The Right Way to Value Growth Stocks: Part 3
In part 2 of this series I focused on how to value slow and moderately growing businesses. In this article, Part 3, I will shift my focus on how to value faster growing companies (growth stocks).
Advisors and Clients Walking past Each Other on Sustainable Investment
Did you know that more than $12 trillion in assets under management are engaged in one or more strategies of sustainable investment in the United States? This comprises more than 25 percent of the professional managed assets across the country and is a 38 percent growth from 2016 figures.
The Fund That Isn’t Following the ESG/SRI Herd
In the U.S., between one quarter and one third of all assets managed are done so with an ESG or SRI mandate. Outside the U.S., that percentage is even higher. The Vitium Global Fund, formerly the Vice Fund, buys what most ESG/SRI investors scorn, stocks in the tobacco, alcoholic beverage, gaming and aerospace/defense industries.
2020 Global Market Outlook: Cycle, Interrupted
Central bank easing and the cooling China-U.S. trade war have set the scene for a global economic rebound in 2020. Our forecast pushes the risk of recession into late 2021, giving equity markets modest upside potential for 2020.
Supercharge Your Gold Position With Precious Metal Royalty Companies
One of the best ways to “supercharge” your gold position is with precious metal royalty and streaming companies. Think Franco-Nevada, Wheaton Precious Metals, Royal Gold and others.
The Fund That Isn’t Following the ESG/SRI Herd
In the U.S., between one quarter and one third of all assets are managed with an ESG/SRI mandate. Outside the U.S., that percentage is even higher. So I am going to explore what must be an unpopular topic – investing in so-called “sin” stocks. I am talking with the co-managers of the Vitium Global Fund – formerly the Vice Fund. That fund buys what most ESG/SRI investors scorn: stocks in the tobacco, alcoholic beverage, gaming and aerospace/defense industries.
Plausible Performance: Have Smart Beta Return Claims Jumped the Shark?
To get the attention of smart beta investors in a crowded marketplace, some smart beta providers are laying claim to performance that appears implausible. So what is plausible? We look at historical live performance to answer this important question.
Market Cap to GDP: An Updated Look at the Buffett Valuation Indicator
With the Q3 GDP Second Estimate and the November close data, we now have an updated look at the popular "Buffett Indicator" -- the ratio of corporate equities to GDP. The current reading is 144.6%, up from 142.1% the previous quarter.
When to Buy or When to Sell A Stock: Part 1
As a seasoned and grizzled veteran of the financial services industry for now going on 50 years, the most commonly asked questions I have received, and still do to this day, are: when to buy and when to sell a stock?
Need-to-Know Numbers You Might Have Missed This Week
As Thanksgiving comes to an end, and the busy holiday shopping season begins, here are some need-to-know numbers you may have missed from this past week.
Moving Averages: November Month-End Update
Valid until the market close on December 31, 2019.
The S&P 500 closed November with a monthly gain of 3.40% after a gain of 2.04% in October. All three S&P 500 MAs are signaling "invested" and four of five Ivy Portfolio ETFs — Vanguard Total Stock Market ETF (VTI), Vanguard REIT Index ETF (VNQ), Vanguard FTSE All-World ETF (VEU), and iShares Barclay 7-10 Year Treasury (IEF) — are signaling "invested".
The Difference Between Investing & Speculation (10-Investing Rules)
In today’s market the majority of investors are simply chasing performance. However, why would you NOT expect this to be the case when financial advisers, the mainstream media, and WallStreet continually press the idea that investors “must beat” some random benchmark index from one year to the next.
The Next Generation of ESG/SRI Investing
Our topic today is ESG/SRI investing – one of the most important themes in the asset management industry over the last several years. One of the questions I will explore is whether the importance, history and culture of ESG at the asset manager firm level is more important than individual strategies. Indeed, greenwashing has become a serious issue, as advisors and asset managers need to understand which companies are making a genuine effort to implement meaningful ESG/SRI policies, and which ones have succeeded in putting a positive PR spin on their efforts.
Weighing the Week Ahead: All Eyes on Black Friday
The economic calendar is loaded with data and we have a holiday-shortened week. In some circumstances the many economic reports and the Washington stories would dominate. This week the market and economic context suggests a different theme.