Portfolio Manager & Principal, HORAN Capital Advisors
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David Templeton, Portfolio Manager & Principal, is a senior strategist and advisor at HORAN Capital Advisors. David has extensive experience in portfolio construction, security selection,development of investment policies and portfolio allocation strategies for individual and institutional ... more

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Trend In Index Earnings More Important Then A Slowing Rate Of Earnings Growth
One issue strategists are highlighting of late is the fact the earnings growth rate for the S&P 500 Index in 2019 is expected to decelerate from the mid to high 20+% level this year to the mid-single-digit percentage level in 2019.
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Steep Decline In Bullish Investor Sentiment
The American Association of Individual Investors reported sentiment data for the week ending December 12, 2018. The sentiment survey reported the largest change in the difference between bullish and bearish sentiment since April 11, 2013.
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Tight Labor Market A Headwind For Business Sentiment
Although the November NFIB Small Business Optimism Index remains at a high level of 104.8, today's report is the third consecutive decline in the index.
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Investment Fund Outflows Dominate
The most recent flow data for ETF's and mutual funds reported by ICI last week notes outflows occurred in nearly all of the broad asset categories. One exception was a small positive flow into commodity oriented investments.
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GM Restructuring News Not A Sign Of A Slowing Economy
Yesterday General Motors (GM) announced a restructuring that will cut 14,000 positions and the possibility of closing five auto manufacturing plants. Some headlines attributed the restructuring to an economy that may be slowing.
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Low Level Of Bullishness Means Equity Market Market Bottom Maybe Near
Today's Sentiment Survey report from the American Association of Individual Investors noted individual investor bullish sentiment decline 9.8 percentage points to 25.3%.
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Comments

Latest Comments
If Earnings Matter, Equity Valuation Looks Attractive
5 months ago

The 9.7% does seem like a sharp reversal lower, but the YOY comparison in 2019 back to 2018 is going to difficult to to the larger 2018 result, i.e., 'base effects'. Also, the 9ish percent growth rate is near where earnings estimates stood in December 2017, prior to the tax cut benefits. Certainly, if reinvestment translates to higher sales, earnings growth could be quite a bit higher than the 9.7% anticipated at this point in time.

Thanks for the comment Zev.

David

Dogs Of The Dow Continue To Exhibit Strength
2 years ago

Readers may find the article, Supply Side Recession vs. Demand Side Expansion, of interest. The article points to the commodity weakness to one of excess supply versus weaker demand. www.financialsense.com/.../supply-side-recession-demand-expansion

In this article: CAT, CVX, IBM, MRK, PFE, PG, VZ, WMT, XOM, CSCO
1 to 2 of 2 comments

STOCKS I FOLLOW

AFL AFLAC Incorporated
AOD Alpine Total Dynamic Dividend Fund
BAC Bank of America Corporation
BBT BB&T Corporation
DCI Donaldson Co Inc.
DIA SPDR Dow Jones Industrial Average
DOV Dover Corp
EMR Emerson Electric Co.
FNMA Fannie Mae
FXI iShares China Large-Cap
GLD SPDR Gold Trust ETF
HIHO Highway Holdings Limited
HRL Hormel Foods Corporation
ITOT iShares Core S&P Total U.S. Stock Market ETF
IYR iShares Dow Jones U.S. Real Estate Index Fund
LLTC Linear Technology Corporation
MCD McDonald's Corporation
MDT Medtronic Inc.
MSFT Microsoft Corporation
NUE Nucor Corporation
ORCL Oracle Corporation
PAYX Paychex Inc.
PEP PepsiCo Inc.
PG Procter & Gamble Co.
RPM RPM International Inc.
SNV Synovus Financial Corp.
SPY SPDR S&P 500
SVU SUPERVALU INC.
SWK Stanley Black & Decker Inc.
SYK Stryker Corporation
SYY SYSCO Corporation
TGT Target Corporation
TJX TJX Companies Inc.
TROW T. Rowe Price Group Inc.
UTX United Technologies Corporation
VVC Vectren Corp
WBA Walgreens Boots Alliance, Inc.
WFC Wells Fargo & Co.
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PERSONAL BLOG

Latest Posts
Individual Investors Like The FANG's Ex Alphabet
The FANG's ex Alphabet (GOOGL) continue to draw investor interest. The only top 10 stock seeing net selling activity is Gilead Sciences (GILD)

Work Experience

Principal and Portfolio Manager
HORAN Capital Advisors
May 2010 - Present (8 years 9 months)

Work with clients in portfolio construction, security selection, development of investment policies and portfolio allocation strategies.

Vice President
Fifth Third Bank
December 2002 - May 2010 (7 years 7 months)

Also Portfolio Manager

Vice President
PNC Advisors
October 1991 - December 2002 (11 years 4 months)

Also Portfolio Manager

Education

Xavier University - Williams College of Business
MBA
1989 / 1991
Accounting
Indiana University - Kelley School of Business
BS
1981 / 1984
Finance

Publications