Seeking Alpha

Marc Gerstein

 
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  • A Different Take On A John Galt Portfolio
    Sat, Aug. 16 BA, IFF, MMM 11 Comments

    Summary

    • This isn’t the first Seeking Alpha strategy inspired by John Galt but I love the idea.
    • My approach is different from that of my predecessor; I want visionary innovative companies.
    • For details of a model, I’ll look to Partha Mohanram, perhaps the best guru you never heard of.
  • Scavenging For Quiet Bargains
    Thu, Jun. 5 CFI, OME, NSIT 13 Comments

    Summary

    • Stock Prices (market cap) can be allocated between the part coming from value and the part coming from noise.
    • We can profit by identifying low-noise stocks that have the potential to become noisier in the future.
    • Insight Enterprises can become noisier as investors come to recognize that they may be underestimating an enterprise IT replacement cycle.
    • Culp can become noisier as investors come to appreciate the merits of the replacement matters business.
    • Omega Protein can become noisier as investors tune into the growth potential from fish oil as a nutritional supplement.
  • Tesla - Driven By Noise, But High-Quality Noise
    Editors' Pick • Sat, Apr. 5 TSLA 143 Comments

    Summary

    • The fact that TSLA stock can’t be justified on the basis of value is not a deterrent from owning the shares.
    • Market equilibrium does not require price to equal value; price actually equals value plus noise.
    • Among large-cap stocks, we can make money through noise just as readily as we can through value.
    • The key is to differentiate between high-quality noise and low-quality noise.
    • TSLA can be justified on the basis of high-quality noise; the key is to make sure you take the trouble to do the grunt work.
  • Overvaluation Is Not Necessarily A Reason To Sell
    Thu, Mar. 20 2 Comments

    Summary

    • Selling or avoiding overvalued stocks necessarily means we assume a stock ought to sell for what it’s really worth; i.e., that P (price) = V (value).
    • A better view of market equilibrium, inspired by a 1984 Robert Shiller paper, maintains that P is really equal to V plus something else, which we’ll call N (noise).
    • We can easily quantify the impact of value and noise in any stock price and take action based on an analytic framework most appropriate for that particular stock.
  • An Oddball, Sweet Spot Dividend Play
    May. 29, 2013 CTCM 10 Comments
  • Amazon, Netflix - Bullish Earnings Quality?
    May. 9, 2013 NFLX 13 Comments
  • Looking For High Yield In Out-Of-The-Way Places: Business Development Companies
    Mar. 11, 2013 PSEC, TCAP, ARCC 78 Comments
  • A Different Take On A Warren Buffett Strategy
    Editors' Pick • Feb. 12, 2013 NUS, VAR, MOG.A 28 Comments
  • A Backdoor Approach To Dividend Growth
    Editors' Pick • Nov. 28, 2012 GPC, CAG, MAT 20 Comments
  • Following Mr. Market Into Amazon: Suicidal Or Sensible?
    Oct. 26, 2012 AMZN 78 Comments
  • 5 Cash-Rich Companies With Potential Stock Catalysts
    Editors' Pick • Oct. 9, 2012 AOL, RTEC, WTSL 17 Comments
  • The Truth About Amazon's Margins
    Sep. 26, 2012 AMZN 96 Comments
  • Bear Hunting Along The Amazon
    Sep. 10, 2012 AMZN 103 Comments
  • Gold Showdown: Mining Stocks Vs. GLD
    Editors' Pick • Sep. 6, 2012 GLD 88 Comments
  • 3 Good-Yielding Residential REITs
    Aug. 28, 2012 CCG, SUI, UMH 1 Comment
  • Double Standard For Corporate Blowups
    Editors' Pick • Apr. 19, 2012 AOBI, FUELQ 14 Comments
  • High-Yield Equity Spotlight: Courier Corp.
    Apr. 12, 2012 CRRC 2 Comments
  • High-Yield Equity Spotlight: RadioShack
    Apr. 3, 2012 RSH 10 Comments
  • Growth Investing - Be Careful About Extremes
    Mar. 28, 2012 AGU, HFC, PAAS 2 Comments
  • SMF Fuel: Too Many Disturbing Questions
    Mar. 17, 2012 FUELQ 8 Comments
  • Steve Jobs By Walter Isaacson: Passion, Perfection And Contradiction
    Mar. 15, 2012 AAPL 14 Comments
  • Double-Barrel Tech Stocks With Good Stories And Fundamentals
    Feb. 7, 2012 AAPL, STX, CRUS 4 Comments
  • Forget The Value Angle, Apple Is A Pure Growth Play
    Jan. 26, 2012 AAPL 99 Comments
  • Mr. Market Is Not Undervaluing Apple
    Jan. 25, 2012 AAPL 90 Comments
  • Dividend Is Not A Four-Letter Word
    Jan. 11, 2012 AAPL, BRK.A 112 Comments
  • Precious Metals Stocks That Shine Brighter Than Gold
    Jan. 9, 2012 GLD, NSU, RVM 9 Comments
  • The Case For Investing In Gold
    Editors' Pick • Jan. 9, 2012 GLD 69 Comments
  • Happy Accidents In Oil Country
    Editors' Pick • Jan. 5, 2012 LPIH, IYE, MFRM 10 Comments
  • Exploring For Supercharged Oil Stocks
    Jan. 4, 2012 IYE, LPIH, ALJ 11 Comments
  • Oil Exposure In An Equity Portfolio: Does It Make Sense?
    Jan. 3, 2012 SPY, IYE, IEO 2 Comments
  • Profiting From Half-Hearted Analyst Coverage
    Dec. 7, 2011 DLA, HITK, TWIN Comment!
  • The Virtue Of Investment Indecisiveness
    Nov. 30, 2011 ACN, ADM, APOL 10 Comments