Market Updates
Eyeing opportunities with the “DuPont Factors” lens
The DuPont Factors illuminate the opportunity set.
The upside down
Mr. Market is a price taker today on liquidity grounds alone.
It is wise to view internal controls
It is wise to look for disclosures of material weaknesses.
Signal loss
Be mindful of the canaries and the opportunities to prevent signal loss.
A bird in the hand
Extreme risk/reward asymmetries are on display through the lens of “duration risk.”
Pavlov’s stocks
Stretched fundamentals collide with duration risk creating risk/reward asymmetries.
Mind your duration
Solid anchoring at the long end of the yield curve creates widespread risk/reward asymmetries.
The market is on a long and winding road
The economy remains in an inflationary contraction, a recession by any other name.
Time to turn back the clock?
In the torrent of information, we risk overlooking the very foundation upon which companies are built.
Of investment models and butterflies
What is priced in is the question as today’s valuation dispersions are backward-looking.
All sorts of possibilities in health care services
Recent M&A within the industry by Amazon, CVS, and UnitedHealth Group sends a strong signal.
The retail industry offers timely diversification
As the next upcycle nears, upward revisions could amplify the multiple expansion opportunity in retail.