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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

Jul 17, 2019
In the News: Second-Quarter Earnings Season Begins
Second-quarter earnings season is upon us. The markets aren’t expecting much growth. Core industrial names may not fare well, but thus far, big pharma is solid. We’re not making any changes to the newsletter portfolios.
Jul 17, 2019
Wells Fargo Showing Damage from Scandals
Image Source: Mike Mozart. Wells might be leaking core deposits as compared to peers and paying up for interest earning deposits.
Jul 16, 2019
J.P. Morgan’s Net Interest Margins to Come Under Pressure
Image Source: Trending Topics 2019. It remains very clear that the Consumer & Community Banking segment is the crown jewel of JPMorgan's business with an ROE of 31% in the quarter with the Asset & Wealth Management not far behind at 27% ROE in the quarter.
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.
Jul 1, 2019
New Highs! The December Call Has Been Well-Rewarded
"The less the prudence with which others conduct their affairs, the greater the prudence with which we must conduct our own." - Warren Buffett (2018)
Jun 16, 2019
Valuentum's June Best Ideas Newsletter
Image: Page 49, June edition of American Library Association Booklist."I hope that my book Value Trap: Theory of Universal Valuation marks a turning point in the financial research industry. To you and me, 1) looking forward, 2) understanding that stock values are based on future expectations, and 3) calculating intrinsic value is simply par for the course. If other investors are not doing this, it should be no surprise that they are failing miserably. 90% underperformance! I hope my book serves as a wake up call for readers to demand forward-looking analysis and research that calculates a best fair value estimate." -- Brian Nelson, CFA
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.
Apr 23, 2019
Morgan Stanley’s Lumpy Performance Calls Into Question Durability of Earnings Stream
Image Source: reynermedia. If Morgan Stanley’s activities can collapse that quickly, as they did during the fourth-quarter of 2018 when the market swooned, it really calls into question the durability of the earnings stream for all of the global players.
Apr 20, 2019
Taking a Fresh Look at Goldman Sachs
Image Source: Goldman Sachs 1Q19 Earnings Slides. After taking a fresh look at our valuation assumptions in the context that Goldman hasn’t really proven that it can earn above the cost of capital through the economic cycle, we have lowered our fair value estimate to $200 per share.
Apr 18, 2019
Raising Our Fair Value Estimate for Bank of America
Image shown: Valuentum's fair value estimates for its banks and money center coverage. We've raised our fair value estimate of Bank of America.The only thing not to like with Bank of America is that banks are cyclical and the economy is overdue for a downturn. Everything else is going right at Bank of America. We have raised our fair value estimate for Bank of America to $35 per share.


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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.