After the new $1.9 trillion stimulus package was passed along party lines early in the year, the multi-trillions of dollars of government stimulus and additional trillions of monetary support by the Fed left the United States awash in cash. As can be seen in the chart below, the U.S. money...Read More
The volatility of 2020 is still fresh in people’s minds.
On March 12th, 2020, the S&P 500 had it largest single-day percentage drop since the 1987 stock market crash, falling 9.5% in a single trading session.
This infamous record was short lived, as four days later on March 16th, the S&P 500...Read More
Successful investing doesn’t have to mimic rocket science. Warren Buffet breaks it down well in his first two rules of investing:
Rule #1 – Don’t lose money; Rule #2- Don’t forget Rule #1!
We adhere to this principle, and our entire investment process revolves around the idea of limiting...Read More
Prospector approaches value investing from a credit perspective, with an emphasis on value-based principles and bottom-up fundamental analysis.
Our in-house, deep dive research is key to our approach, focusing on regulatory and statutory statements when available, in addition to GAAP.
We look at...Read More
Businesses purchase insurance for vehicles, property, liability, and employees, among others. Workers’ compensation insurance is mandated by law, but most other coverages are purchased regardless. Actuarial data on historical loss trends is prevalent, but less reliable for extrapolation, for...Read More
The yield component of value stocks can play a valuable role in client portfolios given the lack of yield currently available from traditional fixed income asset classes as well as the interest rate (duration) risk associated with those types of securities.
The yield component is also an...Read More
After a decade where the dramatic outperformance of growth stocks left many value investors scratching their heads, the recent rise in interest rates has poured cold water on high-flying tech stocks and helped swing the pendulum back to value stocks. In particular, the financial sector, which...Read More
The following blog is an excerpt from our Q4 client letter that was written in late January 2021. We believe the information around industrial production, inflation and bond yields remains as relevant as ever and we hope you find this piece helpful.
Growth stocks dominated over their value...Read More
Have you ever been researching a stock and noticed that it has no P/E ratio? This is usually because the company is unprofitable and thus has no earnings to use as the denominator within the ratio. Current examples of well-known companies with no earnings include Snap (maker of Snapchat), Uber,...Read More
Insurance is generally sold “direct” by insurance companies’ paid employees or sold via agents/brokers also known as third party distributors. The economics of an agent/broker are very attractive. They charge a commission/fee for their services (typically a percentage of the premiums) and do not...Read More
Posts by Topic
The views described herein do not constitute investment advice, are not a guarantee of future performance, and are not intended as an offer or solicitation with respect to the purchase or sale of any security. Investing involves risk, including loss of principal. Investors should consider the investment objective, risks, charges and expenses of a Fund carefully before investing. Please review the offering memorandum or prospectus of a Fund for a complete discussion of the Fund’s risks which include, but are not limited to: possible loss of principal amount invested; stock market risk; value risk; interest rate risk; income risk; credit risk; foreign securities risk; currency risk and derivatives risk.
Nothing contained herein constitutes investment, legal, tax, or other advice nor should be relied upon in making an investment or other decision. Any projections, outlooks or estimates contained herein are forward looking statements based upon specific assumptions and should not be construed as indicative of any actual events that have occurred or may occur.