Why monkeys beat fund managers

Every now and then a bored financial publication goes to the zoo, rents a monkey and pits him against a bunch of mutual fund managers.  Lo and behold, the ignorant monkey who doesn’t know a thing about betas or earnings potential beats the significant majority of active portfolio managers. These journalists must be pretty good monkey… Read More »

Mastering the investment research process

There is certainly not just one proper way to make an investment decision and every analyst has his own research process. The following is just a decent approach, which you can use as a base and then tailor to suit your own skills and needs. After all, an investment approach must be intuitive and adaptive… Read More »

7 skills to boost your influence as an analyst

The best equity analysts routinely use their influence to be more effective. In almost any task of an analyst’s job -whether speaking to management, investors or portfolio managers one-to-one or just sending an emailing to a random potential information source-, there is an influencing element involved. There are a number of important skills required for… Read More »

MacNeil Curry does it again

From the guy that brought you “Gold looks scary good” in 2013 and “Equities are set to top and roll over” in 2014, last week came “Time to buy Oil”. Time to buy May WTI  Since Feb-03, oil has been consolidating in an increasingly well defined contracting range. That range is almost complete and the… Read More »

Gold, equities, and bonds: how do they fare in today’s market setup?

Gold, equities, and bonds: how do they fare in today’s market setup? Financial advisers tell their clients to diversify, and with good reason. There’s no such thing as “100% sure”, and experts can do nothing but speculate on the markets. In reality, gold is only remembered when political turmoil is brewing. The only reason why… Read More »

The Spanish “part-time” recovery

Spain’s economic data lost all credibility once the local bureau of economics, statistics and other goalseeked numbers decided to arbitrarily start adding what it estimated was the “contribution” from not only local drug dealers but also hookers. No surprise then that the government has proudly declared quarter after quarter that Spain is one of Europe’s… Read More »

Tesla transitions to non-GAAP EBBS reporting

Tesla Motors (TSLA, Nasdaq), the US electric vehicles manufacturer, reported today full year 2013 EBBS of $40 million, or $0.33 per fully diluted share. The stock traded up 8.4% in the after-market, to a $279.97 high. The company is following a few other social media and technology companies in moving from the traditional –but outdated-… Read More »

Dumb things investment professionals say

Investment professionals like to think they are smart. In truth most are, but just not as much as they think. The industry is filled with over-achievers that default to investment banking because they lack a personal project to direct all their wit and ambition. Anyhow, very smart people are very much capable of saying very… Read More »

Front office roles at investment banks

For those trying to find your place within investment banking, here is an overview of what the different front office roles actually entail: Sales You get to the office around 6am in order to spend most of your day on the phone trying to sell your clients products that they probably don’t need. If you’re… Read More »

You know you are in finance when…

…the bartenders at Starbucks make your coffee without you having to order it. …you yell at your girlfriend for being shitty at excel. …you see your Blackberry blinking on saturday morning and get in a cab to the office before you actually read the message. …you write your valentine’s day card in bullet points. …it’s… Read More »