And he sounded an alarm about the housing euphoria that led to the financial crisis. To him, things once again are looking bleak. How bad will the next bust be? Very bad, Grantham indicated. Shares of several related stocks are ripping higher today, suggesting that investors are feeling especially bullish on the prospects of the EV industry.
Following the release, an investor conference call was held. Highlights for the year. The recent spin-off of its managed infrastructure business into a company called Kyndryl NYSE: KD removes a noncore business from its balance sheet. Also, management promised that the two companies would maintain the current combined dividend.
A bevy of Wall Street analysts followed up by lowering their price targets for the stock, adding to today's pain. According to The Fly, four analysts lowered their price targets for the stock as a result of third-quarter results.
Analysts raise their price targets on Nvidia and reiterate positive ratings ahead of the company's quarterly earnings next week. Nearly a week since it reported estimate-crushing earnings for the fiscal third quarter of , shares of rare earth metals miner MP Materials NYSE: MP are marching higher on Thursday, rising 9.
MP Materials may not be the lowest-cost miner of rare earth metals, admitted Jefferies this morning in a note covered by StreetInsider. He noted that there are other viable stocks to buy in the lithium recycling space, but reaffirmed that QuantumScape is his top pick.
Every stock has a backstory, and the backstories offer hints and clues to what lies ahead. A smart investor will learn which clues or signals bode best for the stock. These are the ones to follow. One sound signal is insider buying. As it turns out, moreover, these two things are connected. Value is not as dependable and useful a weapon as it was prior to The best value metric is dividend-discount model, according to Grantham, because it gives full credit for intellectual property.
It is why he bought Microsoft early on and held it until late It sold at many multiples of book, he said, but had a high, stable return. Amazon and Alphabet, even allowing for their returns, are still overpriced based on that model. Grantham has never seen as concentrated a group of disruptive, fast moving companies that were built on intellectual capital. But they have been bid up and even the best companies can be overpriced.
That asset class is emerging markets, which are guaranteed to grow fast, he said. It consists of 26 countries and covers every industry you could want — at times earnings. Collectively they will be a much bigger part of world GDP, according to Grantham. Membership is now required to use this feature. To learn more: View Membership Benefits. Already a member? Q: When your letter of warning came out, what was the response like?
A: I got a lot of pushback. Waves of Bitcoin freaks attacked me in every way possible. They said my ears were too big, and that I needed to be locked up in an old-folks home. Q: So if we were already in a bubble then, where do things stand right now? A: Bubbles are unbelievably easy to see; it's knowing when the bust will come that is trickier. You see it when the markets are on the front pages instead of the financial pages, when the news is full of stories of people getting cheated, when new coins are being created every month.
The scale of these things is so much bigger than in or in Q: What is your take on equity valuations now? A: Looking at most measures, the market is more expensive than in , which was more expensive than anything that preceded it. My favorite metric is price-to-sales: What you find is that even the cheapest parts of the market are way more expensive than in
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