Tom – ValueWalk Premium

Now Is A Good Time For The Dogs Of The Dow Strategy

The Dogs of the Dow have underperformed the Dow in 2019 and so far in 2020. This has set the stage for outperformance going forward. The yield structure of the Dow is now unusually skewed. To a greater degree than most other stocks, the "dogs" stocks make good...

Back To A 20th Century Stock Market

Based on our proprietary metric, the U.S. market has been selling at elevated valuations since the Persian Gulf War. Q1 2020 hedge fund letters, conferences and more StockSnap / Pixabay The market appears to be headed back to pre Persian Gulf valuations, of most of the 20th century. Individual stocks are already there,...

One Caution On Dogs Of The Dow Stocks

The "dogs of the Dow" strategy postulates that the ten highest-yielding stocks will outperform, or at least outreturn, the index as a whole. Q1 2020 hedge fund letters, conferences and more A good stress test for the most nearly analogous times is to examine what happened in 2008 and 2009. The "original"...

Spanish Bad Bank – 'SAREB' To Pay Steep Discount

Bad Spanish Bank: SAREB El Mundo has: The idea behind the bank is that distressed loans can be handed off to this bank after a haircut. It is expected to yield 15% on equity, due to severe haircuts. We are talking an average rebate of 63%. Building land 79.5%, buildings under construction...

LIBOR Fixing Investigation Appears to be Just Beginning

  The Guardian has: Quote: More than a dozen banks, including Royal Bank of Scotland Group plc (NYSE:RBS), are under investigation by regulators in the US, Europe and Asia for suspected rigging of the London interbank offered rate (Libor), which is used to price trillions of dollars of financial products. Royal Bank...

European Reactions To Obama's Criticism

The American criticism of Europe’s lack of stimulus packages to the economy is receiving anything but understanding in Europe. Angela Merkel quoted in Frankfurter Allgemeine Zeitung: A borrowed growth would bring us right back to the start of the crisis. Krugman’s recommendations invoke a scathing remark from blogger Uffe Ellemann-Jensen (former Danish...

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