Todd Sullivan | TalkMarkets | Page 23
Hedge Fund Manager, Owner of ValuePlays and Angel Investor
Contributor's Links: ValuePlays Rand Strategic Partners
Todd Sullivan is a Massachusetts-based value investor and a General Partner in Rand Strategic Partners. He looks for investments he believes are selling for a discount to their intrinsic value given their current situation and future prospects. ...more

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2018 Oil Price Collapse Had No Impact On E&P Activity Index
US Crude Production reaches new high at 12.3mil BBL/Day and Employment in Oil&Gas extraction industries continues a decent rise in its recovery from lows of Dec 2017.
Employment & Vehicle Sales Holding, Chemical Activity Barometer & Temp Help Rising
The employment reports today show a rise in the Establishment Survey of 263,000 and drop in the Household Survey of 103,000.
S&P Value Investor Index Update
The Dallas Fed 12 month Trimmed Mean PCE reported at 1.96%.. slightly revised higher past 2 months. The Natural Rate is 4.90%. This leaves the SP500 27.4% above the Value Investor Index at $2,311.
Real Private GDP Accelerating
Real Trailing Twelve Mos GDP reported as now 3.2% and the Real Trailing Twelve Mos Private GDP 3.51%.
The Dollar And Oil
The past few days have added to the positives of extending the business cycle. Something to watch carefully to see how it all develops.
Oil Update - Wednesday, April 17
Low refinery inputs continue to lead to strong gasoline draws and only a minor reduction of US Crude Inventories leaving current US Crude levels ~15mil BBL above the 5yr move avg.
“Davidson” On Fastenal
Fastenal remains a good investment at current levels and a good general market price indicator. The long term growth of FAST has been 14% with the current dividend of 2.5%.
E&P Efficiency Index
The E&P Efficiency Index is an effort to capture the changes in technology and methods employed to lower extraction costs in the E&P sector.
A New Way To Measure E&P Activity?
Rig counts are typically viewed as the holy grail indicator for drilling activity.
Markets Do Not Repeat, They Don’t Even Rhyme
Understanding investment markets requires a historical perspective of past events. It is a combination of historical review of innovations, their associated human responses and subsequent pricing through market psychology.
Upgrades Based On Momentum, Not Fundamentals
Morgan Stanley's double upgrade on RPC Inc. shows that they waited for Momentum to build before analyst shifted rating-typical example how Wall Street has become permeated with short-term Momentum thinking.
The Economic Expansion Continues
The trends in employment and vehicle sales correlate to other economic indicator signals that the US economy continues to expand.
Oil Should Continue To Rise
US Crude Inventories rose by 10mil BBL on weak Refining Input causing a sharp draw on gasoline inventories, but oil prices are higher.
Golden Cross Vs Death Cross- Neither Has Fundamental Meanings
The fact is the SP500 is rising as fundamentals continue to convince investors that Dec 2018 swoon was a misperception of economic conditions.
S&P Intrinsic Value Update - Friday, March 29
The SP500 Value Investor Index (VII) for April is $2357. The SP500 priced at $2825 represents a 19.4% premium.
Manufacturing Employment Uptrend Continues
US Manufacturing employment has been in a decent uptrend since early 2017, but its history has not been a simple story.
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