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Barron’s Says New Constructs Provides The Best Accounting Analysis

Monday, September 15th, 2014 Screen-shot-2014-04-26-at-11.03.21-AM-e1398697065376

Barron’s featured New Constructs for the eighth time this past weekend.

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All Cap Growth Style

Thursday, September 11th, 2014 BW Final-3rd

The All Cap Growth style ranks fourth out of the twelve fund styles as detailed in my Style Rankings for ETFs and Mutual Funds report.

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How To Find the Best Style ETFs

Thursday, May 1st, 2014 BW-Final2

Finding the best ETFs is an increasingly difficult task in a world with so many to choose from.

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Investment Style Rankings For ETFs & Mutual Funds

Tuesday, April 15th, 2014 BW-Final2

No fund style earns better than my Neutral rating going into 2Q14.

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Danger Zone: Workday (WDAY)

Monday, April 14th, 2014 553948209_fea77eb3aa_m

Momentum was the only thing supporting WDAY’s stock, and now that the momentum is gone, look out below.

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Information Technology Sector

Monday, April 14th, 2014 BW Final2

The Information Technology sector ranks third out of the ten sectors as detailed in my Sector Rankings for ETFs and Mutual Funds report.

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Large Cap Blend Style

Friday, January 31st, 2014 BW Final

The Large Cap Blend style ranks second out of the twelve fund styles as detailed in my Style Rankings for ETFs and Mutual Funds report. It gets my Neutral rating, which is based on aggregation of ratings of 35 ETFs and 886 mutual funds in the Large Cap Blend style as of January 27, 2014.

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Danger Zone 10/21/13: Tangoe (TNGO)

Monday, October 21st, 2013 Screen shot 2013-10-21 at 3.07.54 AM

TNGO checks all the marks of a Wall Street rollup scheme. Beating earnings estimates by a penny for share every quarter? Check. Constant acquisitions to keep the top line growing? Check. Shady management rewarding itself with massive stock options? Check.

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Unconsolidated Subsidiary Assets – Valuation Adjustment

Tuesday, September 24th, 2013 UnconsolidatedSubsidiaries_Fig1

Investors who ignore unconsolidated subsidiary assets are not getting a true picture of the cash available to be returned to shareholders. By adding unconsolidated subsidiary assets one can better understand the value of the stock to shareholders. Diligence pays.

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Non-Operating Unconsolidated Subsidiaries—Invested Capital Adjustment

Thursday, September 19th, 2013 UnconsolidatedSubsidiariesIC_Fig1

This report is one of a series on the adjustments we make to convert GAAP data to economic earnings. This report focuses on an adjustment we make to convert the reported balance sheet assets into invested capital.

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Accumulated Goodwill Amortization and Unrecorded Goodwill – NOPAT Adjustment

Monday, August 12th, 2013 GoodwillF1

Converting GAAP data into economic earnings should be part of every investor’s diligence process. Performing detailed analysis of footnotes and the MD&A is part of fulfilling fiduciary responsibilities.

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How to Find the Best Style ETFs

Friday, July 26th, 2013 htfbstyleetfs1

Finding the best ETFs is an increasingly difficult task in a world with so many to choose from.

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Accumulated Other Comprehensive Income Removed from Invested Capital – NOPAT Adjustment

Thursday, July 11th, 2013 OCI

Reported assets don’t tell the whole story of the capital invested in a business. Accounting rules provide numerous loopholes that companies can exploit to hide balance sheet issues and obscure the true amount of capital invested in a business.

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Best & Worst ETFs & Mutual Funds: Information Technology Sector

Thursday, July 11th, 2013 ITT1

The Information Technology sector ranks second out of the ten sectors as detailed in my Sector Rankings for ETFs and Mutual Funds report. It gets my Neutral rating, which is based on aggregation of ratings of 27 ETFs and 155 mutual funds in the Information Technology sector as of July 8, 2013.

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Danger Zone 6/3/2013: Perma-Bears and Bubble Alarmists

Monday, June 3rd, 2013 Danger Zone 6/3/2013: Perma-Bears and Bubble Alarmists

I am optimistic about the U.S. economy and I don’t believe we are in bubble. Too many investors and economists are looking at the economy the wrong way.

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How To Avoid the Worst Sector ETFs

Wednesday, May 22nd, 2013 WSRET1

Picking from the multitude of sector ETFs is a daunting task. In any given sector there may be as many as 43 different ETFs, and there are at least 171 ETFs across all sectors.

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Buy Accenture (ACN): Profiting Off Others’ Innovations

Thursday, May 16th, 2013 ACNG

No matter what time range I review, Accenture’s history attests to the quality of its management and business model.

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Rating Breakdown: Best & Worst ETFs & Mutual Funds by Style

Wednesday, May 1st, 2013 RST6

This report identifies the “best” ETFs and mutual funds based on the quality of their holdings and their costs.

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How To Find the Best Style ETFs

Thursday, March 14th, 2013 HTFBSET1

Finding the best ETFs is an increasingly difficult task in a world with so many to choose from. Only a careful analysis of an ETF’s holdings can allow investors to find the best ETFs for each style.

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Best & Worst ETFs & Mutual Funds: Information Technology Sector

Tuesday, January 29th, 2013 tech_Fig2

The Information Technology sector ranks third out of the ten sectors as detailed in my Sector Rankings for ETFs and Mutual Funds report. It gets my Neutral rating, which is based on aggregation of ratings of 27 ETFs and 157 mutual funds in the Information Technology sector as of January 24th, 2013.

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