Is the stock market overvalued? That depends on who you ask. Nobel laureate Robert J. Shiller says "yes," while Jeremy Siegel says "no."
The irresistible demand of public opinion has forced universal male suffrage, women’s suffrage, prohibition (and its repeal), civil rights, and anti-tobacco laws. Sugar may be the next big crusade. Investors should keep this in mind when looking at food companies and pharmaceuticals.
“I know you are afraid and you should be afraid. I will invest you in products that will not stir up your fears." This sentiment is applied over and over again in the investment industry in one form or another, by the "Cult of Emotion."
Is there a way to reconcile current market bullishness with the populist wave spreading across the globe? Selections in the latest Weekend Reads tackle this question as well as the future of retail, the gig economy, Red Sox great Ted Williams, and more.
There is no road map for short sellers. This leaves them two options: Make their own mistakes, or learn from those who have already made them. Greg Blotnick, CFA, has found the latter approach is far cheaper.
Post-event analyst forecasts — those made subsequent to recent results or management guidance — are significantly more accurate than management forecasts, reports Jeremy Monk. And if analysts can provide insight into tangible measures of value, then we can presume they are also able to offer insight into other, less tangible measures of value, such as management quality and industry outlook.
Robert W. Wilson was a legendary philanthropist, but it is his adventures as a short seller that are really worth studying. Before famous bears like Jim Chanos took center stage, Wilson was regarded as one of Wall Street’s master short sellers. Greg Blotnick, CFA, explains what Wilson can teach today's investors.
For Andy Acker, CFA, portfolio manager of the Janus Global Life Sciences Fund, these are especially exciting times for investors in the health care sector. Opportunities abound, as significant advances in understanding the genetic causes of disease have resulted in a surge in new and more effective treatments. At the same time, risks remain and a disciplined approach to stock selection and portfolio construction is imperative for success.
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