Rubicon Associates is headed by a Chartered Financial Analyst charter holder with over 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, he has analyzed and invested in both public and private companies around the world as well as advised institutional clients on fixed income strategies and manager selection. The principal has been responsible for managing nearly seven billion dollars in credit investments across the capital structure and overseeing the research and trading of credit market activities. Rubicon Associates has written for Seeking Alpha, Learn Bonds, a newsletter and TheStreet.com in addition to advising institutional and private investors.
Seeking Alpha's product team is responsible for the development of all of our product-related projects from start to finish. These projects include the Seeking Alpha Portfolio apps on the App Store and Google Play, our Real Time email alert product, and optimization across the Seeking Alpha website.
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SA Product Team
"To be best of breed requires a strong moat and I believe that this is something that can not be found by just looking at the numbers"
You may find my writing style to be a bit different - I heavily prioritize the business model over anything else. There are many businesses with great earnings and dividends histories - how do you know which ones will continue to prosper in the future? We must avoid investing like a stock screener and should carefully filter out companies that look good on paper but in reality posses no moat.
I am most influenced by Peter Lynch's teachings in "One up on Wall Street." I highly recommend this book for all beginning investors. I should point out that there is much more to learn from him than "buy what you know" which even is not ever said in his book. Lynch taught me to focus on understanding the business model and the free cash flow.
I hope to contribute to this stock community and keep investing fun (and profitable!)
admirer of Louise Yamada, Louis Rukeyser, Alan Ableson, Bill Griffeth, Sue Herrera (the OG of Financial TV) Market Anthropology blog..
Please do your own extensive due diligence before investing to fit your own personal situation, risk tolerance and needs.
I am a Certified Public Accountant (CPA) (prior FL; current NJ and NY license) and a Certified Financial Planner (CFP). I have also been a member of the American Institute of Certified Public Accountants (AICPA) for 18 years (CFF as well). My current title is partner at a national accounting firm. I have audit, tax, and consulting experience with entities in the following sectors: closed-end funds, energy, financials, healthcare, homebuilders, pharmaceuticals, private equity, REITs, and telecoms. I've also have experience with C-corps., estates, high net worth individuals, LLCs, LLPs, S-corps., and trusts. I am an active investor. My investing fundamentals are based on both qualitative and quantitative information. By using my financial / analytical skills, I create specific investing ideas / strategies based on valuations and total returns. The two main sectors I currently provide articles on are mortgage real estate investment trusts (mREITs) and business development companies (BDCs).
Winner of the Summer 2017 PRO Promotion
Previous Projection Articles' Performance vs. Actual Results:
# of Projections Stated Within All Articles: 257
# of Projections PENDING: 0
# of Projections 100% Accurate or Within Range: 239
# of Projections Inaccurate or Outside of Range: 18
Projection “Within Range” Success Rate: 239 / 257 = 93.0%
For a detailed list of every projection I've made at Seeking Alpha (vs. actual results), please send me a personal message ("pm") through the inbox feature (too long to list here).
Disclaimer: I cannot own and will not give an opinion on any investments my current employer has any direct or indirect professional services with (accounting, audit, tax, consulting, etc.). As such, most large-cap stocks are "off the table" regarding my articles. All accounting insight, analysis, and opinions stated within any articles I write (in regards to a specified stock) are entirely from my own personal research and analysis. I believe my articles are both informative and in some cases educational.
NOTE: A growing number of readers/investors, analysts, and representatives of firms have requested to be provided with my "spreadsheets/models" to help better understand certain companies/sectors. My researched data is several files of 100+ spreadsheets/models containing both stocks I write about on S.A. and stocks I choose to not write about on S.A. To reduce the repeated requests to provide such data, these spreadsheets/models are ALL linked together. As such, all current and future requests to "share" ALL my data/models will be politely declined. Thanks for your understanding regarding this matter.
I appreciate my loyal readers and I’ll continue to try to provide high quality, in-depth articles.
Below are the stocks I currently cover (as of May 2018):
Stocks Covered (21 mREITs; 14 BDCs; 8 Other Sectors): ACSF, AGNC, AINV, AI, ANH, ARCC, ARR, BMNM, BXMT (New), CHMI, CMO, CYS, DX, EFC, FSIC, GAIN (New), GBDC, GPMT (New), IVR, MAIN, MCC, MFA, MITT, MO, MTGE, NEWT, NLY, NRZ, NVS, NYMT, OCSI (formerly FSFR), OCSL (formerly FSC), ORC, PHM, PMT, PSEC, PM, SLRC, TCPC (New) TOL, TRP, TWO, and WMC.
Commonly Asked Questions:
Question 1): If you are only paid per article, why make your articles so long / detailed?
- I like to provide the “nuts and bolts” of a company. As such, I strive for my articles to have some sort of “hard to obtain” facts / figures. From this data, I like to fully discuss / analyze specific topics within a particular stock. This mainly consists of a quarterly projection article and a series of articles on a company’s dividend sustainability. In certain instances, I also write articles in regards to specific, material events that occur during a quarter.
- I believe a company’s quarterly results and upcoming dividend declarations are two of the most important topics readers are requesting information on. My analysis takes the “average” article several steps further to allow readers to have access to information that is rare to public viewership.
Question 2): How come you only write 1-2 articles a week (would like to see more)?
- As stated in my profile above, I have a full-time professional career. I write / analyze stocks in my free time. To provide these types of high quality / in-depth articles, I can’t see writing more than 2 articles a week. I believe “quality” should always be a higher priority versus “quantity”.
- As many readers should know by now (if you’ve followed me for a while), I not here for the monetary rewards. If that was the case, I’d write 5+ weekly articles and provide little to no engagement in each article’s comment section. I believe the comments section is as important as the article themselves b/c readers have a wide range of questions in relation to each article or the sector in general.
Question 3): What do you personally gain from writing these articles?
- I am not here trying to promote a company, book, or website. There’s nothing wrong with that. That’s just not what I’m about. I’m here for the “average Joe”.
- When I decided to write these articles, I based it on the notion I am filling a “special niche” per se. Using skills that have been built up over my professional career, my articles usually provide unique information that most writers either a) don’t have the technical expertise to provide or b) don’t bother providing due to the time it takes to compile such data. As such, I believe the S.A. community benefits from my articles. I solely do this b/c it’s a passion of mine and I like helping readers have accurate, reliable data that is not readily available. Yes, I understand this may seem “hard to believe” in this day and age.
Question 4): How come you do not write about more stocks?
- To give readers the level of detail that I provide in my articles, I amass large amounts of data every quarter (or even weekly). As a direct result, a large amount of time is consumed by obtaining / analyzing this data.
- If I expanded the stocks I research, it would most likely take away the quality of other articles I currently am writing about. Again, this gets back to the “quality vs. quantity” metric.
- There is a fairly large range of stocks / investment vehicles I cannot write about / provide an opinion on due to various conflicts of interests (regarding my professional career). This is a topic I take VERY seriously.
Old crusty fart who has been trading stocks for over 40 years. Worked in the industry for Dick Mayo and Jeremy Grantham at GMO until Dick left to start his own hedge fund. I retired at that point. Since then I have managed my own and my family's portfolio on a pretty much full time basis. Areas of interest, deep value, distressed entities, etc. I only invest long. I do not do options. I do not short. I do not do margin. I do equities and bonds. Some interest in CEFs. Most analysis is bottom up and not top down. I post on various stock boards under this name and have done so for over 15 years. I eat what I kill. That is the my only source of income. No stock letters, no advisory services, no manglement (sic) of OPM, no compensation from any exterior source for anything I do or write. My trading assistant is a Blenheim King Charles Cavalier Spaniel similar to the picture I use. And no, the firm does not exist, but you would be amazed at the junk mail I get at times. Some people never get it.
I regard SA and the stock boards I frequent as something of a pot luck supper. If we all bring something, we all eat well. If we all show up and bring nothing, we all starve. The opinions and conclusions I post on these boards can be wrong, have been wrong at times, and will be wrong at times. The person who does me the greatest service is the person who shows me where they are wrong. If I say something that you disagree with please let me know and tell me why. Please also feel free to ask me questions. On the better boards, the questions are usually ones that should be answered. If I do not know the answer, having to find it does me a service.
I may put IMBMSSSA in my disclosures. That stands for I May Buy More, Sell Some, or Sell All. I got tired of typing the whole thing..
Institutional investment manager authoring on a variety of topics that pique my interest, and could further discourse in this online community. I hold an MBA from the University of Chicago, and have earned the CFA designation.
My articles may contain statements and projections that are forward-looking in nature, and therefore inherently subject to numerous risks, uncertainties and assumptions. While my articles focus on generating long-term risk-adjusted returns, investment decisions necessarily involve the risk of loss of principal. Individual investor circumstances vary significantly, and information gleaned from my articles should be applied to your own unique investment situation, objectives, risk tolerance, and investment horizon.
Mr. Roche is the founder of Orcam Financial Group, LLC, a low fee financial services firm based in San Diego, CA as well as the founder of the popular financial website Pragmatic Capitalism (some articles from Pragmatic Capitalism get syndicated on Seeking Alpha so please see the full site if you don't want to miss articles by Mr. Roche).
Orcam Financial Group, LLC (www.orcamgroup.com) is a low fee financial services firm offering asset management, personal advisory, consulting and educational services. Pragmatic Capitalism (http://pragcap.com) was founded by Cullen Roche in the midst of the financial crisis of 2008. Mr. Roche foresaw many of the events that led up to the crisis and felt that the government was slow to react and when it did finally react, responded with the wrong medicine.
Mr. Roche's primary areas of expertise include global macro portfolio construction, quantitative risk management, monetary economics financial accounting and behavioral finance. Prior to establishing his own business, Mr. Roche worked at Merrill Lynch Global Wealth Management where he worked on a team overseeing $500MM+ in assets under management. Upon leaving Merrill Lynch, Mr. Roche managed a private investment partnership which took advantage of accounting irregularities ahead of major corporate events. The strategy generated substantial positive alpha (high risk adjusted returns) without a single negative year of returns from 2005-2011. After running the fund Mr. Roche transitioned to institutional consulting where he worked with large institutions and traders to help analyze the macroeconomic impacts of Quantitative Easing and the way these new unusual policies would impact flow of funds, the banking sector and macroeconomic accounts. He has since transitioned back to retail asset management to better serve the much needed retail space with sophisticated but low fee asset management and financial planning services.
Mr. Roche is also a prolific writer. In addition to the daily musings on his website, he is the author of the popular book “Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance” as well as “Understanding the Modern Monetary System”, one of the top 10 all-time most downloaded research papers on the SSRN academic research network. He is also the author of the popular white paper "Understanding Modern Portfolio Construction". He was named one of the “Top Wall Street Economists, Experts and Opinion Leaders” of 2011 by Wall Street Economists and was named one of the “101 Best Finance People” by Business Insider where he was described as “one of the most influential economic thinkers today.” In 2015 Mr. Roche was named one of the “40 Under 40” most influential people in finance by InvestmentNews. He is regularly cited in the Wall Street Journal, on CNBC and in the Financial Times.
Mr. Roche is a Georgetown University alumnus, growing up in the DC area and now living in Southern California with his wife Erica, troublesome collie Cal and 4 irritable laying hens. In addition to being a financial dork Cullen is an avid outdoorsman, mediocre gardener, proficient complex carbohydrate consumer (i.e., loves brownies and cake) and finisher of one of the most difficult IRONMAN races at Cabo in 2015.
Perhaps more than any other time in the last six decades, the fate of markets is inextricably intertwined with the ebb and flow of geopolitics. From the ECB's attempts to use the central bank's balance sheet to influence political outcomes across the eurozone to Saudi Arabia's efforts to transform the kingdom's influence over crude prices into an instrument of foreign policy, it's become increasingly clear that one simply cannot fully comprehend market movements without a thorough understanding of concurrent political outcomes. Drawing on extensive experience in both politics and finance, Heisenberg will help demystify a world in which investors can no longer hope to conceptualize markets as existing in anything that even approximates a vacuum. "I am the one who knocks."
I am a private investor, focused on value investing through balance sheet analysis.
I am not a financial professional nor do I work predominantly in finance.
I am a Business Development professional, working to develop new offerings into strong businesses.
Four private female investors and one Dachshund.
We've consigned our careers as fund managers to the shredder, as we no longer have any confidence that we can grow our clients' money anywhere near approaching the sparkling results that we achieved for them in the past.
Now Heidi and Desiree's investing interests involve global water distribution, agriculture, and timberland, while Clarissa and Helga manage strategies of certain commodities and hard assets.
We're also self-styled asset-manager vigilantes, who will bitch-slap those who take advantage of innocent retirees and other retail investors who have been ground into muesli by the Wall Street machine.
Sleazy RIA's, CFA's and 99% of the rest of financial "helpers" service their clients like Bonnie and Clyde serviced banks.
We'll answer any questions in the mail thread, even personal ones (but keep it clean or you'll grow old waiting for a reply), and we will sincerely try to help those in need of financial advice. And check out our blogs--some say they are light-hearted and way cool. Huh! They're better than that!
Oh, we almost forgot... While our names (Heidi, Helga, Clarissa and Desiree) may or may not be our real names, Schnitzel the Dachshund's name really is "Schnitzel the Dachshund."
I am the Contributor Success Strategist for Seeking Alpha Marketplace, helping authors to succeed in growing their services through a focus on marketing and content strategy. I originally joined Seeking Alpha as a Senior Editor in June 2012, and left to pursue other opportunities in late 2016. During my initial tenure at SA, I managed the Dividends, Income & Retirement and Expert Insight platforms. D&I focuses on income investment strategies and dividend investment-focused content for investors from the accumulation stage to retirement. The purpose of Expert Insight is to expand and elevate the quality of Seeking Alpha's content by including articles from an industry insider's point of view, designed to help investors make more informed decisions as they consider specific sectors and trends within those sectors for their investing strategies, e.g., utilities or technology. Expert Insight articles offer more of a macro, 30,000-foot-view that goes beyond investment analysis or stock recommendations. I also curated the Dividends & Income Digest, a bi-weekly publication that takes a look at a question that is compelling and relevant to the community, showcases the responses of DI thought leaders, and serves as a round-up of top DI articles. I have a particular interest in retirement-related content, particularly with regard to using a dividend strategy to create a steady income stream for those golden years.
I am a retired airline executive with legal and financial experience. I have a background in economics and finance with a focus on securities and securities analysis. I was in private practice for 10 years doing trial and appellate work prior to joining United Airlines where I did both transactions and litigation. I was with United for over 29 years, the last 17 as Assistant General Counsel. I now am a self directed investor, seeking to create cash flow to supplement our pensions and social security. I take a long term view focusing on securities that create a steady cash flow.
During my career I have had different roles within various banks, covering various products, from FX to High Grade Bonds. I have always been passionate about markets and particularly on Macro trends. I am currently working in different role in another company and still in contact with the credit market business.
I invest with passion and conviction, and I have the strength to stick with an investment until my thesis plays out, hence "Courage & Conviction Investing." My greatest gift is a rare ability to synthesize public information on a stock to formulate conclusions the market hasn't even considered. I share this unique skill with subscribers to my Marketplace service, Market Adventures. High-conviction investing isn't for everyone, but if you're in the market to make serious money and you have an insatiable appetite for risk, and you're willing to wait patiently for potentially big gains, then Market Adventures might be the right fit for you.
“When you are inspired by some great purpose, some extraordinary project, all your thoughts break their bonds: Your mind transcends limitations, your consciousness expands in every direction, and you find yourself in a new, great and wonderful world. Dormant forces, faculties and talents become alive, and you discover yourself to be a greater person by far than you ever dreamed yourself to be.” (Author - Patanjali)
“Tentative efforts lead to tentative outcomes. Therefore, give yourself fully to your endeavors. Decide to construct your character through excellent actions and determine to pay the price of a worthy goal. The trials you encounter will introduce you to your strengths. Remain steadfast...and one day you will build something that endures: something worthy of your potential.” (Author - Epictetus)
"Hope sees the invisible, feels the intangible, and achieves the impossible." (Author - Unknown)
"When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left, and could say, 'I used everything you gave me." (Author - Erma Bombeck)
Hi, I am new to investing and I have just learned the basics of financing. I am a follower of Warren buffet who is one of the best in the financial world(in my Opinion). I am 26 years old and I started my journey after reading articles on Warren buffet. I am here to help you find value and improved investments from all around the world. Hope you guys will enjoy reading my blog.
Wall Street Breakfast, Seeking Alpha's flagship daily business news summary, is a one-page summary that gives you a rapid overview of the day's key financial news. It's designed for easy readability on the site or by email (including on mobile devices), and is published before 7:00 AM ET every market day.
Wall Street Breakfast readership of over 900,000 includes many from the investment-banking and fund-management industries.
Sign up here to receive the Wall Street Breakfast in your inbox every business day: http://seekingalpha.com/account/email_preferences
Contributors: Scott Tzu, Parke Shall, Thom Lachenmann
(contributors write under pen names for anonymity purposes)
Please read Seeking Alpha's Policy on Anonymous Contributors to familiarize yourself with the site's terms and conditions relating to anonymous authors.
Shreya has experience with and exposure to the financial industry through her previous roles and internships at various firms.
She has passed Level II of the CFA exam.
Her writings focus on long value investments, portfolio strategy, and small-cap investments. She is also interested in options strategies.
Note: Shreya Mathur is NOT a registered investment advisor and investors should perform their own research and due diligence before investing.
CYNICONOMICS is run by F.F. Wiley and Ginger Snap – professional names for two veterans of the asset management industry. Our blog is based on our portfolio management experience and F.F.'s ongoing research, and motivated by our respective, midlife crises. Most people drive around in convertibles and reinterpret their wedding vows. We made up new names and started the blog. And F.F. has drafted a book, which one day he’ll finish up and publish.
27+ years investing (stocks, options, metals, & mutual funds,)
I've held roles in the technology and defense sector. I stick what I know. Thus you will see a lot of articles on technology, some on defense, and maybe the rare article on mining. I do not dive thick into numbers since I've seen too many companies cook the books (thinking of you OCZ) but I do have a focus on identifying things that trigger hype and thus we can trade on that.
Feel free to msg me.
2nd Market Capital Advisory specializes in the analysis and trading of real estate securities. Through a selective process and consideration of market dynamics, we aim to construct portfolios for rising streams of dividend income and capital appreciation.I am an investment adviser representative of 2nd Market Capital Advisory Corporation.
The Investment Strategist was initially started to guide DIY investors on Seeking Alpha to take a more strategic approach to investing than purely individual stock selection. My philosophy is that portfolio management is similar to cooking a gourmet meal, where the combination of ingredients, in their respective proportions, is better than an abundance of any one ingredient (or stock).
After years of evaluating portfolios, it was evident that many investors put together a smorgasbord of ideas without regard to how they fit together or move together, creating very inefficient and risky portfolios. In addition, most US investors are guilty of familiarity bias, and their portfolios are primarily invested in well-known stocks of US companies, while international equities and more obscure asset classes, like emerging market debt, remain absent from portfolios. T
While the Investment Strategist does provide individual stock ideas to cater to the Seeking Alpha reader, I try to put the ideas into context so that readers can invest using a broader perspective on how an individual stock fits into their portfolio.
My RIA offers wealth advisory services to UHNW investors, Aspiring HNW investors, Small Business Owners, and PreRetirees. We also provide investment strategy and research services to small and mid-sized investment advisors, including portfolio advisory, equity and fund analysis, and due diligence on alternative assets such as hedge funds, private equity, and real estate.
Peter started TF Market Advisors in 2011 as a platform to trade and provide market information. The trading strategies are macro, but the direction and value decisions are based on insights into the credit markets. The firm’s commentary has been gaining respect and Peter has become a recognized source of information on the developments in Europe in particular, but has also been very involved in recommendations on the banking industry and high yield bonds. He has appeared numerous times on Bloomberg TV and radio, and has been quoted in articles in the Wall Street Journal, the Associated Press, and Fox Business News. Many top hedge funds, money managers, and asset allocators have asked to be included on the distribution list.
Peter was a Portfolio Manager at KLS in the fall of 2008 and spring of 2009. He achieved positive performance for the period using a combination of single credit positions, well timed macro trading, and an active trading strategy that developed additional trading revenue around the core credit decisions and enhanced relationships to ensure allocations on investment grade new issues that could perform well. The returns were aided by product choice as much as specific credit decisions because the understanding of bonds, loans, and CDS, and investment grade and high yield, and single name and index, helped maximize returns or minimize downside for any level of risk.
Peter has been involved in all aspects of credit trading. He started his career with Bankers Trust in 1994 in the newly formed Credit Derivatives group. While at Bankers Trust and then Deutsche Bank, Peter ran High Yield Credit Derivatives which included cash, CDS, synthetic CDO’s, total return swaps on leveraged loans, and hybrid CLO’s. During this time he was very involved in the industry groups that developed the CDS product and that deep familiarity with the product helps when trading as the in depth knowledge can spot trading opportunities when markets are volatile or headline driven. He was hired by UBS to build out those businesses there, but over time became involved in the Credit Index Trading. He was a board member of CDS Indexco, which created the CDX suite of indices. He went on to start a successful index trading business at RBS in North America, where during 2007 and early 2008, the business went from nowhere to being profitable and a top 5 liquidity provider.
Peter received his Bachelors of Mathematics degree, Joint Honors Computer Science and Combinatorics and Optimization from the University of Waterloo, where he was a Descartes Fellow and graduated as the all-time leading scorer on the football team. He completed his MBA in Finance and Marketing at Vanderbilt University and was awarded the Matt Wiggington Leadership award for outstanding performance in finance.