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Now you’ve been distracted, here’s the real US monthly job growth numbers
Gosh, with so much excitement going on in the world between the bombs, missile strikes and false flags it was easy to miss last week’s US non-farm payroll release for March. Not that one would have missed much. Having delivered its much anticipated second rate increase in the current tightening cycle, the Fed no longer […]
Continue readingEnd of cycle warnings for marketing services
How many leading marketers know what return they’re getting on their marketing investment? From P&G marketing honcho, Marc Pritchard’s gripes about poor transparency and accountability and a “crappy media chain”, one might surmise not many. If you can’t trust the data on who is being reached, any resulting ROI calculation derived from it is therefore […]
Continue readingPOTUS missile attack on Syria – more Kabuki theatre than prelude to WW3
Markets attempt to discount the future, which for the present often means trying to anticipate what the new POTUS is up to. Unfortunately, when he is failing to deliver what he promised (Healthcare and tax reform), but doing what he explicitly said he wouldn’t (bombing Syria) one might be forgiven for wanting to move into […]
Continue readingENIRO AB – Sometimes a negative valuation in the GrowthRater is justified!
ENIRO AB Friday’s announcement warning that no agreement had been reached by the 31 March Deadline with the banks has been followed by this morning’s refinancing proposals where Convertible and Preference shareholders have basically the stark choice of agreeing to exchanging their rights for just common stock and then stumping up more cash in a […]
Continue readingWhat’s wrong with Facebook?
Markets don’t seem to like Facebook. Those with access to the mean reversion analysis in the GrowthRater WebApp will be aware of the systematic relationship between organic revenue growth for these super-normal ‘growthers’ and how far out markets are reaching out to revert the growth rating and OpFCF yield back a market average. While also […]
Continue readingHow ‘free’ is your ‘free cash flow’?
Back in January, Alphabet decided to take the high ground in its reporting by including Stock Based Compensation (SBC) within its adjusted ‘non-Gaap’ earnings’. As a bit of an old chestnut for analysts and portfolio managers and something the IASB has mandated to be included in IFRS reporting since 2005, it was perhaps no surprise […]
Continue readingEastman Chemical – when a picture is worth a thousand words
What is an equity, if not a participation in a cash flow stream where the yield can be determined by the prospective growth? With the correct methodology and cleaned up data, the GrowthRater does the heavy lifting for you to provide you with that perspective. The message is simple – BUY growth when it […]
Continue readingTrump and hot air lift February US jobs data – but will this be enough to justify a rate rise?
Does anyone not expect a March rate increase? After raising its Q1 GDP estimate from +3.09% to +3.19%, the +227k net private sector job adds reported in yesterday’s non-farm payroll data for February (after the +298k already reported mid-week by ADP), coming after similarly buoyant data released for January, the Fed seems to be setting […]
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