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Jobs Report
Today the August jobs report came out and was quite disappointing.  The U.S. only added 235,000 jobs, which was well short of expectations that were for over 700,000 new jobs.  Fears regarding the Delta variant likely had a role in this big miss.  Many businesses I’ve talked to have expressed immense frustration about a lack...
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Over the last month, we have begun to see financial stocks outperform the overall market.  If one was to ask why, most market participants would say that the perception that interest rate hikes are more likely to be forthcoming in 2016 is driving the stocks.  In a market where short-termism is the status quo, these...
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Today it was announced that TIAA was buying Everbank (EVER) for $19.50 per share.  Everbank is a very average bank with lower returns on equity than the big banks.  As of the 2nd quarter 2016, Everbank’s tangible book value per share was $13.24 meaning that TIAA is paying right around 1.5 times tangible book.  Because...
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    “Many that are fallen shall be redeemed, and many shall fall that are now in honor.” Horace 20 B.C. During the late 1990’s, tech stocks reached valuations that nobody could explain. While most people saw the dynamically changing marketplace and felt the extraordinary impact of the internet, traditional valuation metrics such as P/E...
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I’ve received many questions on really what the Brexit means. It is a rather confusing subject in many ways so I found a very good article that does a better job explaining it than I could personally. I wouldn’t pay too much consideration into the last few days trading since the results of the election...
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