Stay with the Miners
With this year’s fourth quarter around the corner, we maintain a positive view on the miners. The majority of our preferred global macro indicators are holding well, and the mining sector still trades at a deep discount to the market. Metal prices already show strength, suggesting corporate earnings should soon follow.
Risk Management and Positioning for the Future
We exit a few positions where our investment theses no longer hold, kick the tires on two of our winners and round out the Wealth Builders Portfolio’s financial sleeve with a new addition.
Portfolio M&A
Technology companies thrive on growth, which requires research and development spending. But a quicker way to expand market share is through acquisitions. Three Portfolio members have done just that.
Utility Takeover Talk
It's been an active year for mergers and acquisitions in the utility sector. We discuss our key takeaways from a major deal that closed ahead of schedule and highlight some of the main themes that will be in play going forward.
Spin City
Two of our Wealth Builders Portfolio holdings announced spin-offs as part of their turnaround stories. We take stock of these moves and their implications.
Utility M&A Update
Consolidation continues apace in the utility sector, as operators seek to take advantage of frothy stock prices to improve their economies of scale and increase their exposure to growing demand for natural gas.
We update our takes on the various pending acquisitions involving the more than 200 essential-services stocks that we cover in our Utility Report Card.
SolarCity and Tesla Motors: Steer Clear of These Kissing Cousins
The proposed combination of SolarCity and Tesla Motors amounts to little more than a bailout of the fatally flawed renewable-energy company that loses more money with each incremental sale. Investors looking for exposure to clean energy should stay away.
The Latest Sign of Froth in the Utility Sector
The minimal premium involved in Great Plains Energy's proposed takeover offer for Westar Energy underscores how stretched valuations have become in the utility sector.
Sticking with Our Hedges
The May employment report for from the Bureau of Labor Statistics underscores why remain cautious on the US economy.
Let’s Make a Deal: Utilities Take Advantage of Pipeline Companies’ Pain
Consolidated Edison's recently announced joint venture with Crestwood Equity Partners LP highlights a trend to watch in the utility sector.