New Constructs leverages reliable fundamental data to provide unconflicted insights into the fundamentals and valuation of private and public businesses. Combining human expertise with cutting-edge machine learning (ML) technologies (
more New Constructs leverages reliable fundamental data to provide unconflicted insights into the fundamentals and valuation of private and public businesses. Combining human expertise with cutting-edge machine learning (ML) technologies (
featured by Harvard Business School), the firm shines a light in the dark corners (e.g. footnotes) of hundreds of thousands of corporate financial filings to reveal critical details that drive uniquely comprehensive and independent credit and equity investment ratings, valuation models and research tools.
The Journal of Financial Economics reveals:
- Legacy fundamental datasets suffer from significant inaccuracies, omissions and biases.
- Only our “novel database” enables investors to overcome those flaws and apply reliable fundamental data in their research.
- Our proprietary measures of Core Earnings and Earnings Distortion materially improve stock picking and forecasting of profits.
Harvard Business School and MIT Sloan are not the only institutions to write papers on the superiority of our data and research. Find more papers
here. Now, all investors, not just Wall Street insiders, can access trustworthy research on the earnings and valuation of stocks, bonds, ETFs, and mutual funds. Elite money managers, advisors and institutions have
relied on us to lower risk and improve performance since 2004. See client
testimonials and
media coverage. David is CEO of New Constructs (
newconstructs.com). David is a distinguished investment strategist and corporate finance expert. He was a 5-yr member of FASB's Investors Advisory Committee. He is author of the Chapter “Modern Tools for Valuation” in The Valuation Handbook (Wiley Finance 2010).
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Latest Comments
Netflix’s Price Increase Signals Original Content Isn’t Enough
@[Michele Grant](user:4854) - excellent point!
Netflix’s Price Increase Signals Original Content Isn’t Enough
Thanks @[Harry Goldstein](user:15520).
Understanding how far off they are from profitability today helps investors see the real risk in the stock.
Netflix’s Price Increase Signals Original Content Isn’t Enough
Good points - and the back and forth here illustrated the challenges Netflix has to making money. Not sure how they will ever make the kind of money they need to make to support original content creation.
Understanding how far off they are from profitability today helps investors see the real risk in the stock.
Netflix’s Price Increase Signals Original Content Isn’t Enough
They lost $2.8 billion in 2016.
Over the trailing twelve months - free cash flow is -$3.1 billion.
Wall Street loves the stock and the firm's strategy b/c it will generate lots of underwriting fees for all the debt and stock NFLX can sell to the suckers willing to fund a business model that has not made money 2010 when free cash flow was $29 million.
Since 2002, free cash flows is -$9.4 billion, cumulatively.
Why We Downgraded Disney
Mr. Kaplan,
We think Disney is a great company — a truly great one — that has tremendous brand assets and has delivered great value for shareholders for many years. We simply believe that all of these brand assets and future "home run" movies, including Frozen 2, are priced into the stock at its current level.
Thanks for reading and commenting.
Top Stock Picks: 2014 In Review
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Danger Zone: Glu Mobile (GLUU)
Why Footnotes Matter