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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

Oct 4, 2019
Economic Commentary: Apple $225+, Brokers Tumble, Auto Sales Look Tired
Image: Shares of TD Ameritrade Holdings have been punished as online trading commissions go to zero. "Though all signs point to increased volatility, we maintain our view that we’re well-positioned in the newsletter portfolios, and the ideas highlighted in the Exclusive publication consider the backdrop economic conditions we closely monitor." -- Brian Nelson, CFA
Sep 16, 2019
Saudi Arabia Attacked, Oil Prices Shoot Higher
Disaster struck this weekend when several drones took out the Abqaiq oil processing facility and the massive onshore Khurais oil field in Saudi Arabia on Saturday, with WTI and Brent both surging on the news once trading resumed at the start of the week. We will be monitoring this situation very closely going forward. The pace at which Saudi Arabia can bring capacity back online will have an outsize impact on global oil markets going forward, as the world no longer has any spare capacity to turn to during times like these (when supply is severely curtailed). Geopolitical tensions are clearly growing and that could spill over into a war directly between Saudi Arabia and Iran, but for now there’s no signs of troops mobilizing for such an endeavor.
Sep 11, 2019
Economic Roundtable: “Value” Versus “Growth” Rotation
“This kind of trading activity could be setting the stage for a big quant fund blow up, if the kind of leverage it takes to move the markets to this magnitude was applied. All it may take is for the B/M “value” factor to continue to suffer in the coming 12-18 months--it’s possible we could see a few quant firms go belly up. My guess is that market participants are paying very close attention to this activity, and if they “smell blood,” things could get ugly.” – Brian Nelson, CFA
Aug 23, 2019
Aug 22, 2019
What’s on the Valuentum Team’s Mind?
Let’s get the Valuentum team’s thoughts on recent developments.
Aug 6, 2019
Oil Major Second-Quarter 2019 Earnings Roundup
Image Source: Exxon Mobil Corporation -- IR Presentation. Let’s look at the Oil Majors that have recently reported earnings. Global raw energy resource prices have plunged lower as concerns over the US-China trade war and the possibility a global synchronized slowdown in economic growth are beginning to emerge. We will be monitoring the situation closely going forward.
Jul 11, 2019
Valuentum Exclusive Yearly Round Up
"I want finance to learn from the past, the quantitative mistakes of yesteryear that brought the world economy to its knees. The misaligned incentives that created a massive bubble and subsequent housing market crash. The problems of leverage in yet another quant hedge fund Long Term Capital Management that caused panic in the late 1990s. Wall Street is not learning from history, and many are going wildly down the path of destruction. Don’t confuse indexing with a bull market. Pay attention to what you own. Stay diversified, and most of all, do your own due diligence." -- President of Investment Research, Brian Nelson, CFA
Jun 30, 2019
Chevron's Permian Opportunity, Outsize Dividend Yield
Image Source: Chevron Corporation -- IR Presentation. Large oil & gas companies like Chevron are often sought after for their nice yields and promising growth prospects; however, the space has been undergoing a medium/long-term bust since late-2014. Chevron earned a return on invested capital, excluding goodwill, that was lower than its estimated weighted-average cost of capital in 2018 (its ROIC ex-goodwill were negative in 2016 and 2017). We don’t expect that to change until fiscal 2020 at the earliest, under our baseline assumptions, but we do expect Chevron’s financial performance (and returns) to improve materially through the early-2020s. That isn’t enough to get use excited about Chevron’s shares and its nice yield, but we are monitoring the space at-large.
Mar 18, 2019
Why We're Staying Away from KLX Energy Services for Now
Image Source: KLX Energy ServicesKLX Energy Services posted tremendous top and bottom-line growth during fiscal 2018 and great margin expansion. That being said, KLX Energy Services was still free cash flow negative, and it carries a material net debt load. While an interesting company and one we will keep on our radar going forward, KLXE is a risky investment in a tough market that even the bigwigs are having trouble navigating. The risks are too great for us.
Oct 15, 2018
In the News: Sears Adds to Retail Bankruptcies, Leading Defense Company Formed, and the Political Nature of Crude Oil Prices
Sears officially files for bankruptcy, a top-ten global defense company is formed, and political tensions with Saudi Arabia have the potential to send crude oil prices higher.


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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.