More Than Camaradarie

Those who follow BCM know that I've been watching Russian equities for some time.  In the past, I've joked that Russia has more to offer than just stiff vodka and camaraderie -- but it's true.   For example, Russia has vast deposits of natural resources including coal, timber, minerals, and natural gas.  A little-appreciated fact … Continue reading More Than Camaradarie

Is it Time to Go Solar?

SolarCity is up by more than 535% since its IPO. Since the company is still reporting losses, it's easy to think that its stock is expensive. However, there are some unique challenges to understanding what SolarCity is worth. Here are two issues to consider when trying to value the stock. Reported earnings versus reality In 2008, … Continue reading Is it Time to Go Solar?

Last Yield Standing

For those living off a fixed income, the current interest environment is, to say the least, quite unsavory. Extending out to 30 years on the Treasury curve only fetches a paltry 3% (and a taxable 3% at that). This has interest-starved investors loading up on junk bonds and leveraging up bond portfolios (risk parity anyone?). … Continue reading Last Yield Standing

The Other HP

Most people probably think of  Hewlett-Packard when they hear "HP."  This is almost certainly the case for investors who have followed Hewlett-Packard's struggles.  However, I'm not writing about that HP, I'm writing about another HP that many people have never heard of.  Helmerich & Payne (HP) is a $4.9 billion oil and gas company based in the US.  It provides contract drilling … Continue reading The Other HP

Second Guessing

In fifth grade, I remember the "cool kids" at my school wore Guess jeans and a lot of hairspray (I wasn't one of them).  While hair spray has lost its popularity, Guess? Inc. has grown into a $2.4 billion dollar company that sells apparel in 90 countries around the world.  Last week, Guess reported earnings that missed analyst expectations and its stock price fell by more than 21%.  The negative … Continue reading Second Guessing

Fast Money

The first quarter was full throttle "risk-on" for U.S. equity markets.  The S&P 500 came out of the gates screeching and clocked more than 10% for the quarter.  This rally seems to have rekindled animal spirits, and now the strength of the U.S. economic recovery is the toast of the town.  From a macroeconomic perspective, a continued expansion would imply further equity market strength. … Continue reading Fast Money