Update on Valuentum's Research -- No PPP for Us
publication date: Jun 30, 2020
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author/source: Brian Nelson, CFA
Image Shown: The NASDAQ 100 (NDX) remains resilient, and we remain bullish on the equity markets for the long run.
---Hi everybody!
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Trust you are doing well.
---First of all, I wanted to let you know that our small publishing firm is not taking any of the Payment Protection Program (PPP) money. We're not interested in any bailouts, and we want our customers to know that if we're going to be highlighting investment ideas on our website, that we know how to run a business and to anticipate the downside.
---Many an RIA has taken out PPP money, and frankly, it just doesn't sit well with me. Financial advisors should have been prepared, just like they prepare for their clients' financial future. It's just another one of those things in this business (like large fees on index funds) that just doesn't add up. In any case, we're not looking back, and we thank you for your support.
---What more can I say at this time? We called the crash, we called the bottom, and we've been bullish and "fully-invested" for most of this huge bull market run. Most of the ideas in the simulated newsletter portfolios are outperforming, and as we've noted many a time before, we're bullish on three broad areas to keep things simple: big-cap tech, large-cap growth and the NASDAQ.
---None of this should be new to members. We've been pounding the table on this for some time, "ICYMI--Stay Optimistic. Stay Bullish. I Am." I've also been pounding the table on the merits of enterprise valuation and The Theory of Universal Valuation. The COVID-19 pandemic has all but shown it's not the economy, or next quarter's earnings, or last year's book-to-market ratio that drives market prices and returns; it's enterprise valuation.
---On that note, I have been working night and day on the second edition of Value Trap, which I hope to make available next month. If you've read the first edition and would like to submit a book blurb for the second, just send us an email. Of note, I haven't yet looked at any of the survey responses, but I wanted to thank you in advance for participating. I can't begin to tell you how much I appreciate it.
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With all this said, we'll have the July edition of the Dividend Growth Newsletter and the High Yield Dividend Newsletter coming out tomorrow, July 1. The July edition of the Exclusive publication will be pushed back to July 11 due to the July 4 holiday. The annual Exclusive call will be Friday, July 31. The quarterly publications will be released Saturday, July 18. All told, our research has been doing great, and I hope you've capitalized on it.
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We'll have more to say soon!
---Thank you,
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Brian Nelson, CFA
President, Investment Research
Valuentum Securities, Inc.
brian@valuentum.com
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Valuentum members have access to our 16-page stock reports, Valuentum Buying Index ratings, Dividend Cushion ratios, fair value estimates and ranges, dividend reports and more. Not a member? Subscribe today. The first 14 days are free.
Brian Nelson owns shares in SPY and SCHG. Some of the other securities written about in this article may be included in Valuentum's simulated newsletter portfolios. Contact Valuentum for more information about its editorial policies.
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