You’ll like this story about Yeti Coolers—a small company founded by two brothers with a great idea. A small private-equity firm is about to get a big payoff from a bet on $400 coolers. If all goes as hoped, Cortec Group, with just 20 employees in Midtown Manhattan, could make a profit on paper of about $3.3 billion in the coming initial public offering of Yeti Holdings Inc., according to people familiar with the matter. The company is seeking a valuation of $5 billion in its IPO, which could come as soon as October, the people said. Cortec bought a roughly two-thirds stake in 2012 for … [Read more...]
Is one of the World’s Largest Banks in a Death Spiral?
Deutsche Bank is one of the world's largest and most important banks and its shares are cratering. The stock is down over 50% YTD and it is taking a beating again this morning. Over the weekend, it was reported that German Chancellor, Angela Merkel ruled out giving the bank state-aid. That may have been a mistake as investors now smell blood. If Deutsche Bank's counter-parties start backing away from doing business with the bank and the German government doesn't come to its rescue, there may be no way for the bank to recover. … [Read more...]
The Future of Solar Power Is Under Construction
MIT Technology Review tells readers about the amazing rebirth in Buffalo. In a industrial park near the shore of Lake Erie, hard by the Buffalo River, the future of the solar power industry is under construction. SolarCity’s sprawling Buffalo factory, built and paid for by the state of New York, is nearing completion and will soon begin producing some of the most efficient solar panels available commercially. Capable of making 10,000 solar panels a day, or one gigawatt of solar capacity a year, it will be the largest solar manufacturing plant in North America and one of the biggest in the … [Read more...]
The Start of a Merger Frenzy in the Pipeline Sector?
There are few publicly traded businesses that have better economics than oil and gas pipelines. The business is simple. The pipeline companies dig a hole, lay some pipe, and collect a relatively stable revenue stream that is often inflation adjusted. The barriers-to-entry are high, and maintenance capital spending requirements are low. The downside: investors in pipelines have to periodically deal with their fellow shareholders losing their heads and causing unnecessary price volatility. The most recent bout of volatility came last fall when the Alerian MLP index lost 40% over about a six … [Read more...]
Can There Be Any Future for Intel, EMC, Dell and HP?
Wired digs into the past and examines the future for these computer giants. What you read will surprise you. Wired tells readers: HP. DELL. EMC. Intel. The giants of computer hardware aren’t what they were ten years ago. Heck, they’re aren’t even what they were five years ago—or, for that matter, just a few months ago. These hardware giants realize that the technology landscape is shifting. With the rise of smartphones and tablets, PCs are far less important. With the rise of cloud computing services from Google, Amazon, Microsoft, and others, many businesses can build websites and … [Read more...]
York Water Company, 200 years of Infrastructure Expertise
Energy & Infrastructure profiles one of America’s earliest public water utilities. The York Water Company is not new to the public utility business. In fact, the York, Pa.-based company is the oldest investor-owned utility in the country, getting its start nearly 200 years ago. York serves 48 municipalities within York and Adams counties, which are located about 100 miles west of Philadelphia. The Company provides customers with safe, dependable, high-quality water, wastewater and related services. York has two reservoirs, Lake Williams and Lake Redman, which together hold up to … [Read more...]
Agriculture’s Amazing Frenzy of Deal Making
The Wall Street Journal explains the cost problems of GMO seed and the huge deals being consummated in the agricultural sector. The dominance of genetically modified crops is under threat. Since their introduction to U.S. farms 20 years ago, genetically engineered seeds have become like mobile phones—multifunctional and ubiquitous. Scientists inserted genes to make crops repel insects, survive amid powerful herbicides, survive on less water and yield oils with less saturated fat, in turn eliminating farmers’ amateur chemistry. The U.S. Department of Agriculture estimates this year that … [Read more...]
Harley Davidson’s Brand New Milwaukee-Eight Motor
Harley Davidson was Young Research’s stock of the decade of the 1990s. And Harley soared! Today the breaking news at Harley Davidson is the introduction of Harley’s Milwaukee-Eight motor. With Harley-Davidson’s 2017 touring models out this fall, featuring the brand-new Milwaukee-Eight motor (see below), RealClearLife had the opportunity to interview one of the motorcycle legend’s main players—Bill Davidson, VP of the Harley-Davidson Museum and Factory Tours, who is also the great-grandson of the company’s co-founder, William Davidson Tell me about the new 2017 touring models. Why are … [Read more...]
Survival Stocks
You’ll like this story. I was catching-up with a client this morning who had been out in Colorado during and after the Brexit vote. He asked what he missed while he was gone. “Well,” I replied, “as it turns out, not much.” My client already knew that, but he knows I despise using stop-losses so we had a good laugh at the expense of the stop-loss crowd. And a crowd there is in the stop-loss world. As a refresher, a stop-loss is an order to sell a stock when it falls below a certain price. I will not use them. It’s a strategy the hedge funds love, and one that makes me uneasy. What ends … [Read more...]
LinkedIn for $26.2 Billion. Who says there’s no Inflation?
Here’s yet another example that inflation exists in several pockets of the economy thanks to the reckless monetary policy of the Federal Reserve. From today’s WSJ: The stock gains of the Obama era are partly a reflection of the resilience of American business in a tough environment, but they may also result in part from the Federal Reserve’s monetary exertions. Perhaps Mr. Hoffman decided this is the time to sell near the top. It’s clear how government policies are shaping the financing of the LinkedIn deal. As of March 31, Microsoft’s balance sheet held more than $105 billion in cash, … [Read more...]
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