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How are These 19th Century Companies Doing Today?

Monday, July 7th, 2014 5416212814_0f9862728e_m

Trading stocks sometimes feels like a very modern phenomenon, so it’s easy to forget that some of the companies we’re investing in go back a century or more.

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

Wednesday, April 16th, 2014 BW-Final2

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

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Health Care Sector

Friday, April 11th, 2014 BW Final2

The Health Care sector ranks seventh out of the ten sectors as detailed in my Sector Rankings for ETFs and Mutual Funds report.

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Cheap Funds Dupe Investors – 4Q2013

Friday, November 1st, 2013 Screen shot 2014-01-10 at 11.47.32 AM

Fund holdings affect fund performance more than fees or past performance. A cheap fund is not necessarily a good fund.… Read more >>

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Best & Worst ETFs and Mutual Funds: All Cap Value Style

Thursday, July 18th, 2013 ACVF1

he All Cap Value style ranks sixth 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 two ETFs and 249 mutual funds in the All Cap Value style as of July 17, 2013.

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See How Diligence Paid In 2011

Monday, April 30th, 2012 dreamstimefree_6271799_handHoldingLightBulb

Everyone wants diligence. Few will ever turn it down. The problem is that diligence is expensive. New Constructs makes diligence cost-effective.

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Get Off the SBUX Bandwagon Before It Crashes

Monday, March 12th, 2012 Get Off the SBUX Bandwagon Before It Crashes

Be wary of advice from the bandwagon riders. They care more about getting more people in the bandwagon than anything else.
The Starbucks (SBUX) bandwagon is a big one. I am not on it.

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footnoted.org vs New Constructs = Hype vs Substance

Thursday, March 1st, 2012 footnoted.org vs New Constructs = Hype vs Substance

When I ran across the recent article “270,033 pages later, a chance to catch our breath…”, I could not help but admire footnoted.org’s marketing moxy.
The article provides a count of the number of pages of 10-K filings that have poured in during the real earnings season. It also highlight a couple of the largest filings. At first glance, it is easy for one to assume that all of the 270,033 pages were also analyzed.

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The Real Earnings Season Begins Now

Friday, February 17th, 2012 The Real Earnings Season Begins Now

Nearly all of the invest­ing world ignores 10-K sea­son. 10-Ks contain the most important financial information that companies provide all year.

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ETFs vs Mutual Funds: The Winner Is…

Tuesday, November 22nd, 2011 Eyes

The radically higher number of US equity mutual funds (4,700+) versus ETFs (380+) is not indicative of better stock selection from active management. On the contrary, the vast majority of actively-managed funds do not justify the higher fees they charge. They do not, in terms of stock selection and expected returns, add value versus passively managed benchmarks.

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Mainly Just Good in Health Care Sector ETFs

Wednesday, May 4th, 2011 Figure3

Our top picks for the Health Care sector ETFs are: Biotech HOLDRS (BBH) and Pharmaceutical HOLDRS (PPH). We also rate the investment merit of the top-9 health care sector ETFs.

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Buy Eli Lilly & Company (LLY) – Attractive and Safe Enough To Take Home To Mom

Tuesday, April 19th, 2011 Buy Eli Lilly & Company (LLY) – Attractive and Safe Enough To Take Home To Mom

The risk/reward of this stock is quite compelling. Downside risk is low as the valuation already implies a permanent 54% decline in profits. How much worse can the valuation get? Upside reward potential is strong as the stock has to go over $77/share to trade at a value that implies the company’s profits will experience a 0% decline, still a no-growth scenario.

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