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Commentary

Market in Pictures – Issue #6

February 16, 2021 Applied Finance

Jeff Bezos to Quant “value” investors- I’m thinking of expanding $amzn beyond books – should I invest in my business? They all say – No Don’t!!! Our models show companies that invest in their business […more]

Commentary

Market in Pictures – Issue #5

January 25, 2021 Applied Finance

A market-beating investor on Charles Schwab’s exclusive list of top-tier mutual funds explains why he believes traditional value investing never really worked — and shares his strategy for identifying the best cheap stocks https://t.co/KqVP0FbjpA — […more]

Commentary

Concentration of Top 5 Market Cap Stocks in S&P 500 (Update Jan. 2021)

January 19, 2021 Applied Finance

The five largest stocks in the US (AAPL, MSFT, AMZN, GOOGL, FB) dominated S&P 500 performance in 2020, returning 56.0% over the course of the year on a capweighted basis, while all other US stocks returned 15.0% in aggregate. We can further examine implied expectations with VE models to the right. Since the end of 2020, TSLA has passed FB to claim the fifth largest market cap; we have also included insight into TSLA’s valuation characteristics following their recent inclusion and large allocation in the S&P 500. […more]