The book-to-bill ratio is a measure of the relationship between the amount a company bills over a specific period (a month, a year, etc.), and new orders. To the extent that new orders exceed or fall short of current revenues, backlogs increase or fall. A book-to-bill ratio higher than one means that more orders were … Continued
This is the last line of a John Milton sonnet and has been subject to a wide range of interpretations. One possible interpretation might relate to the fact that first responders are definitely serving, whether they are on stand-by or actually in the field addressing an emergency. Investors might benefit from recognizing that they may … Continued
There seems to be a disconnect between the Fed’s expectations and those of investors. The Fed appears to continue to expect that the economy will grow at rate above 2% during 2019, which, when viewed in the context of very low unemployment, could lead to an inflation rate above the Fed’s 2% target. Investors by … Continued
Many investors tend to keep a fairly short term perspective regarding their equity portfolio despite the fact that this asset class is typically held in a portfolio to provide long term growth. Moreover, it is becoming increasingly easy to track one’s portfolio on a daily basis via a smart phone, … Continued
Recent market volatility, with daily multi-hundred point moves for the Dow Jones Industrial Averages, may be attributable to investors focusing, less on what the news actually means, but rather, interpreting every news item, on a given day, as either all good or all bad. Obviously, the outlook for individual companies or the general economy, does … Continued
This is a quotation from FDR’s first inaugural address when the country was in the middle of a severe depression. Obviously, we are not currently seeing any serious economic stress. But rather, we are looking at a very strong economy and a strong stock market, generally just a few, single digit percentage points from all-time … Continued
With bitcoin down 80% from the peak, and similar declines for other cryptocurrencies, what’s likely to happen next? We have previously commented on the cryptocurrency phenomenon, see Coin of the Realm, posted 16 Feb 2018 and Tulips and Bitcoins posted 16 Aug 2017. We have been somewhat less than enthusiastic regarding the investment merit of … Continued
The Right Stuff is the title of a 1979 book by Tom Wolfe about the pilots engaged in U.S. postwar research with experimental rocket-powered high-speed aircraft as well as documenting the stories of the first Project Mercury astronauts. The Right Stuff can also refer to necessary or ideal qualities and capabilities, such as courage, confidence, … Continued
According to Wikipedia, logistics is generally defined as the detailed organization and implementation of a complex operation. For business, logistics is a general term for the management of the flow of things between the point of origin and the point of consumption in order to meet the requirements of customers. Manufacturers and providers of goods … Continued
No, this is not about diversifying your portfolio. Hopefully, you and your advisor(s) have already developed a strategy that suits your circumstances. This is a suggestion that you consider diversifying your sources of information. A sound investment strategy probably incorporates a measure of belief in the future based on an informed understanding of relevant facts. … Continued
Recent market volatility has given rise to all kinds of commentary, by assorted market prognosticators who, encouraged by the media, attempt to attribute some degree of significance to very short-term market swings. Investors would be well advised to retain a focus on longer term objectives. Perhaps the most useful explanation for very short-term market swings, … Continued
That depends on where the oil is. Currently, Brent crude is trading at approximately $80/bbl. U.S. benchmark crude futures, priced at Cushing, OK, are trading about $10/bbl. below Brent, and cash prices in the prolific Permian Basin are even lower. However, the “prize?” goes to Canada, where Western Canada Select crude cash prices are currently … Continued
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