Empire Financial Daily Newsletters

June. 2021

The Biggest Mass Deception in Financial History

By Joel Litman

Empire Financial Daily,
Monday, June 21, 2021
► On Saturday, I mentioned that it was my mom who got me into the ‘truth teller’ business… When I was looking into universities and careers, she advised me simply: “Become an accountant. Learn the language of business. Then no one can pull the wool over your eyes.” My mom is a CPA. She is […]

How I Became a Stock Market 'Truth Teller'

By Joel Litman

Empire Financial Daily,
Saturday, June 19, 2021
Editor’s note: Today in the 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 one of the sharpest analysts we know. He’s a forensic accountant and CPA who’s lectured at Harvard, Wharton, and the world’s top CFA societies. His […]

The Update Issue: Restaurants Rebound… and Managers Scramble for Workers

By Berna Barshay

Empire Financial Daily,
Friday, June 18, 2021
► The restaurant business is roaring back to health… The restaurant industry was the poster child for the economic fallout of last spring’s lockdowns and the continuing drop in consumer demand for in-person experiences during the pandemic. Last May, when visibility into the future was at its worst, I wrote about the battle for survival […]

Silicon Valley Is Sick of Subsidizing Your Vacation

By Berna Barshay

Empire Financial Daily,
Thursday, June 17, 2021
► Last week, the New York Times made waves with an article titled ‘Farewell, Millennial Lifestyle Subsidy’… The idea behind the article is that venture capital (“VC”) funds have been subsidizing losses at a variety of startup business-to-consumer (“B2C”) apps that have been undercharging for their services in the quest for market share. The article […]

You Don't Have to Risk a Lot to Make a Lot

By Teeka Tiwari

Empire Financial Daily,
Wednesday, June 16, 2021
► Cryptocurrencies are the riskiest, most volatile assets the world has ever seen… Yet, many readers have become millionaires through investing in my crypto recommendations using only tiny grubstakes. Take bitcoin, for instance. I first recommended bitcoin at about $428 in April 2016. Since then, it’s gone as high as $64,863 – a 15,055% gain. […]

How to Take Charge of Your Financial Freedom in Just 24 Hours

By Teeka Tiwari

Empire Financial Daily,
Tuesday, June 15, 2021
► One of the best ways to make a fortune in the markets without waiting 30 or 40 years is by investing into an early-stage startup that grows to a multibillion-dollar valuation… We call these early-stage companies “pre-unicorns.” A unicorn is a private company with a valuation of $1 billion or more. A pre-unicorn is […]

Three Principles for a Life of Wealth

By Teeka Tiwari

Empire Financial Daily,
Monday, June 14, 2021
Editor’s note: For the next few days, the Empire Financial Research team is gathering for a lakefront retreat in New England, so we’re taking a break from our normal fare to share an exciting opportunity from Teeka Tiwari, editor at our sister company Palm Beach Research Group. Read on for the full details… I felt […]

Here's How the Pandemic Turned Me From a Bear to a Bull on This Stock

By Berna Barshay

Empire Financial Daily,
Saturday, June 12, 2021
► One of the hardest things to do as an investor is know when it’s time to change your mind about a stock… The world isn’t static, so your investing shouldn’t be either. There are countless stories of companies going from great to struggling… or just gone. A good place to look for those names […]

Harness Your Superpower to Turbocharge Your Investments

By Berna Barshay

Empire Financial Daily,
Friday, June 11, 2021
► Practically everyone has a secret superpower when it comes to investing… One asset that every retail investor has when picking stocks is his or her own unique life experience. It’s the knowledge you accumulate through school, work, reading, meeting people, and traveling. The legendary mutual-fund manager Peter Lynch ran the Fidelity Magellan mutual fund […]

Let Experience Be Your Guide to Profits

By Berna Barshay

Empire Financial Daily,
Thursday, June 10, 2021
► One thing that always baffled me over my 20-plus years on Wall Street was its obsession with youth… The careers of many hedge-fund investors mirror the trajectory of professional athletes. Promising young recruits are plucked right after graduation from colleges with strong academic programs, similar to how athletes are drafted into the professional leagues […]

How to Read Your Way to Profits

By Berna Barshay

Empire Financial Daily,
Wednesday, June 9, 2021
► They say a woman’s work is never done… While I agree that’s true, I’d add that a stock analyst’s job is never done, either. I can never seem to reach the end of my “to do” list because there’s always another stock to look at. Great analysts are notorious for suffering from “FOMO” – […]

When It Comes to Investing, Let History Be Your Friend

By Berna Barshay

Empire Financial Daily,
Tuesday, June 8, 2021
► Getting to know companies over the years can be an invaluable asset for beating the market… If you have a long memory of a company and know its history and management inside and out, it’s a lot easier to swoop in when a great buying opportunity presents itself. Companies that are otherwise unimpaired see […]

Sometimes, You Just Have to 'Kick the Tires'

By Berna Barshay

Empire Financial Daily,
Monday, June 7, 2021
► On Saturday, I wrote about the multi-bagger returns that Empire Investment Report subscribers have enjoyed in Citi Trends (CTRN)… But there was one part of the story about the small-cap retailer that I didn’t tell… When I met with newly appointed CEO David Makuen last January, I was immediately encouraged and excited that this […]

Look Where No One Else Is Looking

By Berna Barshay

Empire Financial Daily,
Saturday, June 5, 2021
► Investing is a competitive game… In the big picture, every trade has a winner and a loser. There’s always someone who sold right before a stock goes up… or vice versa. For every great stock purchase you make, someone else willingly sold you those shares. The investing business has only gotten more competitive in […]

As the World Changes, Change Your Mind or Get Left in the Dust

By Berna Barshay

Empire Financial Daily,
Friday, June 4, 2021
► Sectors that go through a lot of change – like consumer and tech, media, and telecom (‘TMT’) – offer great complexity and great opportunity… As I explained in yesterday’s Empire Financial Daily, investors who get to know a few areas really well are more likely to root out hidden assets, identify new growth companies, […]

To Beat the Market, Pick a Lane

By Berna Barshay

Empire Financial Daily,
Thursday, June 3, 2021
► When it comes to investing, you’ll do better knowing almost everything about a few areas rather than knowing a little bit about everything… Earlier this year, I attended a Columbia Business School virtual investment conference where one of the keynote speakers was legendary fund manager Bill Miller. When asked for advice on how young […]

Here We Go Again... AMC Is the New GME, But This Time with Free Popcorn

By Berna Barshay

Empire Financial Daily,
Wednesday, June 2, 2021
► The WallStreetBets crew from Reddit is back, and its latest object of affection is the stock of movie theater chain AMC Entertainment (AMC)… Like GameStop (GME) before it, shares of AMC are going parabolic. They were up 116% last week, then up 23% yesterday. As of earlier this afternoon, shares are up more than […]

ESG Investing Moves Beyond Virtue Signaling

By Berna Barshay

Empire Financial Daily,
Tuesday, June 1, 2021
► This story is like the corporate version of ‘The Little Engine That Could’… It’s about a tiny hedge fund that brought a massive corporation – one that was once the largest in the world by market cap – to its knees. This hedge fund – the aptly named Engine No. 1 – manages only […]
Whitney Tilson

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About Berna

Berna Barshay is editor of Empire Financial Daily and a contributing editor to the Empire Stock Investor and Empire Investment Report newsletters.

She graduated cum laude from Princeton University and earned her MBA from Harvard Business School in 1997.

Following her graduation, Barshay spent 20 years on Wall Street. She began her career in equity derivatives at Goldman Sachs and later worked as a buy-side equity analyst at Sanford Bernstein, where she covered global consumer cyclicals and conglomerates.

Later, Barshay spent five years working as a portfolio manager of the Ingleside Select Fund, a long/short fund with a focus on value and event-driven stocks. She later was a portfolio manager at Swiss Re, where she managed the Consumer long/short book on the equity proprietary trading desk.

She has additional experience as a buy-side analyst at several long/short hedge funds – including Sky Zone Capital, Metropolitan Capital, Buckingham Capital, and LaGrange Capital – where she primarily covered consumer and technology, media, and Internet stocks in the U.S. and Europe, with some additional work in financials and energy.

Barshay is a fashion enthusiast, a pop culture addict, obsessive indoor cycler, and prolific social media user. She currently lives in New York with her husband, daughter, and three dogs.