Idea Lab
Business Income: What Is It And Who Cares?
We all know the hazards of using data from the past to support assumptions about the future. Less widely discussed, however, are the challenges in using historical data to tell us about the past. My tendency to fuss over a metric I refer to as "Business Income" represents an effort to address this. It's still a work in progress. But efforts like this are important if we are to get databases to tell us what we think they're telling us.
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Idea Lab
New Portfolio123 Ranking Systems
A new collection of Portfolio123 ranking systems is now available. These are style-based models that touch on the major approaches used by most investors who emphasize fundamentals. The collection also includes two comprehensive ranking systems built up by combining the individual style-based models.
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Models
All-Star Stock Strategies: Trading Liquidity
It seems obvious that it would be worthwhile to impose some sort of rule or rules relating to trading volume, value traded (number of shares traded multiplied by price per share) or market capitalization in order to enhance the likelihood that stocks identified in a particular model should be tradable in the real world, on reasonable terms. Actually, though, this can be quite a delicate matter.
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Idea Lab
2010 Prospects: A Mega-Trend Perspective
When it comes to rhetoric, 2009 followed the script as well as can be expected: Stock prices have roared well ahead of earnings. If investors aren't careful . . . yada, yada, yada . . . you know. We've also heard much about the lost decade and the horrible economic obstacles still before us. Actually, though, if we add some perspective, we may see that there's more reason for optimism than many realize.
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