PM Images Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund (“CEF”) market activity from both the bottom-up – highlighting individual fund news and events – as well as the top-down – providing an overview of the broader market. We also try to provide some historical context as well…
tadamichi Historical data shows that the vast, vast majority of investments perform poorly. This is true for bonds, stocks, and real estate as asset classes. Nearly all of it makes for a bad investment for outside passive investors. And what I’ll show in this piece is that this is both normal and unavoidable. And unintuitively,…
Eoneren By James Knightley US inflation remains hot, but not as hot as feared So the core PCE deflator has indeed come in at 0.3% month-on-month, with upward revisions to January and February, rather than the 0.48% MoM implied by the quarterly PCE deflator from yesterday, assuming no revisions. In the great scheme of things,…
Thomas Barwick The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. – Warren Buffett In general, we do not like the travel…
Martin Barraud Lately, I have written a few negative articles on Realty Income (NYSE:O) and this has led some of its bulls to label me as a “hater”. But the reality is that I have no dog in this race. I am not shorting Realty Income, and I don’t stand to benefit in any way…
rzelich/E+ via Getty Images Japanese stocks have been one of the best investments outside the US in recent years. Funds like the WisdomTree Japan Hedged Equity Fund ETF (NYSEARCA:DXJ) provide exposure without having to worry about Yen movements and expensive hedges. However, all good things come to an end, or at least pause for a…
CatEyePerspective Introduction: A biotech stock with a large dividend is pretty uncommon since biotechnology and pharmaceutical companies tend to focus more on reinvestment into pipeline growth rather than shareholder returns. But as a biopharma grows larger and there may be a paucity of potential pipeline or partnership opportunities that may be worth investing in, the…
gerisima/iStock via Getty Images Investment Thesis Years of lower sales, shrinking ROIC, and declining margins add to the many risks ahead for Leggett & Platt, Incorporated (NYSE:LEG). This Dividend King could even lose its crown if their situation does not improve. Bedding And Bedding Accessories Leggett & Platt is a company that makes various consumer-discretionary…
Torsten Asmus Listen below or on the go on Apple Podcasts and Spotify Yimin Xu of Cestrian Capital Research on past easing cycles, strong economic data and Fed rate cuts (0:40). Sticky inflation and bond market equilibrium (2:30). Attractive 10-year yields (5:00). This is an abridged conversation from Seeking Alpha’s Investing Experts podcast. Transcript Rena…
George Pachantouris/Moment via Getty Images Sometimes, it can be difficult to place a company. Some are just clearly attractive, while others are clearly unattractive. But every so often, there are firms that sit somewhere in the middle. One company that I could point to where this was the case, at least for me, is The…
Luis Alvarez Oil prices are back on the rise, finishing last week at the highest mark since October. The Energy sector has been very strong as renewed selling pressure in the bond market has brought about feelings of 2022. In past market cycles, bull markets in WTI and Brent have coincided with healthy returns in…
Shutthiphong Chandaeng Overview My recommendation for Magnite (NASDAQ:MGNI) is a buy rating, as I believe MGNI can at least grow in line with the industry’s growth rate and that the Disney deal impact is not going to be as bad as the market thinks. As MGNI shows the market that growth is not impacted through…
Just_Super/iStock via Getty Images The best way to predict the future is to create it. Peter Drucker Preface ESG is a massive topic; in fact, so big that it is hard to give it justice in the approximately 1,500 words I have at my disposal in these monthly letters. Consequently, I have decided to split…
LunaKate Bank of America (NYSE:BAC)’s shares have rallied 10% so far in FY 2024 on expectations that the Federal Reserve will delay its rate pivot and not push for a lower federal fund rates in the very short term. The change in the Fed’s tightening policy obviously benefits large Wall Street banks like Bank of…
Aleksandra Zhilenkova MicroStrategy (NASDAQ:MSTR) is the largest corporate owner of Bitcoin and the investment company benefited greatly from the rise in the Bitcoin price in the last couple of months. The company also just raised another $604M via convertible notes to acquire even more Bitcoin. MicroStrategy further has a subscription business through which it offers…
aapsky Summary Following my coverage of Amadeus IT Group (OTCPK:AMADF), for which I recommended a buy rating due to the strong growth tailwind from air travel and pricing power seen in the distribution segment (due to the product’s stickiness), this post is to provide an update on my thoughts on the business and stock. I…
FuzzMartin Thesis I believe B. Riley Financial, Inc. (NASDAQ:RILY) is in a precarious position with further downside to go because: RILY’s core business is in a risky solvency position. The company has a negative tangible book value yet is trading above book value. Short interest is high, but I believe a squeeze is unlikely until…
AzmanJaka/iStock via Getty Images Thesis The Invesco High Yield Equity Dividend Achievers ETF (NASDAQ:PEY) is positioned precariously at the hard-to-execute intersection of high-dividend payments and following an index-based strategy. While the ETF’s strategy of mirroring the Nasdaq US Dividend Achievers 50 Index offers an attractive proposition through its portfolio of high-yield dividend stocks with a…
Bloomberg/Bloomberg via Getty Images The following segment was excerpted from this fund letter. Pershing Square Holdings (OTCPK:PSHZF) Pershing Square Capital Management (PSCM), the investment management company established by William A. Ackman in 2003, has always had a significant profile, arising from its methodology and the highly confident nature of its founder. In the nine years…
Sean Anthony Eddy Thesis Summary PayPal (NASDAQ:PYPL) is making headlines as the company has announced a new CEO, Alex Chriss. Markets have so far received this news well, with the stock up over 10% in the weeks following the announcement. Chriss has promised to deliver innovation to the company with hopes of reversing the trend…
alexsl Introduction The iShares MSCI Emerging Markets ex China ETF (NASDAQ:EMXC) is a $9bn sized ETF, that has been providing exposure to non-China based emerging market (EM) stocks, for close to 7 years now. The focus universe here consists of stocks that belong to the following EMs- Brazil, Chile, Colombia, Czech Republic, Egypt, Greece, Hungary,…
Editor’s note: Seeking Alpha is proud to welcome The Value Hunter as a new contributor. It’s easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium. Click here to find out more » mkistryn/iStock via Getty Images VictoryShares US Large Cap…
Maxxa_Satori Prologis, Inc. (NYSE:PLD) profits from the growth of eCommerce and logistics-related businesses and has built a successful, globe-spanning, real estate empire. Prologis’ predominant focus on logistics facilities around the world, particularly in the United States, has led to above-average funds from operations growth for the trust in recent years. International expansion and a fast-growing…
The core of Bitcoin’s security model relies on this basic game theory—miners, armed with their digital pickaxes, are in a relentless chase for profit. And it’s this pursuit that keeps the network secure. Basic vanilla mining involves producing blocks to earn the block rewards and transaction fees, but have you ever considered that miners might…
sommart ETF Snapshot and Recent Performance Investors looking for targeted access to US regional banks may consider looking at the iShares US Regional Banks ETF (NYSEARCA:IAT). IAT tracks the Dow Jones U.S. Select Regional Banks Index, which in turn is a subset of Dow Jones U.S. Bank Index. Banks that make up the former are…
Tbaylous/iStock via Getty Images As far as banks go, one of the oldest that you have likely never heard of that still exists today is The Bank of N.T. Butterfield & Son Limited (NYSE:NTB). Although the bank was originally founded in 1858, it actually traces its roots back to 1784 when Nathaniel Butterfield founded his…
1001Love/iStock via Getty Images The Worst Of The Bunch The PIMCO Dynamic Income Opportunities Fund (NYSE:PDO) debuted on 1/29/2021 and is now the second newest of PIMCO’s 11 taxable fixed income closed end funds. This was an unfortunate time to come public, at the end of a benign interest rate environment just before the steepest…
ronstik/iStock via Getty Images We have seen this question being asked repeatedly, recently. Frankly, it surprises me, because when I look broadly at the economy, I see a lot that’s wrong. As far as I can tell, this is more a political question than an economic question- but it has elements of both economics and…
Justin Sullivan Overview AT&T (NYSE:T) is a global provider of telecommunications and technology services, operating through two key segments: Communications and Latin America. The Communications segment delivers wireless voice and data communication services, retailing handsets, wireless data cards, computing devices, and related accessories through its company-owned stores, agents, and third-party retail outlets. Additionally, it offers…
Dilok Klaisataporn/iStock via Getty Images “A lot of people with high IQs are terrible investors because they’ve got terrible temperaments.” – Charlie Munger In conversations about the economy over the last several months, we’ve discussed how the current macro backdrop has been among the most difficult to make sense of that I can ever remember….
OlenaMykhaylova The Neuberger Berman High Yield Strategies (NYSE:NHS) is a closed-end fund aka CEF that can be employed by investors who are seeking to earn a very high level of income from the assets in their portfolios. The fund’s current 14.46% yield stands as a testament to its ability to provide investors with an income,…
Khosrork/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…
Searsie Introduction Over the last six months, the stock of uranium mining firm- Uranium Energy Corporation (NYSE:UEC) has been on an astounding run, delivering returns of 155%, and thus also trouncing the quantum of returns seen in the broader markets. YCharts UEC has the wind in its sails and with good reason. However, one may…
Lemon_tm In a recent article, I predicted that Realty Income (NYSE:O) would report strong 3rd quarter results. The reason why I felt so confident about it is that most of its net lease peers had already released their results and they had been great across the board: VICI Properties (VICI): Beat Essential Properties Realty Trust…
Hayes predicts that Yellen’s actions, in collaboration with the US Federal Reserve, will result in a net liquidity injection of $1 trillion into global financial markets. In a recent essay titled ‘Bad Gurl,’ Arthur Hayes, a renowned crypto expert and former CEO of BitMEX delves into the intricate world of finance, spotlighting the influential figure of…
primeimages The S&P 500 is fighting (unsuccessfully at this point) for its eighth positive session in a row today (the longest winning streak for the index in exactly two years). But looking under the hood at the past two sessions, there has been some underlying weakness. Although Monday and Tuesday saw the S&P 500 rise…
janiecbros/E+ via Getty Images Physicians Realty Trust (NYSE:DOC) is a real estate investment trust (“REIT”) that we recently got behind and suggested buying in the $10-$11 range. Well, you can forget about it now, because DOC is being bought out by Healthpeak Properties, Inc. (NYSE:PEAK). Folks, we consider this one of the worst deals we…
Joe Raedle/Getty Images News American Airlines Group Inc. (NASDAQ:AAL) is expected to report FQ3 2023’s earnings pre-market on Thursday, October 19th. Analysts expect the company to report earnings of 26 cents per share on the back of $13.54 billion in revenue. Should American Airlines meet these numbers, it’d represent a massive EPS decline of 62%…
mouu007 Despite a challenging market environment over the last several months, we closed out another exciting quarter. My diversified All-Weather Portfolio (“AWP”) declined by fewer than 3%, bettering the Nasdaq’s performance and the S&P 500’s. Moreover, the AWP’s diversified stock and the ETF segment declined by only 1% once covered call premiums were factored in….
The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. Bitcoin Building Massive Support Range Bitcoin is stuck between strong support and resistance. Breaking out of…
SeregaSibTravel/iStock Editorial via Getty Images Thesis In my previous article about Carnival Corporation (NYSE:CCL), I estimated Carnival’s fair value to be $10.77 based on revenue projections for its lower berths up to 2025. However, I failed to realize that stock dilution wouldn’t have as catastrophic an impact as I initially thought. Subsequent to that article,…
LukaTDB Introduction Since the turn of August, the stock of America’s largest RV retailer, Camping World Holdings, Inc. (NYSE:CWH), hasn’t been in a good way; admittedly, it’s not as though the broader markets or CHW’s peers from the consumer discretionary space have been shining lights during this period, but the level of drawdown seen at…
Дмитрий Ларичев Dear readers/followers, By now you know that my investing style is fairly conservative. I don’t try to time the market and I don’t invest in companies that trade at high valuations, regardless of how bright the future might seem. I stick to my approach of buying undervalued (mostly dividend-paying) companies in sectors which…
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…
luigi giordano In March, I did not like the smell of shares of International Flavors & Fragrances (NYSE:IFF). This came after IFF has been struggling since it announced a substantial deal to acquire a big chunk of the DuPont business. Growth has come to a complete standstill in the wake of the deal, while leverage…
halbergman Investment Thesis The cannabis industry is in its early stages, and selecting a clear winner amid the many contenders is a challenging feat. For those new to the sector’s nuances, this terrain might seem overwhelming. However, understanding a few key challenges and markers can significantly enhance your chances of placing a bet on a…