GDP Expansion, S&P 2000, and Macro Bets

Portfolio allocations depend on fundamental value and macroeconomic conditions. While financial analysis can help analysts identify unique and undervalued assets from the bottom up, portfolio managers need to be aware of macroeconomic conditions that can impact...

How the Passive Investing Trend Pressures Money Managers

Professional money management involves two sides. On the one side, you have the need to provide risk-adjusted returns to clients whose objectives are diverse: growth, asset protection, and risk management being top of the list. On the other side, there is the need to...

Sears Holdings and the Dangers of Distressed Equity

In 2010, Sears Holdings (SHLD) soared over 250% from its low point a little over a year ago on speculation that a turnaround story was going to help the aging department store bounce back along the economy. Since then the stock has remained volatile but steadily...

Top-Line Growth for Retailers and the Macro Picture

2013 was a horrible year for many fashion retailers, despite the great year for stocks as a whole. For teen-focused brands like the Gap (GPS), American Apparel (APP), Aeropostale (ARO), Ambercrombie and Fitch (ANF) and American Eagle Outfitters (AEO), it was a year of...

The Trend Lasts Until It Stops: Why Daytrading is So Hard

We have known for a long time that daytraders do not make money. The select few that do are an exception and are handsomely rewarded for their unique talent. As for the rest of us—daytrading is full of risks and opportunities to lose money. There are theoretical...