Archive

A week ago, we received a great question in one of our classes... We were teaching a remote class at Hult International Business School the weekend before the Independence Day holiday. One of the students asked a question that I thought particularly relevant for the current market context, with big swings happening almost every day. […]

• NTDOY
• SLB

Sometimes, it's good to put things in perspective... When I was growing up, one of the things I most enjoyed doing was collecting and looking at maps. It wasn't just about knowing where my family was heading on vacations... it was about understanding the scale of the world.  When you dive into geography, the most […]

• AAPL
• DAL
• HCA
• IT
• LUV
• MSFT
• ROST
• YELP

Joel's note: The Altimetry offices are closed tomorrow in observance of Independence Day, so look for the next Altimetry Daily Authority on Monday, July 6. I hope everyone has a safe and enjoyable holiday! The 'At-Home Revolution' is the only thing that's stopping Coke's dominance...  For years, authorities across the globe have been focusing on […]

• BURL
• HSY
• KO
• NSRGY
• PEP
• TJX

During a recession, there's a reason governments tend to send stimulus to those with lower incomes...  Not only are these folks more likely to struggle during an economic downturn, but any benefits sent their way are also likely to have a stronger "multiplier effect" in the economy. This means that for $1 sent to a […]

• AAPL
• GOOGL
• IBRT

In essence, the economy is the sum of an entire nation's profits... People often think of "profits" as just something that corporations report. But in reality, these come from across the whole economy. Corporate profits are the revenues companies generate less costs. Consumer profits are the revenues that folks take in less taxes and savings. […]

• EV
• FB
• MSCI
• NKE
• TWTR

We've talked regularly about the coming 'Big Bath' in earnings, now let's talk about what to do about it... Late last month, we highlighted in the Daily Authority (and in Forbes) that second-quarter earnings are going to be ugly due to the earnings "Big Bath." We also noted that the market is not pricing in […]

401(k) assets in the U.S. are an estimated $6.2 trillion... This is a massive market, but these accounts generally have very specific rules on what assets they're able to invest in. And in a potentially important shake-up, the U.S. Labor Department just added another asset class to that list: private equity. Some people might be […]

• DHR
• MIDD
• WBT

We hope you weren't planning on surviving the coronavirus pandemic by harvesting nickel and copper... Last week, many people tuned into U.S. Federal Reserve Chairman Jerome Powell's testimony in front of Congress to hear information on the U.S. economy and what the Fed plans to do to mitigate the economic damage of the pandemic. If […]

• AMC
• DIS
• NFLX

Equity investing doesn't stop in the markets... When people think of "equity investing," most think of stocks. In reality, it means that anytime you own a stake in an asset where you get all the "upside" from its cash flow streams, you actually have ownership.  Aside from public equities, this also includes private-equity investments, owning […]

• HGV
• HLT
• SBUX

The 'Big Bath' is coming... and no one is talking about it.  A few weeks ago, we shared an essay Joel wrote in Forbes that warns of a coming earnings apocalypse: the "Big Bath."  This isn't a new phenomenon. When management teams are going to disappoint on earnings, the smart ones don't just give bad […]

• BP
• FB
• GOOGL
• TTD