Author Archive: Jeremy Parkinson
E It’s All About Earnings
In the first half of the year, the market rally came from FANG (Facebook, Amazon, Netflix, Google) with most other areas only experiencing moderate advances. That’s changed. All major market indexes, including mid-cap and small-cap indexes, reached all-time highs. Stronger still are international markets, with iShares Emerging Markets (EEM) up 24 percent this year! That’s […]
June 2017 Headline Existing Home Growth Slows
The headline existing home sales growth slowed with the authors saying “Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that’s straining their budget”. Our analysis of the unadjusted data agrees. Analyst Opinion of Existing […]
Our Obsession With Survey Data Is Ruining Economics
In a recent Bloomberg article, Noah Smith celebrates the increasing trend of empirical work in economics over the years. Purely theoretical papers are on the decline as a share of all published work. More and more economists are utilizing data to estimate the magnitude of various effects or to estimate specific parameters in theoretical models. Empirical work […]
Biotech ETFs Continue To Dominate Momentum Rankings
Biotech ETFs Dominate Rankings Again Biotech ETFs continue to dominate momentum rankings in our ETF rankings system. The latest weekly rankings are shown below as WkBk0. They represent closing prices as of Friday. The latest ranking is a non-trade day ranking. Other columns represent prior week rankings. Momentum Rankings as of July 21, 2017 The […]
A Lesson On Black-Box Investing: Kurt Lindner And The Lindner Dividend Fund
“When the facts change, I change my mind. What do you do madam?” – Winston Churchill, John Maynard Keynes, Paul Samuelson? The CFA Institute’s second quarter 2017 Financial Analysts Journal included a research article penned by Martijn Cremers, professor of finance at the University of Notre Dame, entitled “Active Share and the Three Pillars of […]
It’s All About Who You Know
YOU have just become the big winner of the latest reshuffle of White House personnel. No, this is not the result of your own Machiavellian skills in intrigue, backstabbing, and betrayal. You have ME to thanks for this development. Sometimes it seems that there is no corner on earth I haven’t visited, no event I didn’t know about […]
Illinois Tool Works Inc. Reports Highest Quarterly Income Total In Company History
IIlinois Tool Works Inc. (ITW), a manufacturer and seller of industrial products and equipment worldwide founded in 1912 and based in Glenview, Illinois posted a favorable Q2 fiscal report this morning as follows: Earnings/Share: UP 16% to $1.69 compared to the same period a year ago which included an EPS benefit of $0.03 per share related to a legal settlement. […]
Emerging Markets; Run Out Of Gas Again Here
Emerging Markets ETF (EEM) has received a good deal of positive press for its performance off the 2016 lows. No doubt it has done well, as it is up around 50% off the lows of last year, while the S&P is up nearly 30%. This 18-month rally has caused many to tout how well Emerging markets […]
‘Superfirms’ And ‘The Rise Of The Zombies’
It’s been clear for years that excessive and prolonged central bank accommodation has paradoxically served to create a disinflationary impulse in some sectors of the economy. Nowhere is this more readily apparent than in the US energy complex. Otherwise, insolvent production was allowed to effectively hibernate – as opposed to going out of business – during […]
E Major Indices Are Tracking Historical Patterns
Market Outlook With nearly a fifth of quarterly earnings results out, investors are divided on how early corporate reports are serving as an indicator of the overall health of the U.S. economy, and that could contribute to a volatile week as stocks linger near record highs. Earnings so far are confirming less-than-stellar economic data recently, […]
