DZ Bank’s current infrastructure makes it possible for the bank to take part in the exploratory phase of the ECB’s project testing the settlement of large-volume capital market transactions in central bank money. Germany’s third-largest bank DZ Bank has launched a blockchain-based platform for the processing and custody of crypto assets. The platform will cater…
zhengzaishuru Formula for success: rise early, work hard, strike oil. – J. Paul Getty Oil has been surprisingly strong in the last couple of weeks and looks like it may stage a sizeable rally here. This is happening as unemployment is starting to pick up and as hope for easing inflation persists. I recognize this…
As a publicly traded company, Instacart will need to navigate fierce competitions. Instacart, the popular on-demand grocery delivery and pickup service has submitted an updated filing for its upcoming Initial Public Offering (IPO), revealing its ambition to raise up to $616 million in fresh capital alongside existing shareholders. Instacart IPO: Pricing Strategy In its updated…
Boy Wirat As explained in Prof. Robert Jarrow’s book cited below, forward rates contain a risk premium above and beyond the market’s expectations for the 3-month forward rate. We document the size of that risk premium in this graph, which shows the zero-coupon yield curve implied by current Treasury prices compared with the annualized compounded…
Bitfarms Ltd. (NASDAQ:BITF) Q1 2024 Earnings Conference Call May 15, 2024 8:00 AM ET Company Participants Tracy Krumme – Senior Vice President, Investor RelationsNico Bonta – Interim Chief Executive OfficerBen Gagnon – Chief Mining OfficerJeff Lucas – Chief Financial Officer Conference Call Participants Lucas Pipes – B. Riley SecuritiesJoe Flynn – Compass PointJosh Siegler –…
MicroStockHub/iStock via Getty Images In 3Q23, the Large Cap Value, All Cap Value, and All Cap Blend styles earn attractive-or-better rating. Our style ratings are based on the normalized aggregation of our fund ratings for every ETF and mutual fund in each style. Our fund ratings are based on aggregations of the ratings of the…
If the entire $2.7 billion exits the bitcoin market, it would exert significant downward pressure on bitcoin prices, the authors stated. However, if most of this $2.7 billion transitions into other bitcoin instruments, such as the newly established spot bitcoin ETFs post SEC approval, the negative market impact would be more moderate. Nevertheless, the bank…
SvetaZi Written by Sam Kovacs. Introduction There’s less than two weeks until the Fed’s next interest rate decision. While the consensus remains that the Fed will keep their target rates stable at 5.25%-5.5%, there is some uneasiness in the market with an 8% (non-zero) probability that rates will be increased. Futures markets this morning signaled…
Charday Penn UK based financial services company Phoenix Group Holdings (OTCPK:PNXGF) has a firmly established status as a big insurance and investments provider. It’s even a part of the FTSE 100 (UKX) index, which includes the biggest 100 stocks by market capitalisation on the London Stock Exchange. Neither its position nor its huge trailing twelve…
PhotoTalk Thesis In my original coverage of Marathon Petroleum (NYSE:MPC), I highlighted the company’s diverse revenue streams, strong cash balances, and undervaluation given the sum of its individual parts. Following my original buy recommendation, the company is up over 100%. Now, after more than doubling in share price, the obvious reaction is to wonder if…
Rio Tinto Group (NYSE:RIO) 2023Full Year Results Earnings Conference Call February 21, 2024 3:00 AM ET Company Participants Menno Sanderse – Investor Relations Jakob Stausholm – Chief Executive Officer Peter Cunningham – Chief Financial Officer Conference Call Participants Richard Hatch – Berenberg Paul Young – Goldman Sachs Kaan Peker – RBC Jason Fairclough – Bank…
Spencer Platt/Getty Images News Investment thesis When I wrote my initial thesis about Google (NASDAQ:GOOGL), I was cautious, and that did not age well as the stock outperformed the broader U.S. market since mid-May. A lot happened since then, and today, I want to update my thesis about Google. While I believe that Google lags…
Pogonici Thesis The SPDR Portfolio Short Term Corporate Bond ETF (NYSEARCA:SPSB) is a fixed income exchange traded fund. The vehicle has no leverage, and as per its literature: seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg U.S. 1-3 Year Corporate Bond Index…
Natee127 Investment Thesis OppFi (NYSE:OPFI) is a financial technology company that helps people with limited access to traditional banking by providing them with affordable and transparent lending options. They offer loans online, focusing on individuals who may not have a strong credit history or face challenges in obtaining loans from traditional banks. OppFi has the…
PM Images After narrowly missing recession in 2022/23, during unprecedented 525 basis points of rate hikes in a span of 16 months, 2024 has started on strong footing with the major indices up close to 10% on a year-to-date basis. Historically, during election years in US, the S&P 500 (SP500) delivered on average 11.28% return…
Trend Micro Incorporated (OTCPK:TMICF) Q2 2023 Earnings Conference Call August 8, 2023 3:00 AM ET Company Participants Mahendra Negi – CFO Eva Chen – Co-Founder and Group CEO Kevin Simzer – Chief Operating Officer Akihiko Omikawa – EVP Japan and Global Consumer Business Conference Call Participants Hiroto Segawa – Morgan Stanley Securities Mahendra Negi Yes….
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q4 2023 Earnings Conference Call February 28, 2024 5:00 PM ET Company Participants Bill Warmington – VP, IR Githesh Ramamurthy – Chairman and CEO Brian Herb – CFO Conference Call Participants Alexei Gogolev – JPMorgan Samad Samana – Jefferies Callie Valenti – Goldman Sachs Peter Burkly – Evercore ISI…
Ratchapon Supprasert/iStock via Getty Images Investment Thesis Recent underperformance in Redishred’s (TSXV:KUT:CA)(OTCPK:RDCPF) share price presents investors with an opportunity to purchase an underfollowed microcap with a strong M&A strategy, that is currently trading at a ~14% LTM free cash flow yield. Description Redishred is primarily a paper shredding business that was founded in 2006 with…
Douglas Rissing Is good news now good news? And is bad news now bad news? I think we might be there. Consider what transpired last week – cool CPI data paired with, at long last, a tame Retail Sales print. Wholesale prices were also much softer than expected, as seen through October PPI figures. Not…
We Are With the recent market drop, more companies are showing up on my screens as potential bargains. The primary initial screen I use for tracking is the variance from historical dividend yields, or dividend yield theory (DYT). Dividend yield theory is mean reversion on dividend yield. It says that over time, a company’s dividend…
It is also possible that as users become more familiar with the AI tool, they spend less time exploring its features and go straight to executing specific tasks, accounting for the drop in engagement time. OpenAI’s popular artificial intelligence (AI) chatbot ChatGPT has recorded a drop in monthly web visits for the third consecutive month…
MarekUsz/iStock via Getty Images By Albert Grosman & Brian Lund, CFA Picking the Right Odds, Not the Right Horse Market Overview Spotting a secular trend and identifying the winners, as many small cap investors are trying to do with AI- and bitcoin-related beneficiaries, is a time-honored investment strategy that has made investors a lot of…
martin-dm/E+ via Getty Images A Quick Take On Fractyl Health, Inc. Fractyl Health, Inc. (GUTS) has filed to raise $100 million in an IPO of its common stock, according to an SEC S-1 registration statement. The firm is developing treatments for Type 2 Diabetes and for obesity. Its lead procedural approach is already approved in…
Pgiam/iStock via Getty Images Almost three years ago, I recommended purchasing Farmers & Merchants Bancorp (OTCQX:FMCB) for its promising growth prospects and its depressed valuation level due to the coronavirus crisis. Since my article, the stock has outperformed the S&P 500 by a wide margin, as it has offered a total return of 39% whereas…
bjdlzx Quick Business Overview Arrow Exploration is mainly UK listed/traded but also Canada and US listed whilst top management are located in Canada and the bulk of production comes from Colombia. Management have a successful history of building up small oil companies and exiting these in sales to strategic acquirers after several years at high…
PM Images Since the beginning of 2021, Kinder Morgan’s (NYSE:KMI) shares have been stuck trading sideways between $15 and $20. Shares have still not gotten back to their pre-pandemic levels, and we’re approaching a decade of relatively flat returns. Long-term investors who have held shares for more than a decade are probably displeased with KMI…
Monty Rakusen Introduction The Phoenix-based Southern Copper Corporation (NYSE:SCCO) is a majority-owned, indirect subsidiary of Grupo México, S.A.B. de C.V. (OTCPK: GMBXF). As of June 31, 2023, Grupo Mexico, through its wholly-owned subsidiary Americas Mining Corp (“AMC”), owns 88.91% of its capital stock. SCCO Diagram Business (SCCO Presentation June 2023) The company is an integrated…
According to Intel Chief Executive Pat Gelsinger, all efforts to get the Tower deal approved by the regulators proved abortive. Intel Corporation (NASDAQ: INTC) has announced that it will not be pursuing the acquisition of Israeli contract chipmaker Tower Semiconductor any further. According to a press release, the deal, which expired on Tuesday, August 15, will…
tbradford/iStock Unreleased via Getty Images We previously covered McDonald’s Corporation (NYSE:MCD) in June 2022, discussing its inflation-proof and recession-proof prospects during the potential bear market after the hyper-pandemic boom. While we had believed its offerings and stock to be highly resilient, the stock had also been overly prudently rated as a Hold then, with us…
zhongguo It has been almost a year since the last time we covered Atlantica Sustainable Infrastructure (NASDAQ:AY), which we already thought was attractively priced, although we warned that we did not expect the company to deliver much growth in cash available for distribution (CAFD) or dividend increases. Surprisingly, their “Strategic Review” is still ongoing, but…
Suzano S.A. (NYSE:SUZ) Q2 2023 Results Conference Call August 3, 2023 9:00 AM ET Company Participants Walter Schalka – CEO Fabio Almeida de Oliveira – Executive Officer, Paper and Packaging Leonardo Grimaldi – Executive Officer, Commercial Pulp Aires Galhardo – Executive Officer, Pulp Operation Marcelo Bacci – CFO, Executive Officer, Finance and IR Luis Renato…
Jason Kempin Back in September, I wrote that I thought investors could take a starter position in RH (NYSE:RH), but that I’d like to wait a little longer to see how things play out. The reason is that home improvement is expected to start to decline in 2024 and there were still a lot of…
Dragon Claws/iStock via Getty Images By William J. Luther The Bureau of Economic Analysis has revised its estimates of inflation. The bad news: prices have risen faster than was previously thought. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew at a continuously compounded annual rate of…
anyaberkut/iStock via Getty Images First, I know I write incessantly about private mortgage insurers. I can’t help it. I just think they are generally ignored and frequently misunderstood when not ignored. Most importantly, I am confident they remain quite cheap to their likely outcomes for the next 5+ years. Second, a shout-out to me. Yes,…
Torsten Asmus Thesis Attractive investments can be difficult to find sometimes. Many investors and traders do not know what to do with their cash in between good ideas. Many of us feel the need to immediately redeploy our capital and end up placing it into sub-par investments at sub-optimal times. With inflation eroding the value…
Marco Bello The bull market of 2023 has well and truly resumed, and for those of us who maintained bullishness during the selling this summer (which was not easy), the rally has been vindication in some ways. I said back in March – and again in September – that I thought moonshot legend ARK Innovation…
Phiromya Intawongpan The Weekly Closed-End Fund Roundup will be put out at the start of each week to summarize recent price movements in closed-end fund [CEF] sectors in the last week, as well as to highlight recently concluded or upcoming corporate actions on CEFs, such as tender offers. Data is taken from the close of…
Richard Drury The JP Morgan Equity Premium Income ETF (NYSEARCA:JEPI) has grown rapidly since its launch, largely due to its value proposition to investors, namely offering an attractive monthly distribution that is backed by broad diversification somewhat resembling the S&P 500 (SPY). Data by YCharts In particular, it has nearly 20% exposure to technology stocks,…
With the United States lacking an extradition treaty with the UAE, Seattle Judge Richard Jones ordered that CZ must remain with the country for the time being before he determines where the crypto billionaire is a flight risk. Despite pleading guilty to all charges and paying a hefty bond to reassure the United States Department…
Anne Czichos Timing is everything in markets. When we last covered International Business Machines Corporation (NYSE:IBM) we looked at the results and the valuation and felt that this was almost there at the right level for investors to exit and not look back. Specifically, we said: The only time when it was more expensive was…
Eric Francis Investment thesis Warren Buffett is betting big on the U.S. homebuilders this year. The reason is on the surface: there is a massive shortage of homes in the U.S. due to the substantial underinvestment in the industry in the Great Recession aftermath. It is unsurprising that D.R. Horton (NYSE:DHI) was one of the…
Bitcoin is the largest, longest-running, decentralized, and most secure digital currency of all time, but it is far from the first such attempt. We as a community would do well to remember that bitcoin stands on the shoulders of previous projects, spanning across decades of work. Satoshi built upon the technical underpinnings of said projects,…
The demand for US spot Bitcoin ETFs surged significantly on Tuesday, outpacing the new supply created daily by miners by a remarkable 614%, according to Gayatri Choudry, Quantitative Research Analyst at Bitwise Asset Management. Demand from US BTC ETFs exceeds new BTC supply by 7x pic.twitter.com/OCU5D19rpf — Gayatri (@GayatriPC_) March 27, 2024 The surge in demand for…
One possible reason behind the strong surge in Freind.tech’s user activity is due to several non-crypto personalities joining the platform recently. Decentralized social platform Friend.tech is once again gaining major traction with the total value locked (TVL) shooting to more than $20 million in the last four days. The development comes within two weeks of…
Dragon Claws Intro & Thesis In early February, I wrote an article about SurgePays, Inc. (NASDAQ:SURG) stock in which I made the case for buying this stock based on its favorable valuation and growth opportunities. Unfortunately, my thesis has aged badly in a short period: Seeking Alpha, the author’s article on SURG After a closer…
awiekupo/iStock via Getty Images Strapped for cash, what now? I have been bullish on Albemarle (NYSE:ALB) at these prices even though it continues to go through a cycle of weakness. I am downgrading this to hold and have reduced my share count while I wait to see if the company can pivot to positive free…
Sean Gallup Cemex (NYSE:CX) has proved a disappointing investment for long-term shareholders. Over the past 10 years, CX has delivered a total return of -24% compared to a total return of 110% delivered by the iShares MSCI ACWI ETF (ACWI) and a total return of 17.1% total return delivered by the iShares MSCI Mexico ETF…
fbxx In this article on Moncler S.p.A. (OTCPK:MONRF), I provide a brief update on the company. In my previous articles, I had pointed out that despite the impressive growth figures, the company was approaching its price target in a way that made it less attractive. As anticipated in the article, the previous target price was…
Destroying 25 years of performance before shareholders can have a say. vm We’ve covered W. P. Carey (NYSE:WPC) for years, but we don’t write about it as frequently. There usually wasn’t much to say about it. It was supposed to be a stable stock for slow dividend growth. How often can you publish to state…
Pratchaya/iStock via Getty Images Larimar therapeutics (NASDAQ:LRMR) has been making significant progress in advancing its drug known as CTI-1601, which is being developed for the treatment of patients with Friedreich’s ataxia [FA]. That’s because it just received clearance from the FDA so that it can advance a higher dosing 50 mg cohort of CTI-1601 in…