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Fundamental data is updated weekly, as of the prior weekend. Please download the Full Report and Dividend Report for any changes.
Latest Valuentum Commentary

Jan 4, 2020
Valuentum Exclusive Success Rates Trump Even the Best Quant Hedge Funds
Image: President of Investment Research Brian Nelson, CFA. A new book, “The Man Who Solved the Market,” hit bookshelves last year, and thus far it has been a hit. The text goes into the story of quant hedge fund Renaissance Technologies and its hedge fund, the Medallion Fund, which has put up mammoth returns since inception.
Nov 25, 2019
Primer on the Banking Sector: Where Are We in the Cycle?
Image Source: GotCredit. We’ll talk about how banks make money, and the three most important costs of running a bank. The Great Financial Crisis revealed the tremendous risks of banking equities, and we’ll walk through these in depth. We’ll discuss how to conceptualize where we are in the banking cycle, and how that helps inform our valuation process for banks, which is different than traditional operating entities. The stress tests have helped many of the big banks from pursuing hazardous endeavors during the past decade, and we’ll go into how to think about the yield curve in the context of banks. Investors should expect ongoing digitization of banks and increased M&A as the competitive environment only intensifies. Three of our favorite banks are JPMorgan Chase, Bank of America, and US Bancorp, and we’ll be looking to consider adding any of these to the Best Ideas Newsletter portfolio or Dividend Growth Newsletter portfolio at the right price.
Oct 17, 2019
Citigroup Lags Peers in Key Metrics
Image Source: Matt Buck. Citigroup remains well capitalized with a 11.6% Common Equity Tier 1 Capital Ratio, but there isn’t room to lever up. Management has recently expressed less optimism about reaching its previously stated goal of reaching a 13.5% ROTCE in 2020, and the market consensus has them coming up short of the same goal. Operating leverage has helped the bank improve this metric by several percentage points in the past few years, but it appears that the cost-cutting road is getting increasingly difficult. Now more revenue dependent in improving its return metric, this leaves the bank also counting on the 11-year economic upcycle to continue. It is therefore unsurprising that this bank trades right near its tangible book value of $69.03 per share. Our fair value estimate remains $71 per share.
Oct 12, 2019
ICYMI: Interview with Valuentum's President Brian M. Nelson, CFA
Catch up with Valuentum's President Brian M. Nelson, CFA in a recent interview with dividend growth investor Arne Magnus Lorentzen Ulland of the blog stockles.
Aug 29, 2019
Where Are the Safe Havens?
"We believe that staying diversified as in holding a broad swath of ideas as in either the Best Ideas Newsletter portfolio or Dividend Growth Newsletter portfolio as the equity portion of one’s allocation makes a lot of sense in any environment...High yield dividend investing may become more and more popular in coming years as rates across the globe approach 0%, and the amount of negative-yielding debt proliferates." -- Brian Nelson, CFA
Aug 7, 2019
Join the Conversation on the Market Plunge
The Valuentum team shares its thoughts on the recent surge in volatility and collapse in interest rates amid a trade and currency war between two of the largest economies in the world, the US and China.
Jul 19, 2019
In the News: Second-Quarter Earnings Season Marches On
We like what we saw out of a few industrial names, including Honeywell, Danaher and Dover. We thought Taiwan Semi’s report was okay, and Philip Morris continues to navigate declining cigarette volumes. We include our thoughts on some of the mid-size banks.
Jul 19, 2019
Dividend Increases/Decreases for the Week Ending July 19
Let's take a look at companies that raised/lowered their dividend this week.
Jul 15, 2019
Citigroup Still Has A Lot to Prove
Image Source: Citigroup Quarterly Presentation. Citigroup still has a lot to prove to the markets judging by the skepticism baked into the stock price, which might be well warranted if it turns out we are late in this economic cycle.
Jun 4, 2019
Excerpt: Big Six Banks as a Yield Play?
An article excerpt from our monthly High Yield Dividend Newsletter. Order the High Yield Dividend Newsletter here.


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The High Yield Dividend Newsletter, Best Ideas Newsletter, Dividend Growth Newsletter, Nelson Exclusive publication, and any reports, articles and content found on this website are for information purposes only and should not be considered a solicitation to buy or sell any security. The sources of the data used on this website are believed by Valuentum to be reliable, but the data’s accuracy, completeness or interpretation cannot be guaranteed. Valuentum is not responsible for any errors or omissions or for results obtained from the use of its newsletters, reports, commentary, or publications and accepts no liability for how readers may choose to utilize the content. Valuentum is not a money manager, is not a registered investment advisor and does not offer brokerage or investment banking services. Valuentum, its employees, and affiliates may have long, short or derivative positions in the stock or stocks mentioned on this site.