Editor’s note: Nothing makes a stock move faster than a quarterly earnings report… If a company beats Wall Street’s expectations, its stock goes up. And if it doesn’t, the stock goes down… sometimes significantly in a single trading day. But as our good friend Professor Joel Litman has noted over the past few weeks, “as … Read more
By Joel Litman – Altimetry’s High Alpha newsletter At the height of the dot-com bubble, Internet darling AOL could do no wrong… When the company announced it was joining with media conglomerate Time Warner in January 2000, many people thought the merger was a smart move. AOL would gain access to Time Warner’s content and … Read more
By Joel Litman – Altimetry’s High Alpha newsletter Yesterday, we discussed why concerns about an imminent recession are misplaced. Thanks to the drop in the cost for corporations to refinance their debts since early 2019, debt maturities are starting to be pushed out. And without a debt crunch, there’s no risk of a recession. — RECOMMENDED … Read more
Joel Litman – Altimetry’s High Alpha newsletter Earlier this year, we headlined our January report for our institutional investors: “A RECESSION IS COMING… in 18 months to two years if trends do not change before then.” Trends have changed significantly in the past nine months. Many market strategists, financial journalists, and regular investors are calling for a … Read more