USD based investors should be wary of Canadian banks. Canadian banks have taken a beating in 2015 and the near-term trend doesn’t look to be abating anytime soon. The average USD performance of a Canadian bank year-to-date is a ”correction” worthy -13%.
Read MoreCorelogic’s home price index came out this morning and showed that home prices across the board, including and excluding distressed sales, are at a 7-year high in the US. Single-family combined homes including distressed sales rose by 1.12% MoM in March. Excluding distressed sales, it rose by 1.45% MoM.
Read MoreFirst thing first, Keurig Green Mountain (ticker:GMCR) is not a Knowledge Leader, which means as an investment team we don’t spend a lot of time delving into the intricate details of the stock.
Read MoreOil tends to get all the headline but commodities in general continue to take a beating. The Reuters CRB Continuous Commodity Index is down nearly 24% over the past year. Our commodities diffusion index is at its lowest level since February 2009.
Read More
Academic research has shown that not all research and development (R&D) is created equal. In every industry, you have two sets of companies: Knowledge Leaders and Knowledge Followers. On the one hand, you have Knowledge Leaders which are companies that introduce new and innovative products. These type of company’s follow a strategic innovation strategy.
Read More
Upwardly revised projections for growth as well as inflation (details available here), combined with stronger than expected macro data in the Euro Zone… …and fears of a bubble in bonds, as yields extend into negative territory further out on the maturity spectrum… …have raised questions regarding the possibility that the ECB could decide to temper
Read More
The action in the US government bond market over the last several weeks has reminded us of a quote from one of our favorite books on investing, ”Reminiscences of a Stock Operator”. Those familiar with Reminiscences will recall several scenes in which young traders are gathered at a brokerage house exchanging ideas and contemplating every tick
Read More
The latest (February) construction spending report was released by the Census Bureau today. This report provides a ”monthly estimate of total dollar value construction done in the US” for both new structures and improvements to existing structures. It also covers both public and private projects.
Read More
It’s become a running theme, at least since last September, but the latest release of CPI numbers from around the world has brought our simple average World CPI proxy to its lowest level since the financial crisis. For the period ending in February, our World CPI proxy hit just 1.01% year-over-year.
Read MoreWith the continued outperformance of Asian (namely Japanese) stocks, we are surprised to still only be hearing about the merits of the long Europe trade.
Read More