Archive

Thursday, September 29, 2022

The 'Innovation Dynamo' Is Driving Your Portfolio's Performance

By Joel Litman

Editor's note: Today in Empire Financial Daily, our friend and colleague Joel Litman – chief investment strategist over at our corporate affiliate Altimetry – is back... Regular readers know that Joel and his team are experts in "Uniform Accounting." They disassemble the financial statements of more than 8,000 publicly traded companies and then reassemble them […]

Thursday, September 22, 2022

You Can't Afford to Be Less Than 'Perfect' Today

By Joel Litman

U.S. corporations made too much money last year... Our economy has spent much of 2022 digesting inflationary pressures. And the effects have started to show in recent quarterly earnings. As I discussed in yesterday's essay, big banks Morgan Stanley (MS) and Goldman Sachs (GS) are concerned that we're on our way to an "earnings recession." […]

Wednesday, September 21, 2022

An 'Earnings Recession' Might Be on the Horizon

By Joel Litman

Editor's note: Today and tomorrow here at Empire Financial Daily, we're sharing essays from our friend and colleague Joel Litman over at our corporate affiliate Altimetry... Regular Empire Financial Daily readers will recognize Joel – he's a forensic accountant and CPA who has lectured at Harvard, Wharton, and the world's top CFA societies. At Altimetry, […]

Saturday, August 27, 2022

Don't Miss the Next Comeback Story Because of This Blind Spot

By Joel Litman

Peloton Interactive (PTON) looked like a rising star... The exercise-bike maker was one of the largest beneficiaries of the pandemic lockdowns. When people were trapped in their homes, Peloton's gear offered a way to stay fit. But like the lockdowns, Peloton's time on top was temporary. So many people ordered Pelotons at the height of […]

Friday, August 26, 2022

Finding the Winners on Wall Street's 'Blacklist'

By Joel Litman

Editor's note: Longtime Empire Financial Daily readers are familiar with our friend Joel Litman... Joel is the chief investment strategist of our corporate affiliate Altimetry. He's also a forensic accountant who has lectured at some of the top business schools and CFA societies in the world. At Altimetry, Joel and his team of 100-plus analysts […]

Tuesday, June 21, 2022

Interest Rates Are Rising... But It's Not Time to Panic

By Joel Litman

Editor's note: Over the past week here at Empire Financial Daily, we've been sharing insights from our friend and colleague Joel Litman over at our corporate affiliate Altimetry... As longtime readers know, Joel's "Uniform Accounting" methodology analyzes companies' financial statements – making more than 130 adjustments to uncover their real earnings and financial health. (Until […]

Thursday, June 16, 2022

Three Reasons Why You Can Beat Wall Street in Microcaps

By Joel Litman

As I explained in yesterday's essay, a lot of people are scared of investing in microcap stocks... That's why at my company Altimetry, we've created a system focused on making sure the financials are real... the management team is aligned with investor interests... and the company's true performance and valuation are compelling. We help police […]

Wednesday, June 15, 2022

The 'Wild West' of the Investing World

By Joel Litman

The land of microcap stocks is the modern 'Wild West' for investors... It's a largely unpoliced expanse. It's generally not worth it for the financial lawmen to roam this land. Out of all the U.S. and Canadian public companies with market capitalizations of more than $5 million, 65% are smaller than $1 billion... roughly 4,500 […]

Monday, June 13, 2022

Wall Street Is Lying to You

By Joel Litman

Editor's note: On Saturday, our friend and colleague Joel Litman from our corporate affiliate Altimetry explained a problem with Wall Street's understanding of accounting. This week at Empire Financial Daily, we'll be featuring more insights from Joel and his team about how the standard way that companies report their financial numbers is flawed. As he […]

Saturday, June 11, 2022

Wall Street's Worst-Kept Secret

By Joel Litman

Editor's note: Longtime Empire Financial Daily readers are familiar with our friend and colleague Joel Litman over at our corporate affiliate Altimetry... Joel is a forensic accountant and CPA who has lectured at Harvard, Wharton, and the world's top CFA societies. At Altimetry, Joel and his team use their "Uniform Accounting" methodology to analyze financial […]

Saturday, March 12, 2022

Steve Jobs' 'Final Prophecy' Is Starting to Play Out

By Joel Litman

Editor's note: In today's Weekend Edition of Empire Financial Daily, we're sharing an essay from our friend and colleague Joel Litman over at our sister company Altimetry... Joel is a forensic accountant and CPA who has lectured at Harvard, Wharton, and the world's top CFA societies. He has also worked with some of the world's […]

Saturday, January 29, 2022

The 'Hidden' Tailwind Powering Amazon's 219,000% Returns

By Joel Litman

Editor's note: Regular Empire Financial Daily readers are familiar with our friend and colleague Joel Litman... He's a forensic accountant and CPA who has lectured at Harvard, Wharton, and the world's top CFA societies. At his research firm Altimetry, Joel and his team use their unique "Uniform Accounting" methodology to analyze companies' financial statements – […]

Saturday, December 4, 2021

Cyber Monday Made the Wrong Kind of History

By Joel Litman

This year, Cyber Monday made history for all the wrong reasons... As if American consumers needed any more evidence about the ongoing supply chain issues, this year's Black Friday and Cyber Monday results tell us everything we need to know. For the first time in the promotional holiday's history, this year's Cyber Monday yielded lower […]

Saturday, November 6, 2021

This Group of Stocks Is About to Break Out

By Joel Litman

It's time to look away from the heavyweights for alpha... The past few weeks have been choppy for large-cap stocks. Investors have been set up for disappointment this earnings season, leading to short-term volatility. The large-cap S&P 500 Index and the tech-heavy Nasdaq are up 6% and 10%, respectively, since late August. Still, it hasn't […]

Saturday, October 16, 2021

Discovering Microcap 'Winners' Before Institutional Investors Do

By Joel Litman

Editor's note: In today's Weekend Edition of Empire Financial Daily, we're sharing insights from our friend and colleague Joel Litman over at our sister company Altimetry... As regular Empire Financial Daily readers know, Joel is a forensic accountant and CPA who has lectured at Harvard, Wharton, and London Business School. He has also consulted for […]

Saturday, June 26, 2021

How We Found One of Our Best Microcap Recommendations Ever

By Joel Litman

► Due diligence is important when finding potential investments – especially with companies in an under-policed part of the market... Microcaps are like the Wild West. There are a lot of bad actors out there. It also means that when a company starts to look questionable, people run for the hills. These names typically fly […]

Friday, June 25, 2021

The System Is Broken... Here's Why That Can Be a Great Thing for You

By Joel Litman

► I recently received two great questions from Phil, one of our readers... They get at the foundation of why we do what we do when making our adjustments to distorted as-reported financial statements and "why it matters" when we recreate those statements based on consistent, "Uniform Accounting" standards. Other readers have likely wondered the […]

Thursday, June 24, 2021

Three Reasons Why You Can Beat Wall Street

By Joel Litman

► As I explained in yesterday's Empire Financial Daily, we've been trying to convince our institutional clients to invest in microcaps for years. But they typically won't listen... Institutional investors shy away from microcaps for three main reasons. As a result, smart individual investors can make significant returns if they find the right ones before […]

Wednesday, June 23, 2021

The Wild West of Wall Street

By Joel Litman

► In 1880, nearly half of the territory in the U.S. was an ungoverned free-for-all... You could strike it rich. You could lose the shirt off your back. You could die trying. Nine out of 10 Americans lived either east of the Mississippi River or in a state bordering it, or in the states along […]

Tuesday, June 22, 2021

The Worst-Kept Secret on Wall Street

By Joel Litman

► In late 2010, one of our largest clients called us in a panic... One of its biggest holdings, coffee maker Green Mountain Coffee, had just received a data request from the U.S. Securities and Exchange Commission ("SEC") stating it was launching a formal investigation into the company's accounting. Our client needed to know what […]