I Don’t Eat Desserts | Vitaliy Katsenelson Contrarian Edge

I just finished a ten-page quarterly letter to clients and am taking refuge here to write about anything other than stocks. This scribble will be about a topic that I have been thinking about the last six months. I am somewhat embarrassed about it, because it’s a bit “me”-centered, and I am going to go Read more about I Don’t Eat Desserts | Vitaliy Katsenelson Contrarian Edge[…]

Exxon Mobile Think Again | Vitaliy Katsenelson Contrarian Edge

General Electric’s collapse should have served as a reminder that buying a company based solely on past reputation and dividend yield is a dangerous endeavor. GE is also a great example that dividends are not paid out of earnings, especially massaged-to-death non-GAAP earnings, but from free cash flows. GE’s non-GAAP earnings were double its dividend payment. This brings us to another American icon Read more about Exxon Mobile Think Again | Vitaliy Katsenelson Contrarian Edge[…]

How a volatile stock market turns investors into gamblers

Don’t let this wave of stock-market volatility go to your head. The value of the companies in your portfolio doesn’t change by a positive or negative 5% three times a day. Get the value right and the price will follow. For example, my firm recently met with a prospective client, a physicist who has made Read more about How a volatile stock market turns investors into gamblers[…]

Exxon Mobile Think Again | Vitaliy Katsenelson Contrarian Edge

General Electric’s collapse should have served as a reminder that buying a company based solely on past reputation and dividend yield is a dangerous endeavor. GE is also a great example that dividends are not paid out of earnings, especially massaged-to-death non-GAAP earnings, but from free cash flows. GE’s non-GAAP earnings were double its dividend payment. This brings us to another American icon Read more about Exxon Mobile Think Again | Vitaliy Katsenelson Contrarian Edge[…]