced the best returns again. Chinese companies remain “uninvestable” according to many, as the environment around…
Shutthiphong Chandaeng/iStock via Getty Images Thesis The Vanguard Mega Cap Value ETF (NYSEARCA:MGV) is an equities exchange traded fund from the behemoth asset manager Vanguard. The fund has over $6 billion in assets under management, and aims to track the performance of a benchmark index that measures the investment return of the largest-capitalization value stocks…
CreativaStudio We have been looking at multi-family high-quality residential REITs, as we believe it is one of the sectors that currently offers better value in the real estate sector, especially when one considers its more defensive nature. There are many options to consider, but we decided to focus on six of the biggest and best…
SweetBunFactory The AI Investment Surge of 2023 2023 is marked by a significant investment surge in AI, offering promising long-term opportunities in areas from chip manufacturing to end-user devices. This trend has notably boosted tech industry stocks. However, this investment boom also poses challenges in identifying long-term winners, as many stocks might already reflect their…
Inna Kot Shares of First American Financial (NYSE:FAF) have returned over 25% this year including dividends, largely keeping pace with the broader market even as its title insurance business has faced a significant downturn. I expect recovery in this unit to be slow, while lower rates could begin to reduce investment income by mid-year. As…
serts 2023 was ultimately a pretty soft year for U.K. life & savings company Phoenix Group (OTCPK:PNXGF), whose shares fell slightly on a total return basis, underperforming British peers with similar business such as Aviva (OTCPK:AVVIY)(OTCPK:AIVAF), Legal & General (OTCPK:LGGNY)(OTCPK:LGGNF) and M&G (OTCPK:MGPUF). Frustrating as this will have been for Phoenix’s shareholders, recent underperformance leaves…
olrat TotalEnergies (NYSE:TTE) is one of the world’s largest integrated energy companies, with operations in oil and gas, renewables, electricity, and chemicals. Since my last article, the stock has rewarded investors with 10.17% returns. The stock is trading at a five-year-high, although its financial performance is weaker than FY2022. FY 2022 saw energy companies make…
Bruce Bennett Carrols Restaurant Group (NASDAQ:TAST) is the largest Burger King franchisee in the country operating ~15% of all U.S. Burger Kings. Since becoming a public company in December 2006, TAST has delivered a total return of 111%. Comparably, the S&P 500 has delivered a total return of 364% during the same time period. While…
oatawa With the central bank shifting its policy with regards to interest rates and a U.S. presidential election year coming up, more volatility may await passive income investors in 2024. With more volatility possibly on the horizon next year, passive income investors may want to prioritize high quality BDCs with proven track records, like Main…
KenWiedemann Investment Thesis Slate Grocery (SGR.UN:CAD and USD ADR SRRTF) is a REIT specializing in retail space anchored by grocery stores. Slate owns 117 properties across 24 states, averaging $12.37/sqft in rent across 15.3 million sqft. Grocery-anchored retail is uniquely positioned to weather economic hardships. The necessity of grocery shopping ensures steady consumer traffic and…
Martin Leber Banco Bilbao Vizcaya Argentaria (NYSE:BBVA) is likely to suffer from interest rate cuts in 2024 and higher loan losses, thus I see its shares as overvalued right now. As I’ve covered in the past, I have been bullish on BBVA for a long time, especially after its decision to sell the U.S. business…
Robert Way Thesis Lululemon Athletica Inc., (NASDAQ:LULU) commonly known as Lululemon, is a Canadian-American multinational athletic apparel retailer headquartered in British Columbia and incorporated in Delaware, United States. The stock has performed exceptionally well, gaining more than 50% in value in 2023. While it trades at a rich valuation of close to 60 times earnings,…
Michael M. Santiago 2023 has been a winning year for JPMorgan (NYSE:JPM), and 2024 should be no different: Heading into the next year, I am bullish on the banking industry, as I see rate cuts supporting credit volume as well as capital markets and M&A activity. Moreover, sentiment on banks should rebound sharply as lower…
JHVEPhoto/iStock Editorial via Getty Images DaVita (NYSE:DVA) has rallied over 40% after cratering on Ozempic related fears. Additional commentary that GLP-1s could erode DaVita’s business has been nonexistent since, proving once again Mr. Market can be quite an irrational fellow. Nonetheless, the future is highly uncertain. Investors must be prepared for a wide variety of…
EvgeniyShkolenko/iStock via Getty Images Investment thesis Our current investment thesis is: Leidos is positioned to achieve healthy long-term growth, owing to its focus on government contracts in sectors of resilience and ones that are benefiting from tailwinds. Underpinning this is deep expertise and a competitive pricing/margin structure. The company does not look overly competitive relative…
bjdlzx George Fink, who is a major shareholder of Bonterra Energy Corp. (OTCPK:BNEFF) and ran the company “forever,” has retired. This is one of many companies that had adopted an income model that was in place when I began reviewing the operations for coverage. Later, management was beginning to figure out how to recover from…
Daniel Grizelj It’s the last trading day in 2023, and it’s fair to say that the year turned out better than most of the pundits had predicted. Now, of course, the pundits are busy with their prognostications for the year ahead, including specific calls for US equities and other asset classes that will likely reach…
TommL/iStock via Getty Images Note: All currencies are denominated in Polish zloty (PLN) unless otherwise stated. Dino Polska (OTCPK:DNOPY) (OTCPK:DNOPF) has become one of my largest holdings (~15% of the portfolio), not just because of the stock price appreciation, but also because of my conviction in the company, the management, and the predictability of the…
Scott Olson/Getty Images News Tupperware Brands Corporation (NYSE:TUP) faces financial challenges and an unsustainable debt burden. The company is attempting to execute a turnaround plan to improve its situation. Firstly, TUP is shifting from direct sales to nationwide distribution through Target stores and other channels. Additionally, TUP engaged in debt restructuring and changed its leadership,…
deepblue4you By Alejandro Saltiel, CFA The current valuation of the S&P 500 Index (SP500, SPX) is at 20 times forward earnings. The below chart, taken from WisdomTree’s Daily Market Snapshot, shows this is above the 30-year median but still within 1 standard deviation. Our Senior Economist, Jeremy Siegel, has written that 20 times forward earnings…
jetcityimage Wayfair Inc. (NYSE:W) is another online retailer still struggling to right-size the business for the normal sales pattern post-Covid. The online furniture platform saw a massive flood of sales in 2020 with consumers stuck at home needing furniture for home offices and students learning from home. My investment thesis is Bullish on the concept…
Christopher Furlong/Getty Images News As a recent retiree now entering the “decumulation phase” of my investing life, I am interested in collecting high yield income from stocks such as BDCs, as I have previously written about. I most recently reviewed a BDC that I added to my Income Compounder portfolio back in September, when I…
allensima/iStock via Getty Images JIADE Limited’s IPO Is High Risk JIADE Limited (JDZG) has filed proposed terms to raise $9.9 million in an IPO of its ordinary shares, according to an SEC F-1 registration statement. The firm provides education support software and services for adult education institutions in China. Given the tiny size of the…
Scaramanga Photography The ALPS Sector Dividend Dogs ETF (NYSEARCA:SDOG) is an interesting fund to consider entering 2024. This fund has caught the attention of many with its innovative approach to portfolio construction, and could be a big winner next year (at least on a relative basis). SDOG is an exchange-traded fund, or ETF, that aims…
clodio/iStock via Getty Images Today, Brunello Cucinelli (OTCPK:BCUCY) is one of Italy’s most influential contributors to the prestige of the “Made in Italy” label. Based in Solomeo, a small village in Umbria, Brunello Cucinelli uses the rich regional expertise in craftsmanship to produce the best cashmere products and simultaneously carry the Italian dream into the…
tamara_kulikova VanEck Morningstar Wide Moat ETF (BATS:MOAT) is one my very favorite diversified US large cap ETFs. It invests in companies judged to have wide moats, which means they have, as Van Eck says, “sustainable competitive advantages” that distinguish them from other companies. The ability to maintain that status in good and bad markets alike…
JHVEPhoto Investment Thesis Parker-Hannifin Corporation (NYSE:PH) is well-positioned to benefit from the strong demand in its aerospace as well as industrial business. The company’s Aerospace Systems segment is benefiting from a recovery in commercial aviation post reopening and increased defense spending due to rising geopolitical tension. Further, the Diversified Industrial segment should benefit from inventory…
franckreporter It was a December to remember for the world of equities. The S&P 500 (SPY) rose more than 4% during the final month of 2023 while small caps (IWM) shone once again, rallying 13% following a 9% November gain. The Magnificent Seven tech-related stocks performed fine, helping the Nasdaq 100 (QQQ) to its best…
bestdesigns/iStock via Getty Images There are over three dozen publicly traded business development companies. They range from $11 billion market cap Ares Capital (ARCC) to Rand Capital (RAND) whose equity value of $34 million renders it the smallest publicly traded BDC. Golub Capital (NASDAQ:GBDC) at a $2.57 billion market cap has been a relatively under-the-radar…