Growth in earnings doesn’t necessarily equate to growth in a stock’s price. A company’s growth must meet or exceed the expectations of its investors to increase the stock price. When they fall short of these lofty expectations the results generally spell trouble for shareholders.

Download Memo as PDF Time For a Change? There are two themes that we have stressed in our quarterly memos and in various episodes of our Reflections on Investing video series. The first is that interest rates have been extraordinarily low, particularly relative to the rate of inflation. The second is that stock prices have been

Until recently fixed income has offered high risk and low return. It looks like things might be changing. We take another look.

By Bradford Cornell Tweet 0 Share 0 Download PDF Introduction            This paper provides simple intuitive explanations for three interrelated concepts that have provocative, implications for investment management: data mining, non-stationarity, and information entropy. The first two have been extensively analyzed in the literature and the point of this article is

The market’s incredible performance post Covid was driven largely by growth and tech. Some of these companies were up 300, 400 even 700 perecent, companies such as Wayfair, Peloton, Zoom and Cathie Wood’s ARK invest ETF’s, most notably ARKK. Unfortunately for ARK and many other tech investors 2022 hasn’t been kind and these “High Fliers”

We’ve had a lot of volatility in the market recently. What exactly is volatility and how is it measured?

For many investors options are associated with high leverage and high risk. However, options can be used to manage risk and enhace the risk/return menu.

The Price to Earnings Ratio (P/E) is one of the most frequently figures for comparing valuation. We explore the relationship between P/E, investor expectations and sentiment.

Volatility in the market is up once again but what does that mean for your investments? 

Prof. Bradford Cornell discusses how the book value, forecast value and speculative value contribute to the market price of a stock.