Category Archives: General Market Comments

Insights on the forces that shape our capital markets and the future of our country.

Disney Dumps Netflix, And So Should Investors

Investors should capitalize on the opportunity provided by Disney’s streaming service announcement and the market’s overreaction to earnings. Buy into a great company at an attractive valuation (Disney) and sell an overvalued company with holes in its business model (Netflix).

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See Us On CNBC Discussing Snap @ 4:10ET Today

Tune into CNBC on Thursday, August 10 at 4:10 pm EST. New Constructs CEO, David Trainer, will discuss Snap’s business and its current valuation.

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See Us On CNBC Discussing Apple @ 3ET Today

Tune into CNBC on Wednesday, August 2 at 3pm EST. New Constructs CEO, David Trainer, will discuss Apple’s business and its current valuation.

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Nelson Peltz On Procter & Gamble: Sign of The Future For ROIC Laggards

Linking executive compensation to ROIC could create immediate shareholder returns and drive a long-term commitment to the lean and disciplined corporate structure that Peltz wants P&G to adopt.

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Why Robo-Analysts, Not Robo-Advisors, Will Transform Investing

Robo-advisors and Robo-Analysts are both important to enabling wealth management firms to cut costs without sacrificing quality of advice, but the importance of a Robo-Analyst to enhance the quality of investment advice shouldn’t be underestimated.

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“Overvalued Tech: Verint” – Barron’s

On Saturday, Barron’s featured our research on Verint (VRNT) and the company’s misleading use of non-GAAP metrics.

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Hidden Trigger For Another (Flash) Crash: Passive Investing

When the investment process makes no effort to differentiate winners from losers, there is no diligence, no intelligent capital allocation, and, eventually, no efficient market.

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See Us On CNBC Discussing Airline Stocks @ 3:40ET Today

Tune into CNBC on Wednesday, July 12 at 3:40pm EST. New Constructs CEO, David Trainer, will discuss airline stock’s valuation and the implied market expectations across the industry.

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Value Investing Is Not Dead, But It Is Harder

We think today’s market is the best in many years for value investors, the real value investors, that is. The real value investors analyze footnotes and balance sheets in addition to income statements. 

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Winner & Losers from Amazon’s Proposed Purchase of Whole Foods

While this deal certainly could be good for AMZN, we believe the market may be ignoring some of Whole Foods Market’s off-balance sheet liabilities that make this acquisition more expensive than it appears.

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The Fed Can’t Wish Inflation Into Existence

Even with inflation running below target, the Fed chose to raise interest rates again. The Fed’s influence is overstated, but it’s still troubling that major policymakers are acting on such an outdated view of the economy.

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New Constructs is a finalist for’s 2017 Industry Awards in the “Technology Providers; Compliance” category.

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Crossing the Chasm 2.0: Rise of the Robo-Analyst

In the same way online trading disrupted the distribution of investment advice, big-data analytics and machine learning will disrupt how financial advice and the research behind it is created.

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Thomson’s 6th Annual Digital Financial Services Symposium

New Constructs is proud to sponsor Thomson’s Digital Financial Services Symposium on May 23, 2017.

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Webinar: “New Age” Analysis – Equity and Fixed Income Research Synergies

Looking for forensic accounting diligence in footnotes and other disclosures to improve risk management? Get answers to this topic and more from New Constructs and Viola Risk Advisors’ co-hosted webinar.

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A Cautionary Tale on Sell-Side Ratings

A recent analysis reported that the percentage of newly issued ratings of “sell” or “underweight” was only 5% of the total. This phenomenon is not new to regular market followers, and it was on full display surrounding the IPO of Snapchat (SNAP).

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Webinar: “New-Age” Analysis – Hard-Core Equity Valuation Tools for Fixed Income Outperformance

Join New Constructs and Viola Risk Advisors’ co-hosted webinar on Wednesday, May 10, at 11am EST.

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The Earnings Recovery Is A Sham

Our analysis of the latest 10-K filings for the 2,600 largest and most actively-traded companies shows that the much-hyped end to the earnings recession is an accounting illusion.

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David Trainer on CNBC to Discuss Chipotle (CMG)

Tune into CNBC on Tuesday, April 25, at 3:45pm EST. New Constructs CEO, David Trainer, will discuss Chipotle’s valuation and the implied market expectations embedded in the stock price.

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Top Firms Rely On Us to Fulfill Fiduciary Duty of Care

Many of the top firms in the world rely on our research to fulfill the fiduciary duty of care.

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