We are selling our position in Xinyuan Real Estate (XIN) Today, Xinyuan Real Estate (XIN) announced the sudden resignation of CFO Kevin Wei for (undisclosed) “personal reasons relating to the roles and responsibility of his position.” He will stay on as an advisor until April 2014. Helen Zhang, who… Read More
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Analyst Articles
We are buying a 6 percent position in HomeAway, Inc. (AWAY) We are using some of our recently freed-up cash to buy HomeAway (AWAY), an interesting mid-cap stock found in Zevenbergen Capital, a Seattle-based hedge fund with roughly $2 billion under management. Zevenbergen is managed by a team of analysts… Read More
Call it a slow-motion shakeout. While the blue chip averages – the Dow Industrials and S&P 500 – are hovering close to their highs (the Dow actually closed at a new high yesterday), the rest of the market has begun to rollover. Whether it’s the tech shares that dominate the… Read More
Given our cautious outlook for the market in the near term and mounting concerns about the longer view, we’re maintaining our positions in the Carnival (CCL) January 32 put option and Nike (NKE) January 72.50 put option. We were early in entering the trades but the underlying stocks look to… Read More
This morning, the Bureau of Labor Statistics reported that the U.S. economy added 204,000 non-farm jobs in October (212,000 in the private sector), obliterating economists’ median prediction of 120,000. Furthermore, the August and September figures were revised upward by a total of 60,000. The strong data is especially surprising considering… Read More
Stocks appear to have run out of gas concurrent with the Federal Reserve releasing its latest policy statement last week, in which the central bank maintained the status quo with respect to quantitative easing. This is typical “sell the news” kind of action, although it’s happening in slow motion. After… Read More
There’s a bit of shuffling taking place at the top of Carnival (CCL). We wouldn’t exactly call it rearranging deck chairs on the Titanic, but the moves aren’t going to prevent the stock from falling in the near term. Howard Frank, Vice Chairman and Chief Operating Officer, will step down… Read More
We are selling MRC Global (MRC). Reference fund Marsico Flexible Capital (MFCFX) has sold its holdings of MRC Global (MRC). In accordance with our strategy of following our reference funds’ moves, we are exiting our MRC position as well. We benefited from MRC’s 5.5 percent rally on Friday after… Read More
As at its previous meeting in September, the Federal Open Market Committee (FOMC) decided this week to keep the rate of its monthly bond purchases unchanged at $85 billion. The market reacted, however, quite differently this time around. Heading into the September FOMC meeting, most observers believed that a modest… Read More
We are selling our position in Rovi Corporation (ROVI). Rovi Corporation (ROVI) disappointed once again with another bad quarter. There was growth in its core Service Provider segment, but it was not enough to offset declines in its other segments. Compared to the year-ago quarter, revenues declined 13 percent… Read More