We sold our Emerging Healthcare Viking Therapeutics Position at $69: The company’s phase 2 data was released showing much better than expected results of13% weight loss after just 13 weeks of treatment.
Read BlogThe market reacted positively to the NVDA earnings report, up about 2% on Thursday, and the S&P 500 closed the week up just roughly 1%. It surprised It surprised us that NVDA went up so much on the report...
Read BlogAs we have discussed, there are numerous reasons to be now cautious on the stock market: a potential recession in the second half of 2024 (that is our current view).
Read BlogThe market has some feel of Euphoria, not at all like the 1990s. When large companies like META go up 20% and ARM up 60% on earnings reports there is some clear exuberance.
Read BlogThe market set up is odd and therefore we believe it is prudent to think about asset allocation. Not to overcomplicate the discussion with political views, and geopolitical risks.
Read BlogThis is a very critical week for technology earnings, with AMD, GOOG and MSFT reporting on Tuesday after the close and then AMZN and APPL on Thursday. The top 6 technology stocks comprise 27.6% of the S&P 500...
Read BlogHigh Conviction Valuation Problem: The projected 12-month P/E on the S&P 500 is 19.9, above 20 we would consider this risky and bubble valuations.
Read BlogThe market is valued at 19.7x the 2024 earnings estimate of $243, which is at the outer bounds of the last 10 years when interest rates were much lower (adjusted for the negative impact of Covid on depressing earnings, which inflated the P/E).
Read BlogThe Big Market Issue is Changing from CPI to EPS: We get CPI on Thursday, and it is expected to be up 3.2% year over year. Goods inflation has come down while services has remained elevated due to higher labor cost.
Read BlogWe are looking for an opportunity to pick off certain securities and sectors on a dip. For now, we believe it is prudent to be cautious. The set up currently has too much risk to be aggressive.
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