Salient to Investors: Brian Jacobsen at Wells Fargo Advantage Funds maintains an overweight rating on tech stocks because their gains show a “hand off” is starting, as investors move into industries that could outperform benchmarks later in the economic expansion. Jacobsen says higher interest rates historically bode well for tech stocks,
READ MORE... →Salient to Investors: Jonathan Golub at UBS recommends overweighting consumer-discretionary stocks. Golub said consumer strength will have a positive impact on a host of industries, whereas businesses remain hesitant to put cash to work. Golub is neutral on industrial and tech stocks. The consumer-discretionary index is the top performer among the S&P 500’s
READ MORE... →Salient to Investors: 5 of the 10 best-paid CFOs in 2012 worked in tech. The average effective tax rate for S&P 500 companies in 2012 was 41 percent versus less than 30 percent for the 9 tech companies with CFOs who ranked among the 25 highest-paid last year. The US
READ MORE... →Salient to Investors: Tech, energy and financial stocks are the most inexpensive industries in the S&P 500 with multiples of less than 14 times earnings. US tech stocks, the second-best industry of the past decade, are at 13 times projected earnings, the lowest level versus the S&P 500 in at least 7 years. Analysts
READ MORE... →Salient to Investors: Piper Jaffray says new research shows: Teens are growing tired of Facebook and YouTube – which could have wide-ranging effects on retail, fashion, gaming, and other youth-oriented industries. The new hot teen channels in social media are Reddit, Twitter, Snapchat, Vine, and 4chan. Abercrombie & Fitch and
READ MORE... →Salient to Investors: Paul Farrell writes: We are at a market top and an economic turning point. Bernanke’s non-stop cheap-and-easy-money printing presses are loved by Wall Street banks but are bad for the rest of America. His reappointment – certain to become Obama’s greatest domestic blunder – so shocked Nassim Taleb
READ MORE... →Salient to Investors: Hedge funds Viking Global Investors, Third Point, and Omega Advisors all sold their entire positions in Apple in Q4 2012. Hedge funds Lone Pine Capital, Eton Park Capital Mgmt, Tiger Global Mgmt, and Jana Partners all sold shares. Hedge funds Appaloosa Mgmt, David Einhorn’s Greenlight Capital, John Paul Tudor’s Tudor
READ MORE... →Salient to Investors: Analysts have cut price targets by 21 percent since the stock peaked in September 2012. Apple is trading at 10.6 times reported earnings versus the S&P 500’s multiple of 15, near the widest discount since December 2000. The last time Apple traded at such a discount, it went on to
READ MORE... →Salient to Investors: Google Chairman Eric Schmidt is to sell as much as 42 percent of his holdings for asset diversification and liquidity. Read the full article at http://www.bloomberg.com/news/2013-02-08/google-s-schmidt-sets-plan-to-sell-as-much-42-of-share-holdings.html Free email alerts of articles as soon as they are posted.
READ MORE... →Salient to Investors: A. Gary Shilling at A. Gary Shilling & Co writes: Investor zeal for yield and disregard for risk favors the junkiest of the junk. When the grand disconnect between investor focus on the immense liquidity created by central banks and weak and weakening global economies becomes unsustainable, probably
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