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Christopher Grosvenor, CMT

 
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  • Why You Should Sell Shares Of Oracle [View article]
    How does that sell off taste?
    Mar 20, 2013. 04:14 PM | Likes Like |Link to Comment
  • Why You Should Sell Shares Of Oracle [View article]
    How does that huge sell off taste mixed with...
    Mar 20, 2013. 04:14 PM | Likes Like |Link to Comment
  • Why Investors Should Reduce Long-Equity Exposure To U.S. Bancorp [View article]
    I agree. My main point is that over the next 3 months, there is some downside risk to the valuation.
    Mar 12, 2013. 06:56 PM | Likes Like |Link to Comment
  • Why Investors Should Reduce Long-Equity Exposure To U.S. Bancorp [View article]
    I'll look at the trend in the valuations as well as the absolute levels. I used both price-interet income and price-net income applicable to common shareholders. That last ratio should be close to the price-earnings number. Basically, I think the valuations are closer to an intermediate-term peak than a trough.

    That said, to paraphrase Wells Fargo's Gina Martin Adams, "Why use a 10-year average multiple? Why not a 5-year average or a 15-year average?" We tend to view multiplier model valuations similarly. If you use a 10-year average, you run the risk of having to wait a long time for the stock to get back to the average. Then, at what point do you admit that you are wrong?

    I think it is a better bet to view valuations within the current investment climate rather than through the lens of a long-term moving average. For example, salesforce.com is overvalued. I won't short sell the stock because in the current investment climate, generally bullish fundamental trends, it doesn't make sense to short sell it.

    I hope that helps.
    Mar 12, 2013. 04:35 PM | Likes Like |Link to Comment
  • Why Wells Fargo May Be Overvalued [View article]
    What are saying, doesn't make sense. Thank you for reading the article and expressing your opinion, but my articles aren't written with retail investors in mind; they are written for professional investors. Thank you for your time!
    Feb 26, 2013. 11:56 AM | 1 Like Like |Link to Comment
  • Why Wells Fargo May Be Overvalued [View article]
    I don't think you understand the article.
    Feb 26, 2013. 11:51 AM | Likes Like |Link to Comment
  • Why Wells Fargo May Be Overvalued [View article]
    Retail investors read sell-side research for buy, sell, or hold ratings: professional investors read it for other reasons.
    Feb 26, 2013. 11:49 AM | Likes Like |Link to Comment
  • Why Bank Of America Is Overvalued [View article]
    BAC continues to underperform the market. On a risk-adjusted basis the underperformance is possibly worse. Increasing the dividend doesn't make a bad company a good company.
    Feb 16, 2013. 03:39 AM | Likes Like |Link to Comment
  • Why Bank Of America Is Overvalued [View article]
    Honestly, the articulation of your points wasn't professional.
    Feb 16, 2013. 03:37 AM | Likes Like |Link to Comment
  • Why Bank Of America Is Overvalued [View article]
    That isn't an accurate assessment.
    Feb 16, 2013. 03:27 AM | Likes Like |Link to Comment
  • Why Bank Of America Is Overvalued [View article]
    Not isn't an accurate assessment.
    Feb 16, 2013. 03:27 AM | Likes Like |Link to Comment
  • Why Bank Of America Is Overvalued [View article]
    Your assessment is less than accurate.
    Feb 16, 2013. 03:25 AM | Likes Like |Link to Comment
  • Why Bank Of America Is Overvalued [View article]
    BAC isn't above it's 2009 high.
    Feb 15, 2013. 02:06 PM | Likes Like |Link to Comment
  • Citigroup Shares May Rise 50 Percent [View article]
    With that said, general business conditions remain positive and shares of Citigroup (C) could continue to increase in price.
    Feb 8, 2013. 11:24 AM | Likes Like |Link to Comment
  • Why Investors Should Accumulate Shares Of Lorillard [View article]
    It is much more complex than I demonstrate here.
    Jan 16, 2013. 05:54 PM | Likes Like |Link to Comment
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