How many P/E ratios are there? Let me count the ways. As companies report for tax purposes (the real P/E). As trumped up by mainstream media (the pro-forma P/E also called operating earnings). As further trumped up by mainstream media (forward estimates, typically wildly off) based on pro-forma PE ratios. I am quite sure I…
Usually when you find a company that has raised its dividend every year for 16 years, has never cut the dividend and, in fact, has lifted the payout to shareholders in 52 of the past 64 quarters, that dividend is considered safe. But these days in the energy sector, you can’t assume “usually” still works….
Rayno Biopharmaceutical Portfolio Update- Biotechs with Upside Opportunity Caution No Rush to “Load Up” in a Bear Market Since Mid-January all of our previous portfolios were placed on hold and we recommended four new positions as long term holds. Here are initial prices and the current performance: Abbvie (ABBV) Started at $56.49 now at $56.96 Bluebird bio…
During the session on Thursday, it’s likely that we will have a little bit of volatility when it comes to Great Britain due to the fact that we have GDP numbers coming out, but beyond that there is not much in the way to move the markets due to the fact that we have the…
The typical buy the rumor sell the news trading day in the oil market. The RBOB and HO product contracts along with Brent contract expire tomorrow, watch for spikes at the close. This Friday is loaded with economic reports including the Employment Report and the Baker Hughes Rig Report where we saw a drop of…
With stocks up and treasuries down, there were a couple of interesting contrary trades today in my view. For one, oil prices at the front end of the futures curve did not participate and have been down since the last FOMC non-decision. That may suggest funding and financing, as the overall curve steepened slightly where…
“I think that what we need to do is pretty clear. If one views the current version of the Democratic establishment as a different kind of evil rather than the lesser of two evils, one has to withhold support and votes regardless of the consequences. For me, it will start by not voting for Hillary. Then perhaps it would…
In the words of the chief investment officer of investment advisor firm Richard Bernstein Advisors, “People are paying a lot to get the dividend” and “To think it’s safe is naive.” Intriguing and cautionary at the same time, it again shifts the focus to the ever-enticing concept of dividend investment. In recent times, stock markets…
“Just one more wafer-thin mint of monetary-easing?” Before we start, a reminder… This was the greatest quarterly comeback in the history of stocks… Because fundamentals… So with that said, stocks remain the big winner post-Yellen as all the gains for bonds, bullion, and black gold are erased… Because all that matters is a green close…
A new PEW study on Household Incomes and Expenditures goes a long ways towards explaining why economists who expected a big jump in consumer spending based on falling gasoline prices were dead wrong. The study shows that although expenditures recovered from the downturn, income did not. Also, low-income families spent a far greater share of their income…
