Monday Morning Research Notes – February 22, 2016
This week we feature a pipeline company with a 9.2% dividend yield and 42% upside to our target price.
This week we feature a pipeline company with a 9.2% dividend yield and 42% upside to our target price.
Nearly 90 million Americans are out of the labor force. The reason why so many have left has been the subject of intense debate on Wall Street among investors, and in Washington among policy-makers. On Wednesday, the Bureau of Labor Statistics shed some light on this issue, but effectively split the difference on the causes of so many Americans not…
According to Bloomberg’s Eric Balchunas, over the last 18 months investors have lost over $24 billion trying to call a bottom in oil. In a very rare phenomenon, the outstanding shares in USO (Oil price ETF) hit a NEW HIGH as the price of USO hit a NEW LOW. “This is remarkable and underlines the…
The US economy continued to grow at a slow but steady pace in the Third Quarter of 2015. Coming in at 2%, GDP slightly beat forecasts of 1.9% growth. This matches our firm’s internal forecast by Dr. Lewis Spellman, Macro-economist. “This continues to be a muddle through economy, with domestic strength slowed by weak economies overseas, especially…
‘You don’t tell the markets anything. You just implement policy — slowly and smoothly.” That was the communication policy of late Fed Chairman William McChesney Martin (1906-1998), as recalled by finance professor Lewis Spellman of the University of Texas at Austin. Spellman, who worked at the Fed during the Johnson administration, remembers Martin vividly and…