Search Results
Results 9,101–9,150
of 10,168 found.
Don't Miss This Golden Cross in Resources
While investors have been focusing on the strengthening U.S. market, weve also kept our eyes on other improving indicators happening in resources, Europe, and emerging markets. These places may not be as widely popular, but we believe investors can benefit greatly from taking a view thats different from the ones observed by the majority.
Skepticism Still Abounds
by Bob Doll of Nuveen Asset Management,
U.S. equities were mixed last week as the markets were broadly unchanged. The October FOMC statement was a bit more hawkish than expected, causing concern that the recent delay in tapering may have been too aggressive. Other worries appear to be tail risks surrounding a possible Fed liquidity trap and accompanying asset bubbles. Economic data were mixed as markets struggle with the trade-offs between recovery and policy normalization.
Sovereign Ambitions to Develop Infrastructure Benefit Emerging Asia's Utilities Sector
The scope for infrastructure development in emerging Asia is tremendous, and the utilities sector has potential to contribute to and benefit from that growth. In general, we have found that state-owned utilities benefit from a range of operational advantages, partly as a result of the governments vested interest. PIMCOs bottom-up research allows us to analyze evolving company- and sector-specific factors within the greater macroeconomic picture to identify the best investment ideas in Asias utilities sector.
How I Explain Amazon's Stock Performance
by Chuck Carnevale of F.A.S.T. Graphs,
Amazon (AMZN) is a stock that seems to defy conventional wisdom about how a stock is, or should be, valued. Fundamental investors, like yours truly, recognize and respect the importance of the earnings and price relationship. Moreover, I will be so bold as to emphatically state that in the long run profitability (earnings) will be the primary determinant of a businesses fair value, any business. However, my bold statement is predicated on the longer run. In the short run it is often a truth that all bets are off.
Where Do Profits Go from Here? Up. Here's Why.
After record-setting earnings in the first two quarters of 2013, the S&P 500 is on track to hit another historic high in profits for 3Q13. If this occurs, the first three quarters of this year will have been the most profitable ever in the 56-year history of the S&P 500. Future earnings growth through margin expansion seems unlikely, as an improving labor market and higher interest rates will most likely squeeze margins. However, stable revenue growth, share buybacks and the additional use of debt financing should support modest earnings gains in the year ahead.
Third Quarter Letter
by Team of Grey Owl Capital Management,
Despite the recent shenanigans in Washington concerning funding the government and raising the debt ceiling, as well as the constant news coverage of the quantitative easing taper that the Federal Reserve may or may not begin, we are going to spare (at least for this quarter) both you and us another long discussion of these very real issues.
International Equity Commentary
by Team of Thomas White International,
International equity prices saw robust gains in September as the U.S. Federal Reserve unexpectedly refrained from reducing its bond purchase programs. In addition, the lowering of the U.S. growth forecast by the Fed lifted investor optimism that the quantitative easing is likely to be wound down at a very gradual pace.
Equities Reach All-Time HighsYet Again!
by Bob Doll of Nuveen Asset Management,
U.S. equities marked another all-time high last week as the S&P 500 increased 0.9%. (1) Global equities reached new cycle highs for the second week in a row. Many investors have concerns that the gains will not last since the world economy remains lackluster and the liquidity driving the current rally will eventually stop.
Only RED That You Have Seen in October...
by Blaine Rollins of 361 Capital,
The markets felt a bit different this week. While equities finished with another weekly gain, it was lead to new highs by a new and interesting cast of characters: the Dow Industrials, Dividend Stocks (like Utilities & Industrials), Germany, the United Kingdom, Gold & Silver, and Long Maturity Treasuries. While everyone under invested in risk is hoping for a pullback, the rest who are equal or overweight seem to be looking to buy on any pullback.
Why Deficits Don?t Matter
by Bob Veres,
Stephanie Kelton, Associate Professor of Economics at the University of Missouri/Kansas City, believes that the root of our deficit problems can be found in a fundamental misunderstanding ? shared by Democrats, Republicans and mainstream voters alike ? about the government?s balance sheet. She argues, plausibly, that the whole idea that we should control the deficit at all is costing our nation trillions of dollars in lost output. The result is lost income, savings, wealth and prosperity.
Is This the New Normal'?
by Sam Wardwell of Pioneer Investments,
Markets Settle into a New Normal
All sorts of economic data were released last week, but volatility has dropped: rightly or wrongly, market forecasts about the pace of quantitative easing (QE) and earnings growth in the U.S. appear to have coalesced around an outlook for slow growth with ongoing QE.
Crawling, Economic Impact of Stubbing Your Toe and Employment
by Gregg Bienstock of Lumesis,
I have to admit, I had a lot of trouble figuring out where to start this week -- unemployment from last week, post-shutdown observations, exports or sobering observations around expected growth of the US economy and expected implications. It was a Barrons article, Slowing to a Crawl that pushed me to address the latter first. Why? Much of what the article focuses on hit very close to home the impact of demographics and economic data on our economies.
Why Growth is Deep in the Heart of Texas
A recent TIME Magazine cover features an engaging collage of the 50 states reassembled to fit within the boundaries of Texas. With a growing number of solid-paying jobs, affordable housing, and low taxes, the Lone Star State is Americas Future, declares economist and writer Tyler Cowen.
The Grand Superstition
by John Hussman of Hussman Funds,
One thing that separates humans from animals is the ability to evaluate whether there is really any actual mechanistic link between cause and effect. When we stop looking for those links, and believe that one thing causes another because it just does we give up the benefits of human intelligence and exchange them for the reflexive impulses of lemmings, sheep, and pigeons.
For Maximum Total Return Go for Growth
by Chuck Carnevale of F.A.S.T. Graphs,
Not all investors are the same. Therefore, not all investors share the same goals and objectives. Consequently, there are numerous strategies and investing methods available to choose from. Moreover, it also goes without saying that the investment strategy thats right for me may not be right for you. For that reason, its imperative that each individual looks for the strategy that is right for their own individual goals, objectives, risk tolerances and status. By status, Im referring to how many years you have left before retirement.
Why U.S. Dollar Will Remain World's Reserve Currency, Despite Political Brinkmanship
by Tatjana Michel of Charles Schwab,
The U.S. dollar is not likely to lose its premier world reserve-currency status anytime soon. But continuing U.S. political brinkmanship could drive foreign countries into other currencies faster. With the market focus shifting to monetary policy and growth, we expect a Fed taper delay to give foreign currencies some time to recover.
Why Growth is Deep in the Heart of Texas
TIME Magazine?s cover this week features an engaging collage of the 50 states reassembled to fit within the boundaries of Texas. With a growing number of solid-paying jobs, affordable housing, and low taxes, ?the Lone Star State is America?s Future,? declares economist and writer Tyler Cowen.
Emerging Europe: Regional Economic Review - 3Q 2013
by Team of Thomas White International,
In its latest World Economic Outlook, the International Monetary Fund (IMF) further trimmed its forecast for global growth. The Washington-based lender said expansion will be driven more by developed economies as emerging markets grapple with slowing growth and a tighter global financial scenario as interest rates hint of trending higher in advanced economies such as the United States. However, a reading of economic tea leaves for the Euro-zone and economies such as Russia, Turkey, Poland, Hungary, and the Czech Republic offers room for optimism.
At 40 I'm Half Dead
So goes comedian Louis CKs bit about hitting middle age. Not old enough for anyone to care that youre old. Not young enough for anyone to be proud of you or impressed. And as we head into the backstretch of this economic cycle, that same cynicism and resignation seems to be settling right in. The glory days of riding the upward slope when almost everything was screamingly cheap in 2009 are behind us.
The Right Investment Vehicle
by Craig French of WBI Investments,
Remember your first car? You probably had some good times in it passing your drivers license exam, going to the prom, driving to your first job. You most likely have a different car now that youre older one more suited to your current lifestyle and needs. Ill bet your current car is a lot safer and more reliable than that first one. A car is a motor vehicle you use to reach your destination. Like a car, an investment portfolio is a vehicle you use to reach your clients investment goals.
How Many Monkeys Does it Take to Find a Successful Strategy?
Give a monkey enough darts and she will eventually hit the bulls-eye on a dartboard. We wouldn’t dare consider that monkey an expert dart thrower, but investment professionals have been using essentially that same logic to assert that their strategies ? often called “smart betas” ? will outperform the market. New research exposes the faulty mathematics upon which such claims are based.
A Green Light for Gold?
by Peter Schiff of Euro Pacific Capital,
It is rare that investors are given a road map. It is rarer still that the vast majority of those who get it are unable to understand the clear signs and directions it contains. When this happens the few who can actually read the map find themselves in an enviable position. Such is currently the case with gold and gold-related investments.
The Fiscal Follies, the Economy, and the Fed
by Scott Brown of Raymond James,
The deal reached last week does not remove uncertainty about the budget and debt ceiling. We could go through a similar crisis in three months. The hope is that lawmakers will learn from the recent experience and work together.
The Boys Are Back in Town
by Jeffrey Saut of Raymond James,
The boys are indeed back in town as Washington D.C. opened its doors for business as usual last week following a contentious debt ceiling debate and a 16-day shutdown of the government. This outcome had been anticipated in these letters for often-stated reasons, and just like when the fiscal cliff was averted, I now expect the media to turn its focus to the next Armageddon.
ProVise Bullets
Last month, a Wells Fargo/Gallup survey of non-retired investors showed just how lingering the hangover is from the financial crisis five years ago. Much like the Great Depression financially scared their great grandparents and grandparents, the Great Recession is impacting investors expectations about the future.
Inching Closer
How is the recent flooding in Colorado related to global economies and the financial crisis of 2008? Get a unique perspective from Colleen Denzler, CFA, Janus Global Head of Fixed Income Strategy, on how global economies are grappling to wean themselves off government support and grow their economies from within.
Is Your Portfolio a Five-Tool Player?
In baseball a 5-Tool Player is one who has high-level abilities in these areas: hitting for power, hitting for average, running, fielding and throwing. 5-Tool Players are a special breed, and teams covet them. I have identified 5 tools a premier investment approach should have in order to be successful in our arena, the achievement of client goals and growth of advisory practices.
Debt Limit Extended, Fed Policy in the Wings - What to Expect from the Markets
Last night Congress reached an agreement to raise the debt limit and end the 16-day shutdown. After all the acrimony and tense negotiations, the deal passed by a comfortable margin with 81-18 vote in the Senate and 285-144 in the House.
Global Brand Companies: Well Positioned to Deploy Incremental Capital at High Rates of Return
Achieving an optimal balance between growth and return on invested capital is critically important to value creation. Many discretionary product companies attain this equilibrium for a short period of time, but fickle and geographically divergent consumer preferences make it challenging to sustain over the long-term.
Politics Secondary to US Equity Fundamentals
Its easy to get caught up in the tense drama surrounding the government shutdown and the debt ceiling squabble between Congressional Republicans and Democrats, but Grant Bowers, portfolio manager of Franklin Growth Opportunities Fund, maintains that looking beyond the political posturing and focusing instead on US corporate fundamentals is his preferred approach. Read on for more from Bowers on how he views the issues at hand, and why, even in the face of another political showdown in the Capitol, he thinks the US still presents a strong investment case.
ProVise Bullets
Last month, a Wells Fargo/Gallup survey of non-retired investors showed just how lingering the hangover is from the financial crisis five years ago. Much like the Great Depression financially scared their great grandparents and grandparents, the Great Recession is impacting investors expectations about the future. 41% indicated they were concerned about another global crisis during their retirement years, and 28% were convinced they would have a lower standard of living during retirement.
Five Ways Robo-advisors Will Change the Way Advisors Work
by Raef Lee,
Even the name robo-advisor is derisive. It evokes an image that is uncaring, lacks humanity and is inflexible. But it is the term being used by advisors to describe a new breed of startups that directly connect tech-savvy investors with suites of analytic tools to create financial plans or investment portfolios. A name this disparaging makes us ask why advisors fear this new model of financial advice.
Equity Market Review & Outlook
Equities generally performed well across the board in the third quarter. The S&P 500 Indexs solid 5.24% return built on strong gains from earlier in the year. The Index has returned more than 19% through September, surpassing expectations at the start of the year. Slow but steady economic growth in the US, support from the Federal Reserve (the Fed), and more recently, signs of potentially better growth in Europe and Asia have been important positive catalysts.
Debt Ceiling Delusions
by Peter Schiff of Euro Pacific Capital,
The popular take on the current debt ceiling stand-off is that the Tea Party wing of the Republican Party has a delusional belief that it can hit the brakes on new debt creation without bringing on an economic catastrophe. While Republicans are indeed kidding themselves if they believe that their actions will not unleash deep economic turmoil, there are much deeper and more significant delusions on the other side of the aisle.
Economic and Market Overview: Third Quarter 2013
The economic environment in the third quarter was one of growth, albeit at a slower pace than most economists, and the Federal Reserve (?Fed?), believe can be self-?sustaining. The slow but steady gains the economy made were enough to buoy the stock market, but likely only because the Fed has seen it necessary to maintain its aggressive monetary policy. While employment gains were anemic during the quarter, the unemployment rate actually declined to 7.3%, largely due to a contraction in the labor force.
Equity ETF Flows Send Bullish Signals
by Minyi Chen of AdvisorShares,
U.S. Equity ETFs gave up $4.3 billion in the week ended October 1, reversing a $3.4 billion inflow in the previous week. This weeks outflows signal low demand for stocks, a bullish short-term indicator from a contrarian perspective.
Detente with Iran?
On September 28th, President Obama reportedly called Iranian President Rouhani to confer over American and Iranian relations. In addition, Irans nuclear program was discussed. This was a historic eventthe first documented call between a U.S. president and his counterpart in Iran in 35 years. The last time such a conversation occurred was when the Shah was in power.
Absolute Return Letter: Heads or tails?
Demographics captivate me. There are around 7.1 billion of us occupying planet earth today, going to 10 billion by 2050. I often think about how good old mother earth will cope with the additional 3 billion people we are projected to produce between now and 2050. More people translate into increased pressure on already scarce resources, but that is only part of the story and a story well covered by now.
Ted Williams, Ford F-150's, and Market Valuations
In late 2008 Lehman Brothers had just collapsed, AIG needed help from the US government and markets around the world were in a tailspin. Today, five short years later, we find it strange how the strength of the stock market defies a climate of declining earnings. With another quarter of corporate results behind us, equities continue to rally despite corporate earnings offering no material support, with many companies actually talking down their future growth prospects.
The Economy, the Fed, and Politics
It was a good quarter to invest in equities, and despite a down second quarter, overall a good year as well. The Dow was up 1.5%, the S&P 4.7% and the NASDAQ 10.8%. Year-to-date returns were very positive with the Dow up 15.5%, S&P up 17.9%, and NASDAQ up 24.9%. International equities were also positive for the quarter and year with the MSCI ACWI ex US up 9.4% and up 7.5% year-to-date. While emerging market equity indices were up 5% for the quarter they remained negative -6.4% for the year.
What Is The Correct Discount Rate To Use? Part 2B
by Chuck Carnevale of F.A.S.T. Graphs,
One of the most widely-accepted and utilized methods of valuing a business in todays world of modern finance is discounted cash flow (DCF) analysis. Obviously, in order to calculate valuation, practitioners must rely on mathematical formulas. However, the challenge with utilizing mathematical formulas to determine the net present value (NPV) of a future stream of income is in determining the proper inputs. Consequently, the accuracy of our result is subject to the principle garbage in garbage out.
Introducing the Tortoise Economy
All things considered, large U.S. companies that operate globally appear to be particularly attractive right now. Because many of these companies are generating significant portions of their sales outside the U.S., investors are effectively getting some international exposure with what I consider to be more-quantifiable risks.
Results 9,101–9,150
of 10,168 found.
