Silver as an investment

Category Archives: GAAP

Earnings Don’t Matter After All!

Via The Knowledge Leaders Capital blog, Our long-time readers are familiar with the work of Professor Baruch Lev of the NYU Stern School of Business, whose research forms the basis for the Knowledge Leaders investment strategy. In his decades-long study of financial records, Lev first discovered a link between a firm’s knowledge capital and its […]

The Difference Between GAAP And Non-GAAP Q3 EPS For The Dow Jones Was 16%

The last time we looked at the near-record difference between GAAP and non-GAAP Dow Jones earnings, we found that it had crept to a (virtually) unprecedented 25%. To be sure, that was exactly one year ago, when the economy was perceived as being in worse shape than it is now, thanks to the narrative of […]

Global Stocks Tumble, Asia Plunges On Chinese Commodity Carnage

The euphoria of the past month has ended with a thud and BTFDers are strangely missing as the commodity chill out of China (which overnight became full blown carnage), has unleashed a global risk-off phase ahead of today’s critical CPI data, resulting in broad and sharp selling across global markets, as European stocks followed declines […]

In Bizarre Warning JPMorgan Says “Beware The Shadow World” As “Speed Of Asset Rally Is Scary”

While the Fed may still be confused by the lack of inflation, if only in the “real economy”, if not in financial assets, increasingly more analysts have realized that what the Fed has done is tantamount to blowing an roaring inflationary bubble, if largely confined to the realm of asset prices. And while we used […]

Twitter Surges After Beating, Adding 4MM MAUs Despite Admitting It “Overcounted” Users For Years

In the first sign that President Trump's favorite social network may be finally turning the corner, Twitter reported revenue, EBITDA and earnings all of which beat expectations, at revenues of $589.6MM (vs exp.$587.5MM), EBITDA of $207MM (vs exp.  $161MM) and non-GAAP EPS of $0.10, better than the $0.06 expected. Monthly active users rose by 4% […]

IBM Reports 22nd Consecutive Quarter Of Declining Sales, “Beats” EPS On Drop In Effective Tax Rate

Last quarter, IBM – once again – almost fooled the market when it “beat” but only thanks to using the lowest (until then) effective non-GAAP tax rate in recent history (excluding one charge-filled quarter when the rate was negative and thus N/M). Fast forward to this quarter when IBM has done it, or at least […]

Bogle, Buffett, Shiller & Tobin – Valuations Are Expensive

Authored by Lance Roberts via RealInvestmentAdvice.com, During my morning reading, I ran across a couple of very interesting articles that tied a common theme relating to the current risks in the financial markets. Via Zerohedge: 88-year-old investing icon John “Jack” Bogle, founder of the Vanguard Group, said: “The valuations of stocks are, by my standards, […]

Jack Bogle Slams Wall Street’s “Unrealistic” Earnings Guesses, Says Market Valuations “Rather High”

88-year-old investing icon John "Jack" Bogle, founder of the Vanguard Group, says that the market seems to be "fully valued," and suggests investors adjust their asset allocation. In an interview with The Street, Bogle said: "The valuations of stocks are, by my standards, rather high," adding that "my standards, however, are high." When considering stock […]

Kass Warns: “The Scent Of Group Stink Is As Strong As In 2000 & 2007”

Authored by Doug Kass via RealInvestmentAdvice.com, * In a paperless and cloudy world, are investors and citizens as safe as the markets assume we are? –Kass Diary Another provocative missile launched by North Korea and another apparent terrorist attack in London, England, are, once again, overnight and early-morning features of our reality as investors and as […]

After 100 Months Of Buying-The-Dip – Stockman Warns Of “Peak Crazy”

Authored by David Stockman via The Daily Reckoning, Just call it Peak Crazy and move on. There is absolutely no reason for the stock markets to be at current levels, let alone melting-up day after day. The fact that this is happening is a measure of how impaired capital markets have become as a result […]