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Nelson: The 16 Most Important Steps To Understand The Stock Market

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A previous version of this article appeared on our website July 21, 2013. Refreshed and updated throughout, as of July 2018. By Brian Nelson, CFA After earning my MBA at the University of Chicago Booth School of Business and training stock and credit analysts from large organizations over the past decade or so, I have heard just about every question (though I admit I am still surprised by many things and remain a very humble student of the markets). I’ve also spent years perfecting the discounted cash flow process for large research organizations such as Morningstar and studied under one of the most famed aggressive growth investors of all time, Richard Driehaus. My knowledge runs the gamut from value through … Read more

US Congress Is Getting Ready to Pass a Massive ~$2.2 Trillion Fiscal Stimulus Bill

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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

Dividend Increases/Decreases for the Week Ending May 12

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Below we provide a list of firms that raised/lowered their dividends during the week ending May 12. 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 The Brink’s (BCO): now $0.15 per share quarterly dividend, was $0.10. Buckeye Partners (BPL): now $1.25 per share quarterly dividend, was $1.2375. BWX Technologies (BWXT): now $0.11 per share quarterly dividend, was $0.09. Cabot (CBT): now $0.315 per share quarterly dividend, was $0.30. Canadian Pacific Railway (CP): now CAD 0.5625 per share quarterly dividend, was CAD 0.50. Clorox (CLX): now $0.84 per share quarterly dividend, was … Read more

Top Research and Ideas You May Have Missed

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Is Quant Value Giving Intrinsic Value Investors a Bad Name? Surely, you don’t believe Warren Buffett’s “style” is out of favor? By Brian Nelson, CFA I need to make sure that you’re aware of something very important. The media and perhaps many investment professionals define the concept of “value” as companies with low price-to-book (P/B) ratios, and the concept of “growth” as companies with high price-to-book ratios. This definition of “value” and “growth” and their corresponding returns have been magnified in writings throughout the media and across quantitative research, even in prestigious journals. Warren Buffett has been rallying against most quantitative applications and how “growth” and “value” are defined in popular media and quantitative research for decades.  Here’s one of the Oracle’s most … Read more

Dividend Increases/Decreases for the Week February 25

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Below we provide a list of firms that raised their dividends during the week ending February 25. 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 Aaron’s (AAN): now $0.1125 per share quarterly dividend, was $0.1000.           Agnico Eagle (AEM): now $0.40 per share quarterly dividend, was $0.35. Albemarle (ALB): now $0.395 per share quarterly dividend, was $0.390. Alexander & Baldwin (ALEX): now $0.19 per share quarterly dividend, was $0.18. Allison Transmission Holdings (ALSN): now $0.21 per share quarterly dividend, was $0.19. AMERISAFE (AMSF): now $0.31 per share quarterly dividend, was $0.29. Apple … Read more

Dividend Increases/Decreases for the Week May 20

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Below we provide a list of firms that raised their dividends during the week ending May 20. 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 $0.12 per share quarterly dividend, was $0.11. American Tower (AMT): now $1.43 per share quarterly dividend, was $1.40. AMES National (ATLO): now $0.27 per share quarterly dividend, was $0.26. AMMO, Inc. 8.75% PFD SER A (POWWP): now $0.559 per share quarterly dividend, was $0.547. Brigham Minerals (MNRL): now $0.60 per share quarterly dividend, was $0.45. Chubb (CB): now $0.83 per share … Read more

Dividend Increases/Decreases for the Week Ending May 10

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Below we provide a list of firms that raised their dividends during the week ending May 10. 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 A&W Revenue Royalties Income Fund (AWRRF): now CAD 0.154 per share monthly dividend, was CAD 0.147. Algonquin Power & Utilities (AQN): now $0.141 per share quarterly dividend, was $0.1282. ALPS Alerian Energy Infrastructure ETF (ENFR): now $0.28753 per share quarterly dividend, was $0.25892. Atlantica Yield (AY): now $0.39 per share quarterly dividend, was $0.37. Arbor Realty Trust (ABR): now $0.28 per share quarterly dividend, was $0.27. … Read more

ICYMI — Video: Will Hasty Policy Facilitate the Next Leg Down, or Do We Have It Coming Anyway?

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President of Investment Research and award-winning author of Value Trap: Theory of Universal Valuation Brian Nelson explains how US policymakers are stuck between a rock and a hard place, and how the market may be factoring in too high of a probability of a return to normalcy before 2021. This and more in the latest video report. Summary Make sure you review Value Trap on Amazon. Do so here. We think those that bought equities near the bottom of this swoon may be looking to take profits at present levels. The market is currently reflecting an 80%-85% probability of a return to normalcy before 2021, which we believe is too high at this time. Our main concern is that government … Read more

Dividend Increases/Decreases for the Week of May 3

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Below we provide a list of firms that raised their dividends during the week ending May 3. 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                          Aena S.M.E., S.A. (ANYYY): now $0.621 per share annual dividend, was $0.360. Aker BP ASA (AKRBY): now $0.174 per share quarterly dividend, was $0.173. American International Group (AIG): now $0.40 per share quarterly dividend, was $0.36. American Water Works (AWK): now $0.7650 per share quarterly dividend, was $0.7075. Apollo Global Management (APO): now $0.4625 per share quarterly dividend, was $0.4300. Apple Inc. (AAPL): now … Read more

How to Think About Corporate Tax Reform

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