Rachael Granby

Long/short equity, long-term horizon
Rachael Granby
Long/short equity, long-term horizon
Contributor since: 2008
David, thank you so much for everything you've done and everything you've built. It's amazing to see how far SA has come and we'll continue to work hard to keep you proud of the company's progress!
DWD Investing,
It's a good question. I would answer simply that different contributors have different motivations for writing on SA, and I suspect that won't change. Some like publishing on SA because they are working to build their personal brand, others to get more clients for their hedge funds and/or other professional services they offer outside SA. Some will keep writing on SA because they don't have a subscriber cap and the more they publish strong analysis, the more subscribers they'll attract. And the reason that I think often gets overlooked in these discussions - that many, many contributors write on SA because they enjoy sharing their investment ideas and discussing the various pros and cons with their investor peers on our platform.
So yes, it's possible that Chris DeMuth will reach his 1,000 subscriber cap and stop publishing articles (though, knowing Chris, I can't imagine that he would stop publishing just because he reached his subscriber cap). But the overall value proposition for writing on SA is still there, and (IMHO) stronger than ever.
Hey Lambros,
You've hit the nail on the head, as what you've described is exactly what we intend. We agree that SA is the best platform around to reach a broad audience and to present your work to a range of investors. The premium service isn't meant to replace or diminish that. Quite the opposite - in order to get premium subscribers, contributors will need to continue to publish strong, compelling analysis on the free part of the site. So you get the best of both worlds - exposure to a large audience of free readers, and the financial flexibility to provide additional above-and-beyond analysis/offerings to a smaller group of paying subscribers.
Vicad, you can cancel at any time for a full refund on the balance of your subscription. So if you sign up and decide after a week that it's not for you, you'll only pay for that week.
We're really excited to give both readers and contributors the opportunity to find the premium services that are right for them, so we've opted for this highly flexible cancellation policy so everyone feels comfortable testing different services out.
We wouldn't repost without permission. We've spoken to the relevant parties and gotten approval to share Mr. Bernanke's columns on Seeking Alpha. These first few posts were columns Mr. Bernanke posted recently. Going forward, you'll be seeing the posts here without any significant delay.
Hi Sheldond,
Thanks for sharing your thoughts.
As you mentioned, we do champion the crowd-sourced nature of our platform. We believe that an open platform which allows for rigorous debate helps investors make better decisions, and the recent Purdue study confirmed the incredible predictive nature of SA's crowd-sourced platform with regards to short- and long-term stock movement. (You can find more details about that study here: http://seekingalpha.co...)
We don't want to create classes of "haves" and "have nots," nor do we believe that we have done so. Most research platforms either keep their research behind a paywall forever, or share only a small fraction of their research publicly. At Seeking Alpha, ~90% of our research is publicly available from the moment of publication. Approximately 10% of SA's research is selected for the PRO subscription service, and each and every PRO article is made available to all of Seeking Alpha's audience after the initial 24 hours. This gives our audience of over 3.1 million registered users and 9 million monthly unique visitors unprecedented access to research targeted at institutional investors.
Our PRO service is primarily geared at buysiders and other market professionals, but we're always looking for ways to provide additional value to the entire SA community. In the past 12 months alone, we've brought on-board 1,680 new contributors (bringing our total to nearly 9,000), launched a new article category spotlighting analysis by industry experts, simplified the site navigation, and rolled out a significant update to our mobile apps. All SA users have free access to over 470,000 articles and over 4,000,000 comments (no, those are not typos).
We will continue to do our best to provide value for the entire SA audience. I'd love to hear any additional suggestions you may have; feel free to contact me via direct message.
Rachael Granby
Director, SA PRO
Thanks for your comment. I wanted to clarify a key point about SA PRO. We do publish excellent articles as part of our PRO subscription platform, and this platform is indeed geared at market professionals, but ALL site users - whether they're subscribers or not - have a window to read each PRO article.
PRO subscribers get a 24-hour early look at our PRO research. After the initial 24 hours, the articles are made publicly available to the entire Seeking Alpha audience, and you can find them on quote pages, the homepage, in the various SA newsletters, etc. Those articles remain publicly available to SA users for 30 days, and then enter the PRO research library which is available exclusively to subscribers.
We've published over 6,300 PRO articles so far, all of which were available to all SA users for 30 days. Subscribers continue to get access to these articles, providing them with unparalleled coverage of small- and mid-cap stocks.
In other words, everyone wins.
Rachael Granby
Seeking Alpha PRO
For apples to apples, as you say, I also included this in my original comment:
"30-day return of all Alpha-Rich ideas: 4.8% (vs. 2.01% SPDR S&P 500 return)"
A few readers have asked about the Alpha-Rich calls that we now include in Wall Street Breakfast. In particular, deercreekvols wanted to know if all Alpha-Rich articles are "winners."
The short answer, of course, is that no, not every Alpha-Rich article outperforms, though the aggregate performance is excellent (details below).
SA Pro subscribers get early access to Alpha-Rich articles, which contain high-conviction long or short opportunities. These articles are made publicly available 24 hours later. In each Wall Street Breakfast, we highlight two Alpha-Rich articles that have recently become publicly available (that's the "Alpha-Rich Stocks To Watch" section) and two articles that have performed exceptionally well.
We choose to highlight the exceptional performers because we're proud of how well out contributors have called these opportunities, because Alpha-Rich articles are consistently of a high caliber and because we want to communicate to readers the value inherent in a Pro subscription.
As of the beginning of July, Alpha-Rich articles in aggregate have outperformed the market:
2-day return of all Alpha-Rich ideas: 1.1% (vs. 0.17% SPDR S&P 500 return)
30-day return of all Alpha-Rich ideas: 4.8% (vs. 2.01% SPDR S&P 500 return)
30-day performance of the top 20% of all Alpha-Rich ideas: 29% (vs. 1.65% SPDR S&P 500 return)
You're welcome to check out the full list of Alpha-Rich articles here (http://bit.ly/16DBQvr) or in the Alpha-Rich section of the homepage.
For more information about SA Pro or our Alpha-Rich articles, you can contact me via direct message, or read more here (http://bit.ly/QEO4Ta).
Director, SA Pro (and proud former author of WSB. Nice to see some familiar faces here, and some new ones.)
As per Jeffrey Dow Jones' request, a paragraph in the article has been amended to reflect the 'Special Dividend' that rwagner467 pointed out. Thanks everyone.
Hi Shmoo-
We've made a few changes to Wall Street Breakfast recently, as you've noticed. Our goal is to make WSB both incredibly useful and easy to read, whether on a mobile device or on the website. To this end, we're trying out a format where we include only the links that provide the most value for our readers - in this case, deeper opinion and analysis of the topics at hand.
When a story is an exclusive, we of course provide attribution to the original source. As you noted, this is important for preserving the integrity of the site. In the case of the Social Security story you mentioned, though Bloomberg and other sites carried the news, the original source is actually the government report referenced above, which can be found here: http://1.usa.gov/JWiWEU
Your feedback, and the feedback of all our readers, is crucial to making WSB the fantastic product it is, so please keep the comments coming.
Congrats to SA, and to our awesome contributors and users. Keep up the good work everyone!
Kinder Morgan is looking to offload EP's exploration and production business and will use the proceeds of the sale to pay down some of the debt KMI is taking on to fund its El Paso purchase.
Yes, here's the link: http://s.nikkei.com/xV...
Hi Frank-
It's a fair criticism. On the one hand, we do try to limit how often we link to articles behind paywalls. On the other hand, we would be doing Market Currents readers a disservice if we skipped salient stories simply because some sources are behind a paywall, especially when we're talking about such a mainstream source as the WSJ. As a middle ground, we provide the in-text link as a courtesy but generally try to encapsulate the crux of the story in the Market Current itself. That way, those who want to click through for additional information can do so and can handle the paywall as they see fit. For those who don't want to click through or don't have a subscription, the MC should suffice.
Hope this helps, and thanks for the feedback.
~Rachael Granby
Deputy Managing Editor, Market Currents
Hi WSB Readers:
We're still soliciting feedback about the new WSB format, which has been simplified to make it easier to read on mobile devices. In particular, what are your thoughts about the earnings section at the bottom? Do you prefer the condensed version currently provided, with a link to more details? Or do you prefer that the full earnings list be included in WSB itself, even if the list becomes quite lengthy during earnings season?
Please weigh in on this or any other comments/suggestions you may have.
Thanks for your comment. An earlier version of this post had incorrectly included the ticker for Merck & Co. instead of Merck KGaA. The post has since been fixed.
Thanks everyone for the feedback thus far about the formatting changes. Keep the suggestions coming!
So did we! It was a good way to kick off the morning, and Wall Street Breakfast. But we're trying to ensure that WSB is as great a product when read on a mobile phone as it is when read on the site, and unfortunately the cup was crowding out WSB's content.
The earnings summary, plus earnings from lots of stocks that didn't make the summary, can be found on the Market Currents earnings page (here: seekingalpha.com/curre...).
The link is also included above in WSB, next to "Earnings Results."
Excluding the impact of the $600M U.K. bank payroll tax and a $550M SEC settlement, diluted EPS was $2.75. Including those charges, EPS was $1.85.
The post has been edited to make that distinction clearer. Thanks.
More details:
-AT&T had cited spectrum shortages as the main reason behind its decision to buy T-Mobile USA. The FCC wants to see additional information on the shortages claims, as well as details about under-used capacity, the companies' future plans and what drove certain subscribers to change companies.
-The FCC is also looking for information on AT&T/T-Mobile's potential plans to change the prices or other terms for providing "backhaul" to small carriers.
More details here: www.reuters.com/articl...
More details:
-AT&T Chairman Randall Stephenson testified in front of the House subcommittee on intellectual property, competition and the Internet yesterday, and tried to spin the deal as a way to reach out to under-served parts of the country.
-Lawmakers were blunt about their skepticism but it's unclear whether that will have any practical impact on the deal's future, as the panel has no direct say on whether the deal can go forward.
-Meanwhile, over in California, state regulators said yesterday that they plan to investigate the deal. Louisiana has signaled it will likely launch an investigation as well.
More details here: www.reuters.com/articl...
and here:online.wsj.com/article...
More details:
-Citi is relying on the "safe harbor" provisions written into U.S. bankruptcy law, which allow certain financial transactions to be excluded from creditors' asset pool. The aim is to incentivize banks to keep providing key services to clients who face potential insolvency.
-Citi claims Lehman's collapse resulted in $1.26B of costs related to forex clearing, so even after keeping the collateral, Citi is still facing a net loss.
-Earlier this month, JPMorgan made similar "safe harbor" arguments to try to counter an $8.6B claim from Lehman's trustee.
More details here: www.reuters.com/articl...
More details from Big Lots' earnings report:
-EPS revisions based on estimated FY'11 comparable store sales of flat to -2%, and operating profit rate in the range of 6.9-7.2%.
-Cash flow guidance revised to $185M from $205M prior guidance.
Great finds so far. Check out this post, from your suggestions: seekingalpha.com/curre...
MC editors will be checking back to this page throughout the morning for your updates...
The reason I didn't cover Goldman in today's Wall Street Breakfast is because WSB gets published at 7:15am and GS released its earnings at 8am.
GS' earnings is certainly a story worth talking about, and there's plenty of coverage on the site. Here's a good place to start: seekingalpha.com/symbo...
You're correct, Paris is open and trading, and up 1.7% as of 7:00 ET.
You're right. The numbers are for the week ending Dec. 17.
You can find the MBA press release here: www.mortgagebankers.or...
Tacosusio and WeC:
I see where the confusion is coming from; thanks for your comments.
The format that SA uses for reporting earnings is:
actual revenue (% gain/loss Y/Y) vs. analysts' expectations for revenue
In this case, Dell's $15.4B of revenue was slightly shy of the $15.8B Wall Street consensus.
Hope this cleared things up a bit.
Dr. Poly-
Thanks for catching this typo. The post has been corrected.
Indeed! Nice catch, MicrocapMan.
The error has been corrected.