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Kenneth Hackel, CFA  

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  • The Next Shoe to Drop? Corporate Pension Plans - Part I [View article]
    please go to tables are clearer-and make sure to follow my thoughts on twitter @credittrends

    For even the healthy firms which disappoint will see their stocks weakened, esp those with foreign pension and healthcare exposure

    Jun 17, 2010. 10:18 AM | 1 Like Like |Link to Comment
  • BP Cash Flow Scenario Analysis [View article]
    BP is somewhat undervalued but given their free cash flows will be cut by at least $20 bil. and probably closer to $40 bil, if not more, it is difficult to believe a big rally in the stock is forthcoming. Just remember the fates of the the formerly strong cash generators that were involved in the asbestos industry.
    Jun 16, 2010. 07:07 PM | Likes Like |Link to Comment
  • Use ROIC, Not Cost of Capital, For Superior Equity Performance [View article]
    Title was in error-should read, Use ROIC, Not EBITDA, for Superior Performance
    Jun 11, 2010. 08:50 AM | Likes Like |Link to Comment
  • A Way to Turn BP Around [View article]
    PS They were also under-insured- just a $ 1 bil cap per incident-for a meaningless amount of cash they could have taken that up to $20 bil-Am working on a deal now where insurance is vital.
    Jun 9, 2010. 12:52 PM | Likes Like |Link to Comment
  • A Way to Turn BP Around [View article]
    If courts rule it (the spill) was negligence-and there will be a lot of pressure to do so-the cost falls on BP-the $75 nil is out the window.

    With $80 in tow, I'm sure they could find insurance---BP needs to stabilize its stock to do no further damage to its cost of capital-they have are constantly in the debt markets.
    Jun 9, 2010. 12:50 PM | Likes Like |Link to Comment
  • Why We Think Stocks Will Rise [View article]
    The so-called Fed model was in fact never endorsed by the Federal Reserve. The implied discount rate mentioned in your article is in fact over 400 basis points too low compared with the comprehensive credit model used as CT Capital, and which truly measures the risk to free cash flows----see credittrends .com. For this reason stocks are near fair valuation.
    Jun 2, 2010. 06:31 AM | 4 Likes Like |Link to Comment