…Again, the decline is largely related to energy companies, whose revenues are down -32.7 percent. If energy stocks were excluded, revenue for the S&P 500 would jump to 1.8 percent,…
…refer to asset allocation (large versus small or US versus international), sector weights (corporate versus Treasury bonds), active versus passive, ‘top-down’ versus ‘bottom-up’ or even the metrics used to select…
…to pay their debts. The cost to insure $10 million in Glencore debt was $154,000 in January. Today, the same insurance costs $790,000 – a 412 percent jump. Although they…
…is likely to be one penny per share, almost nothing. However, if I want to do the same thing with Core-Mark Holding Company, a microcap company valued at $900 billion,…
…$82 billion. That’s a lot of companies with a lot of capital chasing deals. And, that’s the issue: whenever there is ‘too much’ capital floating around, bad deals get done….
…the result of something special (alpha) or could be explained by other, traditional factors (size, value, etc.). It turns out that the alpha was basically zero. Nothing. Nada. The big…
…by Exxon-Mobile from AAA to AA+. It’s a shame to see another company lose their prime rating – there are now only two companies that have an AAA-rating. Exxon had…
…(it’s not deflation, which is falling prices – it’s disinflation, which is a deceleration). I like this chart, but I don’t think in annualized terms like this, so I decided…
…gaining 20-fold. Bonds did better yet, growing by 90-fold. These investments had good results, but stocks won by a mile, gaining almost 3,000-fold. Over lunch this past weekend, I started…
…1.8 percent weight. Why is the weight in Goldman four times larger than Verizon’s? It’s not because they are bigger: Goldman has a market capitalization of $81.6 billion, which is…
