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Meritocracy Capital Partners Inc.
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We Treat Our Clients' Money Like Our Very Own
We Treat Our Clients' Money Like Our Very Own

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🤔"If credit ratings were based on leverage alone, more than a quarter of the investment-grade universe would have a high-yield [junk bond] rating, the [Morgan Stanley] report said."
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I've never been a big fan of the price-to-sales ratio given it ignores capital structure (e.g. debt) but this is worth reading --> https://www.hussmanfunds.com/research/rsi171009/
VALUATION FRENZY

Fundamentals don't matter right now as evident by the blockchain and cryptocurrency frenzy. That is just a symptom though.

Overall, stock market valuation has since gone . . . read more here --> https://goo.gl/5TzsnT

#spx #blockchain #bitcoin #cryptocurrency #djia #ndx #tsx #cape #shiller #bubbles #qe #fed #ecb #boj #quantitativeeasing #longfin #fms #fundmanagersurvey #jpm #centralbanks #quantitativetightening #federalreserve
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VALUATION FRENZY

Fundamentals don't matter right now as evident by the blockchain and cryptocurrency frenzy. That is just a symptom though.

Overall, stock market valuation has since gone . . . read more here --> https://goo.gl/5TzsnT

#spx #blockchain #bitcoin #cryptocurrency #djia #ndx #tsx #cape #shiller #bubbles #qe #fed #ecb #boj #quantitativeeasing #longfin #fms #fundmanagersurvey #jpm #centralbanks #quantitativetightening #federalreserve
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BUSINESS CYCLE ENDING? 

When the CFO of Goldman Sachs was asked a question about the impact of a possible recession on a business segment, he appeared to have subtly acknowledged a recession was indeed approaching.

In fact, when you consider the economic activity of the 50 U.S. states as summarized in the graph below, then you will see that . . . read more here --> https://goo.gl/Dv4Crh

#goldmansachs #businesscycle #CFO #creditcycle #recession #spx #djia #nyse #Nasdaq #tsx #diffusionindex
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STOCK MARKET BUBBLES IN PERSPECTIVE  

Last week marked the 9th anniversary of the collapse of Lehman Brothers. It was one of the biggest milestones of the Global Financial Crisis that began approximately a year earlier in 2007. Corporate earnings were abnormally weak during the GFC. I bring that up because a much cited stock market valuation metric that has been prescient gauging past bubbles could be overstated due to those abnormally weak earnings.

Those of you concerned about the valuation of the U.S. stock market can see in the graph below that . . . read more here --> https://goo.gl/cFFt5F
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BIGGEST DEBT-FUELED STOCK MARKET EVER

You saw last week how Warren Buffet’s most preferred valuation metric shows the stock market has returned to an irrationally exuberant Tech Bubble level. You also saw from 4 months ago that consumer sentiment was at a very rare and high level consistent with two past stock market bubbles. Ironically, credit growth is in decline as a growing number of companies slash and eliminate their dividends, suggesting the end of the another business cycle.

If we are in a bubble, the question I have is: is this a dangerous one? Read more here --> https://goo.gl/omSEPq

#STOCKMARKET #spx #alangreenspan #bubble #techbubble #subprime #djia #nyse #warrenbuffett #Nasdaq
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SHOULD YOU & WARREN BUFFETT LOAD UP ON STOCKS?

I spoke to a medical doctor recently. He asked me if it was too late for him to get into some hot tech stocks that have been pushing up the stock market. I wasn’t too surprised to hear this as investor sentiment has been bullish.

My response was to tell him how I think Warren Buffett would look at this stock market. For example, Buffett values the stock market by . . . read more here --> https://goo.gl/PjBZC8

#warrenbuffett #spx #djia #Nasdaq #NYSE #stocks #valuation #techbubble
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DO CASH DIVIDENDS MATTER?

Investors want companies to show them the money. Or in this case, cash dividends. Although the stock market continues to grind up, more and more companies are not showing investors the money.  That is in clear decline, suggesting important, fundamental investment principles are being ignored. This won’t last though: it never does.

If you are becoming aware of this for the first time, then please read more here --> https://goo.gl/bTiZCO

#dividends #SPX #DJIA #NASDAQ #TSX #recession #buybacks #cash #DPS #growth #GFC
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WHY LOW UNEMPLOYMENT IS BAD FOR INVESTORS

U.S. nonfarm employers in May added a seasonally-adjusted 138,000 jobs. This was the 80th consecutive month of positive job gains. The unemployment rate also dropped to 4.3%, which was the lowest level in 16 years.

Strong employment, as evident by the long streak of job gains and low unemployment, may suggest to some investors that the economic future is bright. The opposite is more likely to be true.

If you click on the graph below, then you will see . . . read more here --> https://goo.gl/y2yjW5

#nfp #jobs #unemployment #labor #spx #djia #nasdaq #nyse #productivity #recession #benbernanke #potus #donaldtrump #babyboomers #wages #sentiment
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OIL INVESTORS NEED TO KNOW THIS

Investors in the oil & gas industry may be shaken by the sharp turn in the price of oil. OPEC, led by Saudi Arabia, and some non-OPEC countries, like Russia, agreed to cut production in November 2016. This led to the price of oil rebounding to $55 per barrel. The price of oil though has since fallen by as much as 20% as doubts linger about OPEC’s ability to balance supply with demand.

There is good reason for this doubt . . . read more here --> https://goo.gl/lhYIy1  #oil #opec #tsx #saudiarabia #russia #spx #djia #warrenbuffett #benjamingraham
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