America's malls are dying. Malls built around antiquated big box retailers are fighting for their lives. The big retail stores are having their lunch eaten by Amazon.com. For malls looking to reinvent themselves, experiences matter. Malls offering movie theaters, gyms, arcades, and better dining options are finding more success. AFP reports: Yet mall developers dismiss talk of their demise despite today's retail industry travails. "I will tell you, it's not a very fun environment," David Simon, chief executive of the real estate investment trust Simon Property Group, said recently … [Read more...]
Archives for August 2017
These Manufacturers are Avoiding Amazon
It turns out, being part of the largest e-commerce retail operation in America isn't something every manufacturer wants. Manufacturers looking to protect their local sellers and their brand images are trying everything to differentiate their products and to keep them off of Amazon.com. Ruth Simon reports at The Wall Street Journal that brands are using technology, exclusivity, and price controls to prevent Amazon from controlling all of their business. Some manufacturers are enforcing minimum advertised prices to make it harder for online sellers to undercut local merchants, while others give … [Read more...]
My Concerns with the Vanguard Effect on Your Family’s Survival
You gotta love low prices. Look at what Amazon has done to retail with my Bezos Law. Look at what Vanguard has done to lower investment fees, a revolution known as the “Vanguard effect.” The Vanguard Effect drove down prices on index funds, making them much more affordable than actively managed funds. With interest rates set by the Federal Reserve so low, and stock prices climbing with seemingly no end, index funds have been racing higher in price. The high valuations on index funds could leave investors and their families in trouble after a bear market correction. Low fee … [Read more...]
This is why You Should Avoid IPOs
Blue Apron, the meal-kit delivery service, went public earlier this summer. Since the IPO, the stock has cratered. The shares are down 50% in just over two months. At Young Research, we have long advised against participating in IPOs. Don’t forget that for every buyer in the stock market there is a seller and when you are the buyer of an IPO, the seller is often the owner, CEO, and/or founder. If the founding CEO of a business is unloading shares on the public, do you really want to take the other side of that trade? … [Read more...]
Harley-Davidson: Young Research’s Stock of the 90s
Dow Jones Industrial Average 30 Stocks
Robot Investing Hits the Skids
As soon as an investment strategy becomes too crowded, it begins to lose its edge. It is the lesson that never seems to sink in on Wall Street. There is always a reason why this time will be different. Quant funds and smart-beta ETFs are today’s example. Both have been sold as a panacea to replace investment managers. Who needs humans when you can run a couple of computer screens for low P/E stocks or high momentum shares? Based on the fund flows into these strategies, this is apparently the thinking of many self-proclaimed investment advisors (self-proclaimed because, let’s get serious, do … [Read more...]
An Online Resurrection for Beaten Brick and Mortar Brands
Clothing retail brands with long histories in America's shopping malls have been under attack for a few years now. Stores like Wet Seal, American Apparel, The Limited and others have been pushed out of their shopping mall sanctums by bankruptcy and liquidation. Now companies that handle online orders are making it easy for these brands to rise again as online only stores. The Wall Street Journal reports: Investors snapped up Wet Seal, American Apparel and The Limited, betting fickle consumers who long ago stopped visiting their shops would flock to new online-only storefronts. Companies … [Read more...]
FANGs in the Cross Hairs
The FANG stocks have been some of the hottest stocks YTD. As some investors tell it, the FANGs are rising because they are winner take all businesses. There is and will be no viable competition. In other words the investment thesis for the FANG stocks is "this time is different." Here, the WSJ explains that this time isn’t different. Disney is ending its deal with Netflix and starting a new streaming service of its own. CBS signaled earlier this week that it wasn’t going to sign global licensing agreements with Netflix in the future either. Walt Disney Co. just became the biggest … [Read more...]
What Investors Tell Me in 17 Seconds Without Saying a Word
You may be surprised by this, but one of the most common things I hear from prospective clients of Richard C. Young’s investment firm is this: “I’ve been reading him for years and I have no debt.” I have no debt. And with that I know I’ve found someone I can work with. Over the past 19 years of talking with thousands of prospective clients, it often takes me about 17 seconds to know if we’re going to have a happy relationship. It’s simply something I’ve figured out over the years. It’s not scientific. It’s not an algorithm. It’s more a feeling. I guess it’s more about one’s … [Read more...]
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