Todd Sullivan | TalkMarkets | Page 45
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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More On “Shiller PE” Fears
The issue of using avg. P/Es to value markets is that close examination of markets over our history shows that markets have low P/Es when inflation is high and high P/Es when inflation is low.
Government Expenditures Adding To GDP
Real GDP 3Q 2014 was revised higher than expected.
Rail Traffic Indicates Optimism Warranted
Skeptics will toss in the “Fed raising rates” as a reason to not be so optimistic. The Fed has made it abundantly clear rates will not rise unless economic conditions warrant they rise.
Rail Traffic Bucks Trend
Total N. American rail traffic came in at 760k carloads last week just off the all time high (764k carloads) set a few weeks ago.
S&P Intrinsic Value Update
The Dallas Fed 12mo Trimmed Mean PCE(inflation measure) reported at 1.6%. Inflation has been low and stable since Jun 2014.
Chemical Activity Signals More Economic Gains
A long term perspective of economic trends vs. stock prices supports this approach as the only viable approach in volatile markets.
American Apparel May Seriously Be Considering Buyout
American Apparel Inc. has been approached by Irving Place Capital about a possible takeover, according to people familiar with the matter.
Howard Hughes Doubles Columbia, MD Holdings
Bottom line is $HHC paid $66M ($204M to IRS and getting $138M from $GGP) for 715k of office space……and this assumes they get no relief at all from the tax court.
Oil Pricing & Fundamentals Often Dislocate...Like Now
The only explanation why “Peak Oil” panic occurred in 2012 but not today has to be laid to market psychology.
The Glass Is Half Full……And Filling Up
If one studies markets using the historical record, the most striking feature revealed is that fundamental economic trends correlate with the long term trends in equity prices.
Watt: “Financial Operations Of FNMA Have Stabilized To A Sufficient Level”
So, if the FHFA is directing the GSE’s to make a payment to another entity other than Treasury, according to the SPSA Treasury has signed off on it.
Howard Hughes, Book Value & Oil?
If Howard Hughes can continue its recent run of impressive growth, it could potentially achieve or exceed its prerecession highs of $548.7M in total revenues last achieved in 2006.
Data Still Makes Case For Stocks
Economic data speaks volumes! It indicates that investors should weather any volatility till the data tells us that the economy is peaking.
As Expected Employment Accelerating
This isn’t all that much of a surprise if you’ve been following the temp help index and some of the other indicators… they have been forecasting accelerating employment since for some time..
Temp Staffing Reaches All Time High
Also, auto sales remain strong….another indicator of increasing employment.
“Shareholder Value Maximization”…..The World’s Dumbest Idea
A fresh perspective, checking assumptions, challenging mindsets - European Investment Conference. (Video Length: 00:44:31)
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