David Trainer | TalkMarkets | Page 27
CEO of New Constructs, LLC.
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

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How To Value A Stock, Step 3: Economic Earnings
When determining the weighting of the cost of debt and equity, we use market values where possible.
True Fund Costs: Industrials Sector
This report focuses on providing investors the true costs incurred when investing in Industrials ETFs and mutual funds.
Stock Picking Grades For ETFs And Mutual Funds: Financials Sector
Even “passive” investors should be analyzing the holdings of their funds.
True Fund Costs: Energy Sector
The average TAC for ETFs in this sector is 0.55% and for mutual funds it is 2.57%.
Stock Picking Grades For ETFs And Mutual Funds: Energy Sector
ith no quality ETFs it is not surprising where investors are placing their money. Investing in Energy ETFs forces money into poorly rated ETFs.
Stock Picking Grades For ETFs And Mutual Funds: Consumer Staples Sector
This report shows how well Consumer Staples ETFs and mutual fund managers pick stocks. We juxtapose our Portfolio Management rating on funds, which grades managers based on the quality of the stocks they choose, with the number of good stocks available in the sector.
True Fund Costs: Consumer Staples Sector
This report focuses on providing investors the true costs incurred when investing in Consumer Staples ETFs and mutual funds.
True Fund Costs: Consumer Discretionary Sector
The average TAC for ETFs in this sector is 0.52% and for mutual funds it is 2.71% We recommend investors focus on funds with TACs that are below these averages.
Sector Rankings For ETFs & Mutual Funds
At the beginning of the fourth quarter of 2014, only the Industrials and Consumer Staples sectors earn an Attractive-or-better rating.
Danger Zone: Oxford Industries
You can’t grow a company with declining cash flows and profits.
Strike While The Iron Is Hot: Stryker (SYK)
Stryker (SYK) is a rarity in the current market: a strong business with a stock that is still attractively valued.
Small Cap Value Style
The Small Cap Value style ranks twelfth out of the twelve fund styles as detailed in my Style Rankings for ETFs and Mutual Funds report.
Small Cap Growth Style
The Small Cap Growth style ranks tenth out of the twelve fund styles as detailed in my Style Rankings for ETFs and Mutual Funds report. It gets my Dangerous rating, which is based on aggregation of ratings of 11 ETFs and 464 mutual funds in the Small Cap Growth style as of July 31, 2014.
Small Cap Blend Style
Mutual fund managers allocate too much capital to low-quality stocks and Small Cap Blend ETFs hold poor quality stocks.
Has The Morningstar Rating System Become A Costly Prophecy For Mutual Fund Investors?
Ignoring something new because something old is familiar makes you comfortable. Because you are comfortable that doesn’t mean you are safe. Following the herd can leave you without choice.
3 Reasons Why Amazon’s “Cash Flow” Is A Trap
Most investors know that Amazon reports either low or negative earnings on a regular basis despite its annual revenue of roughly $75 billion.
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