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Earnings Magic Exposed
by Michael Lebowitz, 10/31/16

We expose the crafty game that Wall Street and corporate investor relations departments play to put a positive spin on earnings releases and give the impression that stock prices are cheap based on forward-looking earnings expectations.

Did the Equity Bull Market End Two Years Ago? Perception versus Reality
by Michael Lebowitz, 10/24/16

Currently, with equity markets sustaining near all-time highs, there is a common perception that the equity market is “running.” As a result, many investors harbor concern of getting left behind. The reality is that equity markets are not surging, or “running,” and have actually been consolidating for almost two years.

The Death of the Virtuous Cycle
by Michael Lebowitz, 6/14/16
The elegant virtuous cycle that propelled Western economies to prosperity has been quietly dismantled and replaced with an unproductive imitation. This new, un-virtuous cycle euthanizes discipline and prudence in exchange for the immediate gratification of debt-fueled consumption.

The Surprise Inside the Surprise Index
by Michael Lebowitz, 11/24/15
Appreciation for the multitude of messages provided by Citigroup’s Citi Surprise Index allows investors to stay a step ahead of the economic models that Wall Street, and -- by default -- most investors, rely heavily on to forecast market levels and securities prices.

Curve Ball - Is the Yield Curve Still a Dependable Signal?
by Michael Lebowitz, 11/2/15
Although traditional yield-curve analysis does not predict a recession, other equally persuasive indicators do.

Money Printing Lessons from the French Revolution
by Michael Lebowitz, 10/12/15
The events leading up the French Revolution are likely unfamiliar to most. Yet money printing and a debauched French currency played no small part in this history. The story is not a forecast for what may happen, but a powerful reminder of what has repeatedly happened in the past.

The Case for Gold to Protect Clients’ Wealth Shorting the Federal Reserve
by Michael Lebowitz, 10/5/15
This article presents the case for an asset that will help managers protect their clients and uphold their fiduciary duty owed to them. I’ll explain why gold is a powerful hedge that will protect your clients’ wealth, but first I’ll look at the history of trade and currencies and how gold evolved to become a global store of wealth.

A Different Perspective on Market Valuations
by Michael Lebowitz, 8/24/15
How fast must annual EPS grow over the next five years to normalize the current CAPE 10 with its historic average?

The Investment Opportunity from Share Buybacks
by Michael Lebowitz, 8/4/15
Clear-headed reason shows that unless one is an executive whose compensation is tied to metrics influenced by the effects of share buybacks, there are few instances that support this use of corporate resources. Indeed, shrewd investors can profit at the expense of companies that have aggressively bought back shares.

The Opportunity in Municipal Closed-End Funds The Value in the 9th Inning of the Great Bond Rally
by Michael Lebowitz, 7/21/15
For the last five years, bond market experts have unfailingly and wrongly predicted a rise in interest rates. If the current rate-hike fears prove unfounded again, municipal-backed closed-end funds (M-CEFs) is an asset subclass likely to perform well. Here are eight such funds to consider.

Innovation – Too Much, or Too Little of a Good Thing?
by Michael Lebowitz, 7/14/15
New innovations save us a lot of time and effort but, believe it or not, they do little to generate sustainable economic growth. Sustainable economic growth depends on productivity. Despite these new innovations, domestic productivity is flat lining.
Results 301–311 of 311 found.