Posts filed under “Analysts”
In his Wednesday edition of Cashin’s Comments, Art wrote the following:
Marinating With The Mavens – Last night, we had drinks and dinner and drinks with several Wall Street legends and luminaries. Among those present were David Rosenberg, Walter Murphy, Ray DeVoe and Richard Yamarone along with a few more friends and co-workers who shall remain nameless to protect the innocent.
Given the list above, you might guess that the majority of players leaned to the skeptical on the recovery and, in some cases, the rally. While that was so, opinions varied widely on a variety of topics like a possible bond bubble, the fate of the Euro, taxation burdens and government activism in the marketplace. Over the next few days, I’ll try to decipher my notes (wet napkins don’t you know). If successful, we’ll run through some of the topics. It was a great deal of fun.
As one of “the innocent,” I was both flattered and humbled to have sat with this small group of mavens, all of whom have forgotten more about the markets than I could ever hope to know. I only wish I’d stayed longer than I did and not departed prematurely.
Walter Murphy toiled alongside the legendary Bob Farrell for many, many years (I’m inclined to say 25). He now runs his own shop, Walter Murphy Global Advisors, LLC. Walter’s work is well worth checking out and, if you’re so inclined, subscribing to.
> Interesting website that compiles analyst commentary and media coverage on stocks: Street Pulse, finds comments by sell-side, industry and credit research analysts and melds those with comments from respected bloggers in an effort to answer the question “what do key opinion leaders have to say…” about a given company. Deal Pulse* compiles the latest…Read More
Bloomberg News is out with its latest monthly survey of economists’ forecasts and, according to those polled, the U.S. economy “will grow 3 percent this year and next, more than anticipated a month ago.” Good news, right? Well, maybe not. If you go back and look at how the experts have fared when forecasting the…Read More
I just read a research report from Dick Bove of Rochdale Securities that made me actually laugh out loud. It has the most irony impaired title I have ever read — the bold, all caps, title Bove penned was: WILL IGNORANCE, DECEIT, AND RAGE DESTROY THE FINANCIAL SYSTEM? Someone should tell the boy its too…Read More
Numerous Wall Street analysts, strategists, and economists over the years have managed to laden their commentary with references to their favorite bands, songs, sports teams, etc. It is all but unavoidable: Assume the average age of the senior echelons of most research departments are age 50-60; That leads us to a top level of management…Read More
Alcoa reported a Q4 2009 loss of $277 million loss, on lower sales and higher costs. Losses narrowed from a year ago when they were $1.2 billion dollars. Pro forma operating profits were 1 cent, missing analysts estimates of a 6 cent profit, and begging the question of HTF can you report a per share…Read More
Invictus is a bulge bracket asset manager with $100+ million AUM. He has no patience for money losers, hacks, partisans pretending to be financial analysts . . . this is the first in a series of critical looks at analysts, media, economists, financial TV. Feel free to share any thoughts in comments. Here’s Invictus: ~~~…Read More
I hereby invoke Bob Farrell’s Rule #9: When all the experts and forecasts agree — something else is going to happen. Let’s look at the forecasted year-end 2010 levels for the S&P500 and S&P500 earnings: Firm Strategist 2010 Close 2010 EPS Bank of America David Bianco 1275 73 Bank of Montreal Ben Joyce 71 Barclays…Read More
In today’s Baron’s, Mike Santoli discusses “A forecaster worth listening to sees more gains ahead.” He has penned missives such as “A Bear Is in Sight” and “Why This Rally Is Really Different” Santoli adds: This guy, though, is the one whose dispatches I saw as the very uncertain market trajectory took shape, illuminating the…Read More
> Interesting discussion on one of my favorite subjects — The Folly Of Forecasts — on NPR with Chicago/Austrian economist Russ Roberts, now at George Mason University. click here for audio > Previously: Apprenticed Investor: The Folly of Forecasting Barry Ritholtz TheStreet.com, June 07, 2005 http://www.thestreet.com/story/10226887/apprenticed-investor-the-folly-of-forecasting.html Source: The Folly Of Economic Forecasts NPR, December 7,…Read More