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  • IT news
    IT news, Март, 8

    Below is a tool used by the Benzinga News Desk each trading day -- it's a look at everything happening in the market, in five minutes. Apply for daily AM access by emailing tip@benzinga.com.


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  • IT news
    IT news, Сентябрь, 8

    Since its IPO in June, Fitbit Inc (NYSE: FIT) has gained 7.4 percent. During that same time, Apple Inc. (NASDAQ: AAPL) is 15 percent lower. Katy Huberty at Morgan Stanley upgraded Fitbit to Overweight with a $58 price target. Huberty said that the outlook for wearable technologies is strong,…
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  • IT news
    IT news, Август, 27

    After the famed – yet infamous – Black Monday market selloff, indices have started to recuperate. The Dow Jones Industrial Average, S&P 500 and NASDAQ Composite all rose on Tuesday and Wednesday mornings, and they are all currently up more than 1 percent on Wednesday afternoon. But, why are they moving?

    Related Link: 10 Things You Should Know About Black Monday, Part Deux

    In an email sent to investors on Wednesday, Credit Suisse analysts provided 10 reasons for Wednesday’s price action.

    1. Equity Movement

    U.S. equities rose 2.5 percent on Wednesday morning; most say it was a relief rally (after six straight days of decline and an aggressive selloff into Tuesday night’s market close), but believe the strength has little meaning unless it holds up.

    2. Macro Numbers

    The market was also surging on strong macro numbers. Durables in general retrieved strong figures in July. Transportation, vehicles and parts orders were also up (by at least 4 percent), offsetting the fall in nondefense aircraft orders – down 6 percent.

    3. Bulls On The Street

    After Tuesday’s weakness, the Street is becoming considerably bullish, having issued several upgrades in the banks, semiconductors, consumer, Internet, energy, healthcare, industrials and REIT segments. Upgraded stocks include:

    Citizens Financial Group Inc (NYSE: CFG) Fifth Third Bancorp (NASDAQ: FITB) KeyCorp (NYSE: KEY) Zions Bancorporation (NASDAQ: ZION) BB&T Corporation (NYSE: BBT) Fidelity National Information Services (NYSE: FIS) Prosperity Bancshares, Inc. (NYSE: PB) Nike Inc (NYSE: NKE) Best Buy Co Inc (NYSE: BBY) Childrens Place Inc (NASDAQ: PLCE) Anheuser Busch Inbev SA (ADR) (NYSE: BUD) Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Amazon.com, Inc. (NASDAQ: AMZN) Ciena Corporation (NYSE: CIEN) National-Oilwell Varco, Inc. (NYSE: NOV) Marathon Petroleum Corp (NYSE: MPC) BHP Billiton Limited (ADR) (NYSE: BHP) Cooper Companies Inc (NYSE: COO) Dover Corp (NYSE: DOV) PACCAR Inc (NASDAQ: PCAR) Healthcare Realty Trust Inc (NYSE: HR) Healthcare Trust Of America Inc (NYSE: HTA), among others. 4. Energy Concerns

    Energy price action remains concerning. The sector continues to relatively underperform the market, despite bullish API and DOE data. This suggests that the market is still bearish on oil prices for the second half of the year and the year to come, and that deflationary worries are still impacting on commodities.

    Related Link: Credit Suisse Remains "On Guard" In U.S. Stocks, Despite Attractive Valuations

    5. Healthcare And Tech Outperformance

    Healthcare and tech stocks are outperforming on a New York Times article, which strongly suggested that the Obama administration recommends everyone receive access to Hep C treatment regardless of price.

    6. Monsanto And Syngenta AG

    Shares of Monsanto Company (NYSE: MON) are up more than 7 percent “as uncertainty of 'paying too much' is now removed, buybacks may possibly resume,” the email explained.

    On the other hand, Syngenta AG (ADR) (NYSE: SYT) is down more than 12 percent as Monsanto loses interest. This news is moving the agricultural sector as a whole.

    7. Afternoon Selloff

    Brokers are waiting for a selloff on Wednesday afternoon. “Yesterday’s bounce was aggressively sold post European close and today feels like people getting ahead of that as several brokers around the street have highlighted risk parity effects in a heightened volatility environment as a reason for recent late day selloffs.”

    8. High Volumes

    Volumes are still very high – up almost 50 percent when compared to their 20-day average.


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  • IT news
  • IT news
    IT news, Июль, 1

    Summary Don't be complacent with Greece situation. Housing is a bright spot in the U.S. There's always a place for gold in a portfolio. B…
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  • IT news
    IT news, Июнь, 29

    Summary Greece and payroll number will rule the market this week. Nike vs. Micron Technology. Lululemon is a long-term buy. Blackstone co…
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  • IT news
    IT news, Июнь, 26

    Summary Helen of Troy is cheap compared to its peers. Lesser known cyber security names. Technical analysis of Facebook, Wells Fargo and WhiteWave Foods.…
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  • IT news
    IT news, Июнь, 26

    Summary Successful investing requires an optimistic perspective. Pessimism often causes investors to miss out on great opportunities. However, optimism must be rational and realistic. Optimism works best with a long-term perspective and a disciplined assessment of valuation.
    Introduction

    I believe that one of the most important attributes that a successful investor must possess is optimism. Any serious student of financial history would recognize and acknowledge that economically speaking, things are good much more often than they are bad. In the general sense, common stocks have risen far more often than they have fallen. That is not to say that bad times never come, because they most assuredly do. However, even during bad times optimism has served investors better than pessimism. The rational optimist recognizes that bad times are only temporary, and better times are sure to follow.

    Consequently, the rational optimist sees the future opportunity that bad times provide and behaves accordingly by investing aggressively. In contrast, the more emotionally-driven pessimist sees only risk, which all too often provokes them to flee their investments and suffer unnecessary losses as a result. A paper loss is most often temporary, and only becomes real if you take it. This is especially true when the underlying fundamentals of the business support a higher valuation. When this is true, I contend there are only two rational choices. Hold onto your intrinsically more valuable assets recognizing that they will recover or if you have the wherewithal, aggressively add to your holdings and exploit other people's folly.

    Although my educational background is in economics and finance, I also completed a minor in psychology. How people behave and think has always been a fascination to me. However, I was more interested in finance, especially investing, which is why I made it my career. Nevertheless, my interest in psychology led me to interesting observations about how people think and behave. Many times in my life I have encountered people that possess mountains of wonderful blessings to be thankful for, but who also have a thimble full of problems or life issues. Invariably, or at least all too often, they will turn their backs on their mountains of blessings and obsess on the fewer problems they have.

    Moreover, in my personal experience there is a rather disturbing differentiation between pessimists and optimists that I have personally observed and often encountered. Optimists tend to be happier and usually kinder when dealing with others. In contrast, pessimists tend to be gloomy and often meaner when dealing with others. If you don't believe me, try presenting an optimistic article, as I often have, and see the responses you get.

    As a case in point on July 25, 2010, shortly after the Great Recession had ended, I posted an article titled "S&P 500: The Optimists Argument" and I opened it with the following:

    "The American Dream

    I believe we live in the greatest country in the world. Furthermore, I believe our country has the long-term track record to back up those beliefs. Therefore, I am very frustrated by the perma-pessimists, doom and gloomers and naysayers who are quick to write our country and its future prosperity off.

    To be sure, we are facing many severe economic challenges and problems. On the other hand, this is nothing new, as we have faced similar and even greater challenges many times in the past. Yet through it all, thanks mostly to our diverse and courageous people, we have not only persevered, we have prospered and grown as well.

    The American people have a legacy of optimism regarding the future which is more commonly known as "the American dream." This optimistic viewpoint has served as a beacon to the rest of the world leading many to immigrate into our great country in order to participate in our great social experiment based on free enterprise.

    Winston Churchill is credited with a quote that I believe sums up my point succinctly: "A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty." Yes, as I already stated, we are facing many difficulties, however, I remain confident that our people and our economy will rise to the challenge and, as a result, new opportunities will emerge out of these crises.

    There are numerous pundits, including the majority of mainstream media that seem to take great glee in writing frightening stories with extremely negative headlines that I believe serve no real purpose other than shaking people's confidence in our economy and their future."

    It's important to consider that those words were written in July 2010, more than a year after the Great Recession had ended. Later in this article I will provide a link to the above article and include a few comments from readers that it generated. I believe you will find they support my above statement about the perils of writing a positive article.

    Related Attributes of Successful Investors

    Additional attributes of successful investors that go hand-in-hand with optimism are embracing a long-term view and tempering optimism with realism. Although successful investors have a strong faith in our economic future, they are also smart enough to make realistic assessments about important fundamental metrics such as current valuation.

    Optimism and faith in our future are important and profitable attributes to have, but blind faith can lead to denial, and as such, can be financially dangerous. Similar to fear and greed, denial is an emotional response. In contrast, rational optimism is supported by analysis based on an intelligent assessment of the facts. Even more importantly, rational optimists conduct continuous monitoring and evaluation of their past behaviors and decisions in order to learn as much as they can from the past.

    Friends and Family Call Me a Perpetual Optimist

    All of my life, my closest friends and family have called me the perpetual optimist. In many cases it was meant as a criticism, but in others as a compliment. Personally, I have always considered it a compliment. In truth, I have always felt that my optimistic viewpoint about life and as it pertains to this article, about the economic strength of our country, was a blessing. However, as it specifically relates to investing, my optimistic viewpoint should also lead to profitable transactions. Fortunately for me, that has proven to be the case over the long run. All of my transactions have not been profitable, but on balance, my optimism, my long-term approach and my focus on valuation have served me quite well.

    The Proof Is In the Pudding

    To be crystal clear, the primary thesis behind this series of articles is that optimism is an important attribute for successful investing. A secondary thesis behind this series of articles is that successful investing implies taking a long-term view when investing in common stocks. By long term, I am referring to investing in and owning a business for a minimum of a normal business cycle of 3-5 years, but preferably longer. As Ben Graham so eloquently put it, "in the short run the market is a voting machine, but in the long run it's a weighing machine."

    In conjunction with my primary and secondary thesis referenced above, is the importance of monitoring and evaluating past decisions, because only then can one determine whether or not optimism is justified. As I was contemplating this, it occurred to me that I have been publishing articles on financial blogs such as Seeking Alpha since June 11, 2009. Therefore, that timeframe of almost exactly 6 years qualifies under my definition of long-term stated above. My, how time flies when you're having fun!

    Consequently, this provided a venue that would allow me to monitor and evaluate the validity of my optimism and long-term view. Thanks to the convenience and calculating power provided by F.A.S.T. Graphs I could offer my loyal readers a rather comprehensive perspective of how my work and positive attitude has panned out. Therefore, what follows is a wide ranging look back at my first year's worth of offerings where I presented fairly valued research candidates for readers to consider. In this Part 1, I will cover my recommendations through the end of 2009. In Part 2, I will complete the analysis with a review of recommendations made through June of 2010.

    A couple of caveats about this exercise are in order. What I am presenting here is a factual performance calculation based on the closing price of each company one day prior to the article's publication. However, since F.A.S.T. Graphs only reports monthly closing prices on the historical graphs, my calculations will be close but not perfectly accurate. In other words, my starting calculation will be presented on the last trading day of the month prior to or directly after the date the article was published. This gets me within two weeks of when the article was originally presented. However, these calculations are precise enough for the reader to receive a general perspective of the outcome of my recommended research candidates.

    Importantly, I only present articles where I covered a single company in my first year of writing. However, I also include a few examples where I wrote about the S&P 500 index as a proxy for the market. These articles are especially interesting because they highlight the pushback I received from strong reactions of readers that held a more pessimistic view of the market and our economy. On these S&P 500 index articles specifically, I will include a few comments that answer the question posed in the title of this article. In short, what has a pessimistic view of our market and economy cost them? The answer is vividly revealed by the S&P 500 articles and performance calculations below.

    At this point it's important for me to interject that this is not an exercise meant to brag about how smart I have been. As I previously stated, not all of my research candidate recommendations were profitable. I have included the good, the bad and the ugly. On the other hand, I believe this exercise supports the importance of optimism as it pertains to investing in common stocks. On balance, and as you will soon see, my optimistic recommendations worked out pretty well.

    To be fair, I will also add that I did not own all of these recommended research candidates, but I did own most of them. Furthermore, these calculations do not include specific times where I sold. In other words, this is not a precise presentation of portfolio performance; instead, it is simply reviewing the record produced by the individual research candidates based on the publication date of articles. Readers of these articles were free to either ignore, buy and/or sell any of these offerings based on their own needs or views.

    On the other hand, I do feel that readers of my work deserve to see what my research recommendations could have produced had they acted upon them. For the reader's convenience, the heading on each offering provides a link to the original article. But most importantly, I believe this exercise offers important lessons about the importance of only investing when fair valuation is manifest. The importance of valuation, over all other reasons, is why I offer this rather extensive review and look back at my work.

    As the reader reviews the following, I ask that they keep in mind that each of these articles was published in the years just after the Great Recession. This is important because it was clearly a time of rampant pessimism on many people's part.

    On each research candidate published in an article I will present two identical graphs. The first graph will be without the calculations applied because they cover up portions of the graph. I'm doing this because I want the reader to be able to clearly see valuation represented by the earnings and price relationship, as well as all the metrics produced in the FAST FACTS boxes to the right.

    My first article on Rockwell Collins published June 11, 2009

    The first article I ever published was on Rockwell Collins (NYSE:COL), a high-quality semi-cyclical dividend growth stock in the aerospace and defense industry. Even though earnings had weakened during the recession, I felt the valuation represented a compelling opportunity. Clearly this offering has worked out over the long run. However, short-term volatility between when I originally wrote the article and today should be recognized. Additionally, current high valuation has contributed to the results and should not go unnoticed.

    (click to enlarge)
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  • IT news
  • IT news