Exclusive Analysis for the Discerning Investor
President of Investment Research Brian Nelson dives into questions about why an enterprise free cash flow model is not used for banking and insurance entities, and offers up the idea that we all might be market timers. What do you think? Running time: ~14 minutes.
We’re excited to usher in the New Year, and we hope you are, too!
President of Investment Research Brian Nelson talks about the non-zero probability of nuclear war, lofty equity market valuations, the impact of ultra-low interest rates, the Bitcoin phenomenon, the importance of paying attention to financial adviser fees, as well as the pitfalls when it comes to assigning styles to ETFs. Running time: ~11 minutes. Aerospace & Defense – Prime: BA, FLIR, GD, LLL, LMT, NOC, RTN Banks – Regional and Asset Management: AB, AINV, AMP, ARCC, BCH, BEN, BGCP, BKU, BLK, BMO, BNS, CM, FSIC, ISBC, KKR, LAZ, LM, MAIN, MTB, NABZY, NYB, OCN, PBCT, PFG, PSEC, RY, SBNY, SBSI, STT, TCAP, TD, VLY, WBK Banks & Money Centers: AXP, BAC, BBT, BK, C, DFS, FITB, GS, HBC, JPM, KEY, MS, NTRS, PNC, … Read more
Produced for SQ1.tv, this Bitcoin documentary looks at the history, the ideologies, and the conflict between the politics of the early-adopters and the VCs/entrepreneurs pushing to take Bitcoin mainstream. Source: SQ1.tv. Financial Tech Services: ACIW, EPAY, FDC, FIS, FISV, FLT, GPN, MA, MELI, PAY, PYPL, V, VNTV, VRSK, WEX, WU Banks – Regional and Asset Management: AB, AINV, AMP, ARCC, BCH, BEN, BGCP, BKU, BLK, BMO, BNS, CM, FSIC, ISBC, KKR, LAZ, LM, MAIN, MTB, NABZY, NYB, OCN, PBCT, PFG, PSEC, RY, SBNY, SBSI, STT, TCAP, TD, VLY, WBK Banks & Money Centers: AXP, BAC, BBT, BK, C, DFS, FITB, GS, HBC, JPM, KEY, MS, NTRS, PNC, RF, STI, TCB, USB, WFC
Image shown: Cryto-currencies are in vogue, and the most popular Bitcoin has “gone exponetial.” This is incredible. Bitcoin has caught the financial markets by storm, and the ranks of the greedy are driving its price ever higher. Financial Tech Services: ACIW, EPAY, FDC, FIS, FISV, FLT, GPN, MA, MELI, PAY, PYPL, V, VNTV, VRSK, WEX, WU Banks – Regional and Asset Management: AB, AINV, AMP, ARCC, BCH, BEN, BGCP, BKU, BLK, BMO, BNS, CM, FSIC, ISBC, KKR, LAZ, LM, MAIN, MTB, NABZY, NYB, OCN, PBCT, PFG, PSEC, RY, SBNY, SBSI, STT, TCAP, TD, VLY, WBK Banks & Money Centers: AXP, BAC, BBT, BK, C, DFS, FITB, GS, HBC, JPM, KEY, MS, NTRS, PNC, RF, STI, TCB, USB, WFC
–> Handout 1: Pitfalls of Distribution Yield Analysis (pdf) –> Handout 2: Linking P/DCF to Enterprise Free Cash Flow Valuation (pdf) Let’s talk about a controversial metric that is used in master limited partnership (MLP) reporting. Just how useful is it, and should it be allowed? By Brian Nelson, CFA It’s been a few years since the fallout in the prices of most master limited partnerships (AMLP), but to me, it still feels like yesterday. We continue to have many concerns about the longevity of the business models of MLPs, and we maintain our view that the operating structure will be challenged over the long haul. New equity and debt funding (issuance) continues to, in part, fuel the distributions of most MLPs, … Read more
Let’s first address how research in the financial industry is becoming more and more open to combining value and momentum considerations. We’ll also cover a few takeaways from the stress tests and some ‘strong’ talk from Fed Chair Janet Yellen. By Brian Nelson, CFA It was 1973, and a Princeton economist by the name of Burton Gordon Malkiel had just published A Random Walk Down Wall Street, a book that would turn into one of the most influential studies in support of the efficient markets hypothesis. The book would suggest that asset prices typically exhibit signs of a “random walk,” and as a result, an investor could not consistently outperform market averages in part due to powerful reversion-to-the-mean tendencies. Three … Read more
Below we provide a list of firms that raised their dividends during the week ending May 19. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week Advanced Drainage Systems (WMS): now $0.14 per share quarterly dividend, was $0.12. AMMO 8.75% PFD SER A (POWWP): now $0.559 per share quarterly dividend, was $0.547. Chubb (CB): now $0.86 per share quarterly dividend, was $0.83. Columbia Banking System (COLB): now $0.36 per share quarterly dividend, was $0.30. ENI (E): now $0.4719 per share dividend, was $0.4663. Farmers and Merchants Bancshares (FMFG): now $0.33 … Read more
Below we provide a list of firms that raised/lowered their dividends during the week ending May 5. The dividend reports of covered firms on this list will be updated shortly with the new information. To access our dividend reports use the ‘Symbol’ search box in our website header. Firms Raising Their Dividends This Week American Campus Communities (ACC): now $0.44 per share quarterly dividend, was $0.42. Ameriprise Financial (AMP): now $0.83 per share quarterly dividend, was $0.75. Apple (AAPL): now $0.63 per share quarterly dividend, was $0.57. Arbor Realty Trust (ABR): now $0.18 per share quarterly dividend, was $0.17. Artesian Resources (ARTNA): now $0.2317 per share quarterly dividend, was $0.2283. Barnes Group (B): now $0.14 per share quarterly dividend, was … Read more
Image Shown: US equities have started to recover some of their lost ground as the likelihood that the US Congress will pass a massive ~$2.2 trillion fiscal stimulus and emergency spending package, dubbed the CARES Act, has increased significantly over the past week as seen through the bounce in the SPDR S&P 500 ETF Trust (SPY). President Trump has clearly indicated that he intends to sign such a bill into law as soon as possible, with the US House of Representatives expected to take up the legislation this upcoming Friday morning on March 27. By Callum Turcan On March 25, the US Senate worked late into the night to secure a bipartisan compromise on a massive ~$2.2 trillion fiscal stimulus … Read more