July 30, 2024 - Just as motor oil lubricates an internal combustion engine, allowing a car to operate at its peak efficiency, interest rates grease the M&A machine, facilitating mergers and acquisitions as companies seek profit growth and expansion into new markets. However, the level of…
July 27, 2024 - In last month's edition of Top Stocks, we discussed the issue of narrow market leadership and the implications of the lack of stock market breadth. In the memo, we stated: "The lack of market breadth, explained by the significant multiple expansion of a…
June 25, 2024 - In last month's Merger Monitor, Hipster Antitrust, we discussed the FTC's aggressive approach to antitrust regulations. We concluded that its actions have thus far not resulted in a demonstrably higher deal termination rate nor longer average deal timelines (at least not yet). So far,…
June 23, 2024 - Stock market breadth, which analyzes the number of stocks advancing versus the number of stocks declining, is a time-tested stock market tool that helps gauge investor sentiment and parse emerging risks. Breadth indicators help investors understand the participation level of stocks in market movements…
May 28, 2024 - Hipster Antitrust is a novel antitrust philosophy that challenges the traditional consumer welfare standard, which has historically relied on rational price theory analysis. This contemporary antitrust movement seeks to go above and beyond by addressing broader societal concerns stemming from the potential…
May 25, 2024 - Spring showers bring May... disinflation? Given the above-average performance of equities year-to-date, holders of risk assets have pinned their hopes on the decline in the inflation rate to continue until it gradually reaches the Federal Reserve's 2% target. While the jury's still…
Want to learn about the investment strategies and techniques used by hedge fund managers to beat the market? Download Reminiscences of a Hedge Fund Operator by investor, Julian Klymochko