Practical analysis for investment professionals

Drivers of Value

Why Loan Growth is Important and What it Says about Inflation and Interest Rates

David Schawel, CFA, discusses the importance of the actions taken by the Fed when contrasted with the activity of the banking system as a whole in regards to the most recent economic recovery.

Don’t Get Too Excited Just Yet

Eric Petroff, CFA, explains why you should refrain from getting too excited about positive economic news, because there is little to be optimistic about if you consider the likely path of capital markets from here.

An Hour with Mike Mayo: Part 1 (Podcast)

A conversation with Mike Mayo about how investors should analyze financial institutions, the present state of the industry, and the surprising tack he adopted to gain access to company management. Also discussed are some of the topics he raises in his book, such as the accountability of the banks, their governance structures, and the role that they have played in economic history.

Are Municipal Bonds Still a Safe Investment? (Podcast)

This podcast focuses on the recent market sell-off and volatility, the nature and threat of bankruptcy, focusing on specific trouble spots such as Central Falls, RI, and Stockton, CA, and about potential federal proposals to remove municipals’ tax exempt status.

Returns on Negative Enterprise Value Stocks: Money for Nothing?

Negative Enterprise Value stocks have offered attractive returns over the past 40 years and may be well worth a look.

Do Dividends Create Shareholder Value?

Berkshire Hathaway last paid a dividend to its shareholders in 1967, yet Warren Buffett extols the dividends the company receives. What gives?

Book Review: High-Profit IPO Strategies

A concise introduction to IPOs for the uninitiated, this book is also an excellent resource for finance professors wishing to supplement investment textbooks that touch only briefly on the IPO process, professionals at the outset of their careers who contemplate moving into IPO investing, and owners of new businesses.

An Interview with Carlos Doblado

Carlos Doblado is a prominent Spanish market technician. He is a partner at the advisory firm Ágora Asesores Financieros EAFI SL, manages the mutual fund BSG Prometeo FI, and is a regular presence in the financial media.

Gold’s Selloff a Bad Omen for Equity Markets

Filip Mardjokic, CFA, states that "the bulls remain firmly in control of the market because the Fed continues to control the money supply, and as long as it is injecting liquidity, the equity markets will remain the bond markets’ floodplain."

Can Investors Make Money in a Low-Growth Industrial Economy?

The easy money has been made. I am not referring to picking the market bottom reached on May 9, 2009. That would have been speculation, not investment…. READ MORE ›

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