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...So at both ends of the spectrum, whether you’re kind of going trad. Yeah, you can’t see me, but I’m wiggling my fingers. Trad wines are natural wines....
...at the top end of guidance....
...In our view, this probably explains their strong re-rating (forward P/E of 27.2x), and why they are trading at a 110% premium to the STOXX 600 (13.0x)” wrote....
...Lucy Castledine, director of consumer investments at the FCA, said: “Promotions aren’t just about the likes, they’re about the law....
...But what’s most entertaining is that the government goes ahead and shows the professor’s ongoing work calculating Alameda’s historical balances with FTX — basically the firm’s net P&L — from last year:...
...“Brand building is so important — without brand awareness, short-term advertising doesn’t work,” he adds....
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...While he admitted that some corporate leaders are concerned over Donald Trump’s foreign policy plans, he said business “can’t do anything about geopolitics.”...
...I don’t want to read too closely into the wording of either statement, but I do think we should at least take Buffet at his word: there really is no reason to expect meaningful outperformance from Berkshire...
...None more so than the venerable De L’Europe, which has stood at the confluence of the Amstel river and two canals since 1896 and is just completing a five-year renovation....
...As such the buyout does not look too shabby at 20 times this year’s operating profit on S&P Capital IQ estimates. But with more effort management might be able to double these earnings....
...“When it’s gone, it’s gone, we can’t have a 13th team on the grid,” Dodds said. “We can’t sell it twice.”...
...Goldman estimates that the median short interest in S&P 500 companies is still remarkably low at 1.7 per cent, but is up from 1.5 per cent at the end of 2021....
...“I like the idea that materials can perform and that you don’t have to coach them....
...And yet: The Russell 2000 small-caps index has now lagged behind the S&P 500 large-capitalisation index since its inception at the end of 1978, overturning a century of return data across multiple countries...
...This chart from JP Morgan Asset Management isn’t exactly titled BTFD, but it does remind us that when the S&P 500 has just lost a cool quarter in value, the most successful thing to do has usually been to...
...“You don’t want to share prices online and, usually, people looking at the post are not buyers, they’re simply curious. There’s no impetus to buy.”...
...He still loved advertising, he assured me, and he is still working at W+K....
...Live discussions include whether the implicit price of the existing advertising model is too high....
...That doesn’t mean, as Lex argued, that the same old patent panics aren’t going to hurt the companies in the meantime. Take your medicine here....
...But he added that investors looking at the sector today were no longer convinced of growth prospects. “People aren’t prepared to pay the valuations that they did a couple of years ago,” he said....
...Before I experienced Barkley L Hendricks’ revelatory retrospective at the Studio Museum in Harlem in 2008, I had never seen more than a couple of his works at a time....
...Looking at a 20-year chart of the price/earnings valuations of the S&P 500 and its small cap sibling the S&P 600, it seems possible that this is what has happened to small stocks: Small caps (dark blue...
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