Tuesday, August 2, 2022

New Home Sales See a Return to 'Normal'... And a Comment on Opendoor

By Herb Greenberg

During the boom, you would be lucky to get yourself on a wait list for a new home, even starting in the millions – let alone get one – here in Southern California... They couldn't build them fast enough. But as the longtime sales manager for one SoCal developer told me the other day, using […]

Tuesday, July 26, 2022

Random Musings on Cars, Restaurants, Inflation... and the Mailbag

By Herb Greenberg

Random Musing No. 1 – I bought out my lease on my car over the weekend... This Mercedes SUV has been the best car I've owned and there's no reason to replace it... especially given the state of the auto market, which remains a seller's market. Plus, no way am I paying those absurdly ridiculous […]

Friday, July 22, 2022

You Knew Newspapers Were Dying, But the Numbers Are Stunning

By Herb Greenberg

When Jim Cramer lured me away from newspapers to join in 1998, people thought I was making a mistake... I was one of the first somewhat high-profile print journalists to make the shift to online from print... leaving a six-day-a-week column I had written for 10 years at the San Francisco Chronicle for a […]

Tuesday, July 5, 2022

How Carvana Became a 'Zombie Stock'

By Herb Greenberg

I've known smart people on both sides of the Carvana (CVNA) trade – investors who were long and short... Anybody long – for a good part of four years – made a bundle on the online used-car retailer, which is known for its multistory car vending machines. But as the company's results and near-round trip […]

Friday, July 1, 2022

An Inflection Point for the Market? Also, the Moral of Bed Bath & Beyond

By Herb Greenberg

Editor's note: The Empire Financial Research offices are closed on Monday in observance of Independence Day. Look for your next issue of Empire Financial Daily on Tuesday, after the Weekend Edition. There's a broad consensus that 'you ain't seen nothing yet' when it comes to this market... Everybody has a reason... higher interest rates, the […]

Tuesday, June 28, 2022

When Pension Funds Go Out on the Risk Curve... And a Desperate Move at Kellogg

By Herb Greenberg

There's a saying that I was thinking about the other day when I was reading a story in the Wall Street Journal... "Reaching for yield." That's when, for the sake of making even a little more on a supposedly conservative fixed- income investment, you buy something with a higher yield. But with higher yield comes […]

Tuesday, June 14, 2022

The Fed's Disconnect With Reality... And Readers Weigh in on PBMs and Drug Pricing

By Herb Greenberg

It's a question you hear over and over again... Is the U.S. Federal Reserve out of touch with the average American? There may be something to it, at least based on my firsthand experience... This was years ago – many years, in fact (back in the late 1980s) – but I'm willing to bet it's […]

Friday, June 10, 2022

Scrutinizing the 'Legal' Drug Cartel... And a Comment on GoodRx

By Herb Greenberg

If you take drugs for anything chronic, you'll fully understand what I'm about to say... When I saw the recent news that the Federal Trade Commission ("FTC") was going to investigate pharmacy benefit managers ("PBMs"), I thought, "It's about time." Talk about cartels... In the murky world of drug pricing, the PBMs are the middlemen […]

Tuesday, June 7, 2022

When You Know ESG Has Gone Too Far... And Is This Private Retailer Growing Too Quickly?

By Herb Greenberg

A recent move by the U.S. Securities and Exchange Commission ('SEC') is coming not a moment too soon... Specifically, the agency is on the scene to focus on bogus claims of environmental, social, and governance ("ESG") by mutual funds, exchange-traded funds ("ETFs"), and other investment vehicles. The SEC is purportedly planning to crack down on […]

Friday, May 13, 2022

How Some Companies Cheat... All So They Don't Miss Estimates

By Herb Greenberg

Here's something that somehow fell through the holes of grabbing headlines, but shows just how desperate some companies are to 'make' their numbers... It all has to do with something at quarter-end that was called "the art of the close" at Rollins (ROL), which owns the Orkin exterminating company. And it's everything you hear about […]

Tuesday, May 10, 2022

How the Stock of an Iconic Brand Unwound

By Herb Greenberg

The tale of this stock is also a tale of this market, filled with irony and luck... I call it the "Tale of the TUP"... I'm talking about Tupperware Brands (TUP), the company whose iconic brand has become the Kleenex of plastic storage containers. Last week, Tupperware reported extremely disappointing first-quarter results – so bad […]

Friday, May 6, 2022

How So Many Investors Confused Brains With a Bull Market... Also, a Note on Housing Prices

By Herb Greenberg

One hallmark of the past (fill in the blank) years is that some investors only know a world in which stocks go straight up... And that every dip is a buying opportunity in every stock. It goes for private companies, too – perhaps especially private companies, with so many born-in-a-bull-market entrepreneurs confusing brains with a […]

Tuesday, May 3, 2022

The 'Gambling Parlor' of the Markets... And Buffett, Bitcoin, and the Mailbag

By Herb Greenberg

Warren Buffett stated the obvious at Berkshire Hathaway's (BRK-B) annual meeting over the weekend when he said the markets have become a 'gambling parlor'... The reality is, they've always been. After all, the saying "play the market" has been around forever... It's Wall Street's version of "playing the ponies." The difference this time was the […]

Friday, April 29, 2022

Update: Seeing Through the Heated-Up Hype in Flying Taxis

By Herb Greenberg

Archer Aviation's (ACHR) stock spiked more than 25% this week on two pieces of news... But first, as an introduction, Archer is a fledgling flying taxi company whose single electric vertical take-off and landing ("eVTOL") aircraft has barely flown, but supposedly will be ready for prime time in less than two years. I first wrote […]

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Herb Greenberg

Herb Greenberg is a senior editor at Empire Financial Research. Previously, he was the co-founder of Pacific Square Research and Greenberg Meritz Research & Analytics – both independent, short-biased investment research firms. Greenberg spent more than 40 years as a financial journalist at some of the country's leading newspapers, websites, and broadcast media, where he covered almost every industry. He served as senior stocks commentator at CNBC and was financial correspondent at the Chicago Tribune. He also spent 10 years as the daily business columnist for the San Francisco Chronicle, during which time he started his five-year run as Fortune's monthly Against the Grain columnist and was the morning business reporter for San Francisco's KRON-TV. When the Internet and online media were still emerging, Greenberg was one of the first mainstream journalists to make the shift online, when he became senior columnist at TheStreet. He later shifted to the same role at MarketWatch. When Dow Jones bought out MarketWatch, he added a weekend investor column for the Wall Street Journal to the mix. Earlier in his career, Greenberg was a reporter at Crain's Chicago Business and a business reporter for the St. Paul Pioneer Press. He also spent a year as an analyst at a risk arbitrage firm. Greenberg holds a bachelor's degree in journalism from the University of Miami and completed the Herbert J. Davenport Fellowship at the University of Missouri.

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