Presently just five US tech companies account for nearly 25% of the S&P 500 market cap. We discuss resurgence of big US tech and what it means for investors. Hello and welcome to Reflections on Investing with the Cornell Capital Group. This is Shaun Cornell, and I’m joined by Professor Bradford Cornell and Andrew Cornell. Today,
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Prof. Bradford Cornell explains how fundamental valuation analysis can potentially uncover market inefficiencies. As an example, Prof. Cornell revisits our publication “Valuing the Automotive Business” from November 2021. Hello, welcome back to reflections on investing with the Cornell Capital Group. Today we’re going to return to two themes that have resonated throughout our series of
Download Memo as PDF During the first quarter the story of both the fixed income and stock market revolved around the ongoing evolution of the yield curve. To review, the yield curve plots the yield on Treasury securities as a function of their maturity. The graph below plots the yield curves at the start of
When interest rates were near zero it was easy for companies to borrow and for investors to overlook debt. But as interest rates increase, the amount of debt held by a business can become a significant refinancing risk for the company and investment risk for investors. Hello and welcome back to Reflections on Investing with
How can an option trade make 4000% in one day? Tesla stock has been highly volatile and one of the drivers of this volatility is the unusually large volume of options trading. Are large proportion of Tesla option contracts are traded on the day of expiration (zero DTE) and just out of the money. This
While 2020/2021 were great years for our High Fliers, in 2022 the party ended and many of those companies like Peloton, Wayfair and Carvana came crashing down. In the first month of 2023 however we are seeing signs that the worst may be over for the High Fliers. For many of these companies January of 2023
Download Memo as PDF Retrospective As 2021 came to an end, the stock market party was going strong. The S&P 500 index closed at 4766.18 up 1,010 points or 26.9% for year to within a hair’s breadth of its all-time high. The Dow Jones (36,338) and the NASDAQ (15,645) indexes also closed near record highs. Most
We revisit “Valuing The Automotive Industry” our in depth report from last year. “Valuing The Automotive Industry” (Nov. 2021) Hello and welcome back to “Reflections on Investing with the Cornell Capital Group.” One year ago today, the Cornell Capital Group published a report on valuing the automotive industry, and that report relied on one key concept
In October of 2021 we reviewed the Howard Marks Checklist from Mr. Marks’ book “Mastering the Market Cycle.” Since then conditions in the market have changed dramatically so we felt it was time to revisit Mr. Marks’ checklist. Welcome back to “Reflections on Investing with the Cornell Capital Group.” Too often, investing pundits make forecasts,
The market’s worst day of 2022 was September 13th when the Bureau of Labor’s Consumer Price Index came in higher then expected. A month later the next CPI release was a similar surprise however the market’s reaction to that news was much different. Former Goldman Sachs CEO Lloyd Blankfein remarked: “This is one of those trading
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