A Debate from TheStreet.com

Two of my favorite market pundits are Scott Rothbort and Doug Kass.  They both write for the professional (and more expensive section) of TheStreet.com, and get some air time on CNBC and mentions in other places as well. I like Rothbort’s analytic approach and maybe the fact that he still teaches a college class on […]

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Discounting and “Baking in”

This note is important to understand what is going on with the current earnings reports and the market reaction.  Read to the end for a nice illustration, even if the concept is one familiar to you. The market is, of course, forward looking.  Everyone with money at stake is attempting to make predictions about the […]

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“Back in the Day,” Part II

Jeff Matthews has an entertaining and well-written commentary on conference calls, guidance, and forward looking statements.  It is always fun to pick out predictions that later look foolish.  The more predictions that someone makes, the easier it is to find an error.  The question is whether Jeff’s analysis of a homebuilder has any relevance for […]

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Introducing the Concept of Local Market Efficiency

Anyone who has experience in the market learns respect.  Your account tells you daily the verdict of the market.  The Efficient Market Hypothesis, which is a central theme at "A Dash," holds that each piece of news gets accurately priced into every stock in a forward-looking fashion. I have maintained that markets can get very […]

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