Michael H/DigitalVision via Getty Images What a rollercoaster of a ride in the crypto world. On Friday and Saturday, the total crypto market cap fell close to -18% on geopolitical tensions between Iran and Israel. Excluding Bitcoin (BTC-USD) and Ethereum (ETH-USD), the total crypto market cap fell as much as -25% in these two days…
Kutay Tanir The Franklin FTSE Brazil ETF (NYSEARCA:FLBR) is designed to track the performance of the FTSE Brazil RIC Capped Index, providing exposure to Brazilian large- and mid-cap stocks. It has $161M in assets as of writing. It offers value, along with a fantastic yield profile. It also appears attractive versus a key competitor. However,…
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…
Aerial view of production and engineering facility of automotive company Magna Powertrain Photofex/iStock Editorial via Getty Images In our last coverage of Magna International (NYSE:MGA), (TSX:MG:CA) we had a bullish outlook. That outlook was tempered by the risks facing the company and we suggested that the best way to play this was via defensive covered…
Natali_Mis We previously covered Affirm (NASDAQ:NASDAQ:AFRM) in January 2024, downgrading the stock to a Hold, due to the overly optimistic rally by +175.9% since the October 2023 bottom. While the fintech continued to demonstrate profitable growth, we did not believe that the stock’s eye-watering premium was sustainable then. Combined with the elevated short interest, we…
creisinger The old behemoth that was General Electric (NYSE:GE) in the 90s and 2000s and that legendary CEO Jack Welch built is no more. Headed by CEO Larry Culp who took over a debt-ridden, bloated and inefficient entity in 2018, GE has completed a series of divestments and spin-offs to restructure itself, emerging as a…
da-kuk A few weeks ago, we used this space to write about China and India, the two largest countries in the world by population that both figure prominently into the global economy. If you recall from our commentary that week, India’s stock market has been going gangbusters while China’s has brought nothing but disappointment to…
Nikada Saratoga Investment Corp (NYSE:SAR) is a business development company or BDC with a rather conventional focus – i.e., investing and issuing loans to the lower end of the middle market companies that are already cash flow positive with annual sales between $8 and $250 million, and EBITDA north of $2 million. While this is…
BlackRock CEO Larry Fink has made bullish remarks about Bitcoin today on Fox Business, stating that their spot Bitcoin ETF, $IBIT, is experiencing unprecedented growth, making it the fastest-growing ETF ever. JUST IN: BlackRock CEO Larry Fink says their spot #Bitcoin ETF "is the fastest growing ETF in the history of ETFs." 🚀 pic.twitter.com/J6g7XrYWCU —…
The companies on this page reflect all of the portfolio companies, long and short, as of March 19, 2024, in respect of which (‘A’) Pershing Square or any Pershing Square Fund, as applicable, has designated a representative to the board, filed Schedule 13D, Form 4 or a similar non-US filing or has made a Hart-Scott…
uchar/E+ via Getty Images Increasingly unhealthy lifestyles are leading to a higher incidence of organ failure worldwide, and while organ transplantation is generally the preferred treatment for organ failure due to better outcomes and quality of life, organ supply is currently heavily constrained for a variety of reasons, leading to a waiting list that as…
PM Images The market continues to rally in 2024 as the S&P 500 is up 7.42%, and the Nasdaq has climbed 7.15% YTD. While the bears think the Nasdaq above 16,000 and the S&P above 5,000 are unsustainable, we could very well be in the early innings of a multi-year bull cycle. Corporate earnings continue…
Dilok Klaisataporn Crescent Capital (NASDAQ:CCAP) could be the right option for a dividend portfolio due to its potential to generate solid returns over the long term. Moreover, the BDC offers downside protection as its debt investment portfolio is substantially diversified with an average investment size of 0.5% and a high concentration on non-cyclical sectors. Moreover,…
primeimages In December last year, I issued a relatively bearish article on Barings BDC (NYSE:BBDC) despite the fact that it carries quite many fundamentally sound characteristics. There were three distinct aspects that underpinned my conservative stance on Barings: Unfavourable leverage. In the past 5 quarters, BBDC experienced a constant uptick in the leverage profile, while…
bjdlzx Equitrans Midstream (NYSE:ETRN) shareholders can now see why EQT (EQT) spun off the midstream company and then later sold the remaining shares. The Mountain Valley Pipeline proved to be a huge anchor to company improvements. Now, after everything this company has been through, EQT proposes to acquire Equitrans Midstream. The .3504 shares of EQT…
Darren415 Written by Nick Ackerman. Main Street Capital (NYSE:MAIN) recently announced its Q4 and full-year 2023 results. They delivered solid results and helped support why they are considered one of the best in the business development company (“BDC”) business. As an income-focused investment, they have been able to deliver not only a steady but also…
Sue Thatcher British online retailer and service provider Ocado (OTCPK:OCDGF) continues to be an innovative business, but sustained profitability looks as distant now as it has at any point since the firm’s 2010 listing. I most recently covered the name in my March 2021 “sell” piece Ocado: Results Demonstrate The Fundamental Problem In Its Business…
Darren415 When GrowGeneration (NASDAQ:GRWG) was much higher in early December, I suggested that investors should avoid the stock. I said then that I would “buy some closer to $2” when the stock was trading near $3. It is now 15% of the model portfolio I share with members of my investing group. I named it…
Violka08/iStock via Getty Images Bitcoin (BTC-USD) is back above $60k. Roughly seven weeks after spot ETF approvals in the United States, the coin has printed six consecutive monthly gains and a whopping 157% low to high return dating back to September 2023. Naturally, when Bitcoin rallies like this, stock market investors often look for equity-based…
D. Lentz Above: The Vegas downtown market BYD properties are doing well but have been disrupted by construction. That is mostly past now. The massive proliferation of data and constant hash and rehash of metrics and analysis that accompany the coverage of securities today compels savvy investors to extend their need for more diverse sources…
Gary Coronado/Los Angeles Times via Getty Images Summary Following my coverage of L’Oreal (OTCPK:LRLCF) last October, for which I recommended a buy rating as the business continued to grow robustly across its product range and operating regions, this post is to provide an update on my thoughts on the business and stock. I believe my…
Future Publishing/Future Publishing via Getty Images Since the initial publication of my investment thesis about PDD Holdings (NASDAQ:PDD), the stock has rallied almost 40%. After I wrote my investment thesis, PDD reported a blowout quarter for Q3 of 2023, which I wrote about after the Q3 earnings release. Since then, there have been some recent…
NurPhoto/NurPhoto via Getty Images PayPal Holdings, Inc. (NASDAQ:PYPL) continues to be a huge disappointment for investors. Following earnings last week, the stock declined as much as 11.5% the next trading day and although it recovered a bit on Friday, the stock is once again close to the multi-year lows of $50. Right now, PayPal is…
sefa ozel Shares of BorgWarner (NYSE:BWA) have fallen to fresh 52-week lows as the company has been hit by modest growth and losses at its EV business, a segment which was supposed to become its growth engine with a long runway for growth. This is highly disappointing as the company still has a long way…
David McNew My Thesis Exxon Mobil Corporation (NYSE:XOM) (NEOE:XOM:CA), one of the largest integrated oil and gas companies in the world, seems to me to be the best play among the O&G majors due to the combination of positive factors we can see from the latest quarterly results, as well as how cheaply XOM stock…
ryasick Horizon Technology Finance (NASDAQ:HRZN) is a well-run BDC that invests in a small number of core industries that are historically neglected by the banking community. The BDC runs a tech-focused investment strategy and has seen double-digit net investment income growth in the last year. Although I expect weaker NII growth in FY 2024, Horizon…
Hitoshi Nishimura/The Image Bank via Getty Images The GEO Group (NYSE:GEO), a rehabilitation facilities company, has seen its share of adversity of the past few years. The company had to switch its corporate structure from a REIT to a C Corp, and consequently eliminated its dividend. Additionally, GEO has had to endure regulatory challenges and…
Bloomberg/Bloomberg via Getty Images Since my last article about Yellow Cake (OTCQX:OTCQX:YLLXF) and Sprott Physical Uranium Trust (OTCPK:SRUUF) in late September of last year, the U3O8 vehicles are up around 40% on average. During the same time, the spot price of U3O8 moved roughly 50% to the upside. Once again, the metal outperformed the miners:…
24K-Production PepGen (NASDAQ:PEPG) is an innovative company using exon skipping therapies to address muscular dystrophy conditions. The burdens are high, although the disease is quite rare, but market sizes are not small. However, PEPG is early stage, with still a long ways to go in implementing their new technology to addressing the shortfalls with currently…
utah778 Introduction In uncertain times, the Central Securities Corporation (NYSE:CET) (the “Company“) provides, among other things, an investment portfolio (the “Portfolio“) that has stood the test of time, management continuity, a reasonable expense ratio, a discount to net asset value, and a rational, no frills approach to investment management. Morningstar rates the Company 5-Stars Overall…
Juanmonino Investment thesis Our current investment thesis is: U-Haul’s (NYSE:UHAL) diversified revenue stream and strong business model positions it perfectly as a long-term compounder. The company has a strong asset base that is growing rapidly, alongside a market-leading position in the UK. We suspect it can continue to grow at a similar rate to historically…
ljubaphoto Intro We wrote about VOXX International Corporation (NASDAQ:VOXX) back in February of 2023 when we reiterated the point that the consumer electronics manufacturer needed to remain profitable to keep investors interested. VOXX had just reported in January’2023 $2.3 million of operating profit for the third quarter of fiscal 2023 (Ended November 2022) so we…
Zolak The iShares 25+ Year Treasury STRIPS Bond ETF (BATS:GOVZ) provides investors exposure to Treasury STRIPS, with 25 or more years to maturity. STRIPS in its expanded form is “Separate Trading of Registered Interest and Principal of Securities”. Breaking it down further, STRIPS are created by separating all of the periodic coupon payments, as well…
metamorworks Investment Thesis Impinj (NASDAQ:PI) operates an innovative platform for wirelessly connecting billions of everyday items to the cloud, helping businesses track and analyze physical items to gain operational efficiencies. With leading market share in RAIN RFID technology, a large patent portfolio, and secular growth tailwinds from supply chain digitization, Impinj possesses exciting long-term potential….
zorazhuang Marathon Petroleum (NYSE:MPC), holds the distinction of operating the largest refining system in the U.S., boasting an oil refining capacity of 2.9 million barrels per day (MMBbl/d). It stands out as a dominant wholesaler of gasoline and distillates. The company’s operations encompass an integrated midstream business, facilitating the transportation, distribution, and marketing of oil…
baona/iStock via Getty Images By Andrew Prochnow For those exploring fresh investment and trading strategies for 2024, considering the long technology versus short financials pairs trade could be worthwhile. This approach may be particularly advantageous for individuals who are already positioned on the long side of the technology sector, either through individual stocks or ETFs….
Andrew Burton Context & Background Information China and Hang Seng stocks have been mired in deep malaise for much of 2023, and there have been few survivors of this year’s enduring bear market for China ADRs and H-Shares. At the root of the problem for most companies inside Hang Seng is the fact that the…
seraficus/E+ via Getty Images SiTime Corporation (NASDAQ:SITM), a supplier of semiconductor chips for precision timing, has been in consolidation mode after it saw its stock price collapse starting in late 2021. The stock hit bottom in October 2022, but SITM has yet to completely recover from the losses it suffered in the preceding months. The…
Wirestock/iStock via Getty Images Intro We wrote about Twin Disc, Incorporated (NASDAQ:TWIN) in May of 2023 after the company’s Q3 results where strong double-digit increases were reported in the quarter. Furthermore, the ability to generate free cash flow in that quarter was replicated in Q4 of fiscal 2023 and Q1 of fiscal 2024. Internally generated…
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…
jetcityimage Over the past two years, CVS Health Corporation (NYSE:CVS) investors have experienced ~33% top-to-trough drawdown. A raft of recent commentary from S.A. readers indicate a general aversion to the stock and disdain for the management team. On the other hand, I’ve owned CVS shares for about five years now. Sure, I would have preferred…
taikrixel Frontline (NYSE:FRO) (up 89% year-to-date) has vastly outperformed the S&P and is still my top long position going into 2024. The tanker market has been supported by a significant figure of oil in transit or barrels at sea since the end of 2021. As the buildup in land oil inventories after the 2020 Covid-19…
designer491 Intro Kadant Inc. (NYSE:KAI) is an industrial player providing products & services in its ‘Material Handling’, ‘Industrial Processing’ & ‘Flow Control’ segments. Typical products are vibratory equipment, ring debarkers & rotary & expansion joints to name but a few. The company came across our desk as covered Gates Industrial Corporation plc (GTES) recently which…
Jack Ma when asked where Alibaba stock price was going Andrew Burton On our previous coverage of Alibaba Group Holding Limited (NYSE:BABA), we emphasized that the stock was in value territory but unlikely to produce big returns. That stemmed from prioritizing macro over the micro and disregarding the potential spin-off benefit. We think that this…
baona By Francesco Pesole, FX Strategist; & Chris Turner, Global Head of Markets and Regional Head of Research for UK & CEE To challenge the dollar, currencies will need a lot of protection A typical financial market response to the start of a Federal Reserve easing cycle would be a bullish steepening of the US…
AUNG MYO HTWE/iStock via Getty Images Investment Overview: Zentalis Believes ‘Pipeline-In-A-Pill” Azenosertib Will Soon Make Grade In Ovarian Cancer Zentalis Pharmaceuticals, Inc. (NASDAQ:ZNTL) is a clinical-stage biotech headquartered in New York that was listed on the Nasdaq in April 2020, raising ~$165m via the issuance of ~9.2m shares priced at $18 per share. At the…
olm26250 FS KKR Capital (NYSE:FSK) is one of the largest business development companies or BDC by market cap. It last traded at a market cap of about $5.6B, recovering significantly from the October 2023 pullback. The BDC also delivered a solid third-quarter or FQ3 earnings release on November 6, benefiting from the market’s confidence in…
Justin Sullivan What To Expect From Home Depot’s Q3 Earnings The Home Depot, Inc. (NYSE:HD) is one of the bluest of blue chips on the market. It has a storied history as one of the great brands that rose to prominence in the latter half of the twentieth century, but it retains many benefits for…
andresr/E+ via Getty Images While most tech stocks have seen a renewed bull rally over the past week as interest rate fears have subsided, Zillow (NASDAQ:Z) has gone the opposite way. The leading online real estate database fell sharply after reporting Q3 results, bringing YTD gains to just over 10% – below the performance of…
M. Suhail Since the Time Warner merger in 2017, Charter (NASDAQ:CHTR) has grown revenues at 5% per year. This 5% growth was driven by internet revenue growing 9% annually, the video segment stagnating, and the wireline business declining, offsetting the strong internet performance. Coupled with the strong buyback program, that Charter employs, revenue per share…