The Weekly CEF Roundup will be put out to summarize recent price movements in closed-end fund sectors in the last week, as well as to highlight recently concluded or upcoming corporate actions on CEFs, such as tender offers. Most of the information has been sourced from CEFInsight or...
Investment Thesis When a technology shift like EV rattles an industry, usually the front-row companies like Tesla (TSLA) get plenty of attention and trade at lofty valuations. Instead of guessing who will win the EV race out of Tesla, General Motors (GM), Nissan (OTCPK:NSANY) or Toyota (TM), a good strategy...
With Activist Pressure Mounting, Allergan Will Need Positive Results from Upcoming Catalysts Allergan (NYSE:AGN) is sitting at a crucial period in the company's history. The stock has declined by over 45% since its peak in 2015, and activist shareholders have begun to get more involved with public calls for board...
Last year, the Pentagon led a revolt against the FDA’s delay in approving a freeze-dried plasma product that they thought would be critical to soldiers in combat. The Pentagon passed a bill allowing them to use unapproved products under certain circumstances - or, in other words, to create a...
In my article last month titled iQIYI: The Need For Caution Has Intensified, I noted how iQIYI's (IQ) share price was moving almost in lockstep with another video-streaming company, Huya Broadcasting (HUYA). Since then, the pair is still tracking each other to a large extent. A reader pointed out...
General Electric (GE) unveiled new initiatives to “create value” last month. Transportation is already out through a combination with Wabtec (WAB), now Healthcare and Baker Hughes (BGHE) will follow. The management touted the planned $25 billion debt reduction by 2020 for GE Industrial; and as debt goes down, you...
Confirmation and Anchoring Confirmation and anchoring, according to a recent survey, are the two most popular biases of investment advisors. I suspect these are largely the biases of their clients. While these biases tend to drive investors at all levels into the most popular strategies and investments, they imply that...
Last Thursday, Achaogen (AKAO) organized a lunch with two KOLs and analysts to inform the investment community on how the company is preparing for the commercialization of its recently approved antibiotic Zemdri. Looking at how the market reacted on Friday, sending the stock close to its lows of the year,...
A new study of volatility in commodity prices indicates that both the total and the decomposed variance risk premiums of at least certain commodities markets contain information with predictive power. The variance risk premium is the payoff of the synthetic variance swap contract. Specifically, it's the difference between the floating...
David Einhorn has had a bad year (or maybe a few bad years). Total AUM (assets under management) were as high as $12 billion in 2014. Today, AUM are about $5.5 billion, and of that total, about $1 billion is Mr. Einhorn's own money and another $1 billion is...