Adam Zingg, CFA offers both practical and theoretical perspectives that will benefit readers who wish to learn more about how to execute on views or strategies that interest them.
Whatever your overarching philosophy or expertise, I believe there is value in understanding how trading works. This is perhaps especially true for investors, who often take a more philosophical, less mechanical view when it comes to their processes.
It is not my goal to:
1) convince you which side of the market to be on
2) establish your trading time frames
3) have you directly follow any specific trade ideas
Instead, I aim to demonstrate how complicated sounding ideas can be simplified and accessible. My hope is to grow your tool kit of resources, and give you healthy confidence to execute your own personalized strategy.
Trading and investment are fascinating, applicable across a wide variety of fields and disciplines. Greater focus on targeting, execution, and exit strategies build transferable life skills.
In reading my work, it is my goal that you will consistently glean useful insights and build skills that enhance your ability to trade and make important decisions.
Charlie Bilello is the Director of Research at Pension Partners, LLC, an investment advisor that manages mutual funds and separate accounts. He is the co-author of four award-winning research papers on market anomalies and investing. Mr. Bilello is responsible for strategy development, investment research and communicating the firm’s investment themes and portfolio positioning to clients. Prior to joining Pension Partners, he was the Managing Member of Momentum Global Advisors and previously held positions as a Credit, Equity and Hedge Fund Analyst at billion dollar alternative investment firms.
Mr. Bilello holds a J.D. and M.B.A. in Finance and Accounting from Fordham University and a B.A. in Economics from Binghamton University. He is a Chartered Market Technician (CMT) and also holds the Certified Public Accountant (CPA) certificate.
In 2017, Charlie was named the StockTwits Person of the Year. He is a frequent contributor to Yahoo Finance and has been interviewed on CNBC, Bloomberg, and Fox Business.
Have managed money for clients as an independent advisor since 1991. Published a newsletter ECONOMIC LEADS from 1988 to 1993. Have an economics degree from Vanderbilt University. Focus on the macro picture forecasting the US economy and broad stock market. Also have a model to estimate long term equity returns for several countries.
Joseph has been an analyst, investor, and student of economic theory; money and banking; and statistical methods for evaluating and implementing risk/reward trading algorithms since 1972. Joseph is also an occasional contributor to financial publications and his essays are frequently cited by other financial websites and publications.
Since the end of the Great Recession, Joseph came to recognize that traditional methodologies for forecasting economic growth and investment asset pricing are no longer of value, and a broader understanding of the post Glass Steagall, financially engineered world that has driven markets and economies since the turn of the century is required today.
He has a good grasp of Shadow Banking, High Frequency Trading, and Dark Pools, and their impact on today’s markets. He has also spent considerable time understanding the new global paradigm of central bank involvement in experimental policy designed to better control economies.
Joseph doesn’t subscribe to a specific school of theory on economics. Rather, his thinking is based on a combination of the Classical School, the Austrian School, and the Keynesian School. He even sees the writings of Karl Marx as particularly instructive.
Joseph is particularly fond of the following quote from Albert Einstein and sees his own work as driven by that same passionate curiosity that Einstein refers to:
“I have no special talents. I am only passionately curious.”
Coming in a close second in terms of favorite quotes that express his views, Joseph embraces Lord Acton’s views expressed here:
“The danger is not that a particular class is unfit to govern.
Every class is unfit to govern."
e21: Economic Policies for the 21st Century is a Washington-based center of the nonprofit, nonpartisan Manhattan Institute dedicated to economic research and innovative public policies for the 21st century. Drawing on the expertise of practitioners, policymakers, and academics, we aim to advance free enterprise, fiscal discipline, economic growth, and the rule of law.
Lawrence is the Managing Director of Fuller Asset Management. He has 20+ years of experience managing investment portfolios and serving the needs of individual clients. He began his career as a Financial Consultant in 1993 with Merrill Lynch. He worked for First Union Brokerage, Morgan Stanley and ING in the same capacity before realizing his long-term goal of complete independence. He graduated from the University of North Carolina at Chapel Hill with a B.A. in Political Science in 1992.
Class President of the National University of Singapore MBA Program and former FX trader at CIBC (NYSE: CM). Sean holds a Bachelor of Commerce Degree with a Major in Finance and Minor in Economics from the Sauder School of Business at the University of British Columbia.
Erik is the senior market technician for Prometheus Market Insight and has been performing chart analysis since 1995. The software program that he developed to monitor long-term stock market trends has correctly identified 92% of the cyclical turning points in the S&P 500 index since 1940. His Gold Currency Index has predicted every major trend change in the US gold market since its creation in 2005.
I am a Doctor of Physics and Mathematics, Lead Researcher at the Institute for the Geospheres' Dynamics, Russian Academy of Sciences. Founding member of the Society for the Study of Economic Inequality
Published three monographs in economics and finances:
Deterministic mechanics of pricing
Mechanics of personal income distribution
mechanomics. Economics as Classical Mechanics
All available on amazon.com
The author of 50+ articles and working papers on macroeconomics and finances, all available via RePEc (http://ideas.repec.org/e/pki113.html)
Co-editor of the journal "Theoretical and Practical Research in Economic Fields"
Founded in 1990, TrimTabs Investment Research is the leading independent institutional research firm focused on the supply and demand of shares of stock and the money available for investment. Our key premise – which we term Liquidity Theory – is that stock prices are a function of liquidity rather than value. Like the prices of any tradable good, the prices of stocks are driven primarily by supply and demand.
Unlike most quantitative stock-evaluation models, which focus on easily available price, volume, and earnings data, Liquidity Theory insights depend on detailed data on asset flows and how they shift over time. Since data on the supply and demand for stocks is scattered across so many sources, most strategies ignore stock market liquidity altogether.
By maintaining detailed quantitative models that track key areas of market liquidity and changes in the supply and demand for equities and equity-like vehicles, TrimTabs provides our clients with comprehensive real-time analysis of all aspects of equity-market liquidity.
On the supply side, we measure changes in the float of shares by aggregating corporate actions. On the demand side, we track the money moving into and out of the stock market by measuring the flows into and out of mutual funds, exchange-traded funds, and hedge funds. To obtain an early edge on future liquidity trends, our Real Time Macro research focuses on real-time measures of consumer income and employment. Follow TrimTabs and Charles Biderman on Twitter, @CharlesBiderman
Michael Ashton has been a recognized leader in developing the U.S. inflation derivatives market. He traded the first interbank U.S. CPI swaps in 2003 and, as a dealer, was a primary liquidity-provider in that market for two large banks. He represented about one-third of interbank swaps volume during his tenures at those firms. He invented and was the sole market-maker for the CME CPI Futures contract. He has written and spoken extensively about the use of inflation-indexed products for hedging real exposures, and has written more broadly in a commentary format about the rates markets and macroeconomy. Mr. Ashton is currently the managing principal at Enduring Investments LLC. His comments on this site and others are not posted in that role, and no opinions of his should be construed to be recommendations of or to reflect the views of his employer. He recently published "What's Wrong With Money? The Biggest Bubble of All."
Roger Nusbaum is the ETF Strategist for AdvisorShares. This Arizona-based professional has over 25 years of industry experience. He is also a well-known financial commentator covering ETFs, retirement planning and portfolio management for AlphaBaskets.com and at TheStreet.com. We think Roger is particularly insightful on exchange-traded funds, risk management and investing in international markets. Visit Roger's work at TheMaven (https://www.themaven.net/etf/) and AlphaBaskets (http://alphabaskets.com)
Economics PhD, Business School Dean, University Chancellor, Books and articles on macroeconomics, economic development, unemployment, and taxation. Legislator on ways and means committee, Regulatory commissioner, CEO Newspaper and radio station chain, CEO of Internet company. Investor,
Operates a forecasting consultancy and manages individual investment accounts oriented towards long-term appreciation. Presently he is funding high risk/high return micro-equity investments overseas.
Michael's history with financial markets dates back to 1979 on the Pacific Stock Exchange Options trading floor. Michael has traded in the US, UK (London Traded Options Market), Netherlands (Amsterdam's European Options Exchange), and Germany (DTB). He is also an internationally published analyst of technical analysis covering the major indices, bonds, currencies, and commodities of Europe and the U.S. Currently based in San Francisco Michael continues to trade and write analysis.
Friedrich is the name given to our algorithm for analyzing companies that trade on the global stock markets. In creating Friedrich we concentrated on analyzing each company’s Main Street operations through various established ratios, along with our own unique ratios that we developed over the last 30 years. What we came up with is a final "Main Street" price per share based on Generally Accepted Accounting Principles (GAAP), which is a framework of accounting standards, rules and procedures defined by the professional accounting industry, which has been adopted by nearly all publicly traded U.S. companies. We feel that our Main Street price result is what each company would need to trade at in order to be attractive to a businessperson on Main Street looking to buy at a bargain.
Since the only constant in the universe is change, the results for each company fluctuate by varying degrees. No company is an island unto itself, but each operates in a world of constant change and at times in areas where Chaos is the norm. By analyzing a company’s Main Street operations over time, Friedrich is able to give the potential investor a decade long analysis (opinion) as well as offering a Trailing Twelve Month (TTM) analysis (opinion), as well. Thus our readers will not only get as close to a real time view of operations on Main Street as is possible, but then can measure the consistency of the company’s operations over time to determine if s/he should invest or not.
Through our Friedrich algorithm we can analyze ten years of Balance Sheet, Income Statement and Cash Flow Statement data for each company all at once and generate one final result in seconds. Friedrich was designed to be ultra-conservative and thus will cut zero slack to any company under analysis and will do so with zero emotion. Companies must be exceptional in order to get an attractive Main Street valuation and the ideal investments according to our backtesting are the ones that have been consistent over time.
By being so ultra conservative Friedrich is designed to identify bargains that Wall Street investors may have overlooked. Companies shares may trade on the stock market but the companies themselves operate on Main Street, so Friedrich is designed to generate a Main Street price per share first and only then does he go to Wall Street and see the price for which Benjamin Graham’s “Mr. Market” is offering the shares.
Geoff Gannon is the co-founder of Focused Compounding. Focused Compounding is an exclusive members only site for buy and hold investors. Geoff regularly writes about specific stocks with long-term compounding potential at that site. Please visit: https://focusedcompounding.com/
Diane Mermigas is an award-winning business writer and analyst, consultant, speaker and adjunct professor specializing in digital media content, advertising, marketing, commerce and consumer behavior-related issues and trends. She excels in developing digital strategies for media content and marketing companies seeking new business models, revenue streams and consumer connections.
Her distinctive thought leadership and actionable business intelligence uniquely span traditional and interactive media, Hollywood and Silicon Valley, Madison Avenue and Wall Street. Ms. Mermigas leverages her extensive knowledge, skills and high-level industry contacts to provide clients and readers with a better command of interactive transformation, especially as it applies to social mobile platforms.
Ms. Mermigas has served as an advisor on digital convergence, interactive business plans and thought leadership to companies such as PricewaterhouseCoopers, Fuse Capital, Public Broadcasting, GE Capital and Akoo International. She has been a moderator and presenter at industry conferences, universities and think tanks such as World Economic Forum and the Monaco Media Forum, American University's Center for Social Media and Harvard Law School's Berkman Center for Internet & Society.
She continues her ongoing rapport with leading industry executives such as long-time NBC Universal chairman and CEO Bob Wright, with whom she is co-authoring a book. While teaching New Media Studies and business model creation to graduate students at Chicago's DePaul University, Ms. Mermigas is constructing a detailed, long-term forecast for the dramatic transformation of media industry economics, company structures, consumer relations, and content creation and distribution.
Her trademark column, big picture analysis and executive interviews can be found at The Hollywood Reporter, Advertising Age and other Crain Communications publications, Seeking Alpha, Business Insider, BNET and Mediapost. She has been a contributor to CNBC, CNN and other television news.
Charles Hugh Smith writes the Of Two Minds blog (www.oftwominds.com/blog.html) which covers an eclectic range of timely topics: finance, housing, Asia, energy, longterm trends, social issues, health/diet/fitness and sustainability. From its humble beginnings in May 2005, Of Two Minds now attracts some 200,000 visits a month.
Charles also contributes to AOL's Daily Finance site (www.dailyfinance.com) and has written eight books, most recently "Survival+: Structuring Prosperity for Yourself and the Nation" (2009) which is available in a free version on his blog.
Elliott Gue knows energy. Since earning his bachelor’s and master’s degrees from the University of London, Elliott has dedicated himself to learning the ins and outs of this dynamic sector, scouring trade magazines, attending industry conferences, touring facilities and meeting with management teams. For seven years, Elliott Gue shared his expertise and stock-picking abilities with individual investors through a highly regarded, energy-focused research publication. Elliott Gue’s knowledge of the sector and prescient investment calls prompted the official program of the 2008 G-8 Summit in Tokyo to call him “the world’s leading energy strategist.” He has also appeared on CNBC and Bloomberg TV and has been quoted in a number of major publications, including Barron’s, Forbes and the Washington Post. In October 2012, Elliott Gue launched the Energy & Income Advisor (www.EnergyandIncomeAdvisor.com), a semimonthly online newsletter that’s dedicated to uncovering the most profitable opportunities in the energy sector, from growth stocks to high-yielding utilities, royalty trusts and master limited partnerships. Roger Conrad also contributes analysis of master limited partnerships and Canadian energy stocks to the publication. The masthead may have changed, but subscribers can expect the same in-depth analysis and rational assessments of investment opportunities in the energy sector.
Doug Short is first-wave boomer with a lifelong interest in markets and the economy. His professional career had been a satisfying split between academia (English Professor at North Carolina State University) and Information technology (IBM and GSK).
Doug retired in 2006 to devote himself full-time to his dshort.com financial website. The domain has now been acquired by Advisor Perspectives, and Doug has been appointed the Vice President of Research.
Doug is especially interested in the economy, long-term market trends and behavioral finance.
Daryl Montgomery is the organizer of the New York Investing meetup, a 8,000 member educational group that provides the public with unbiased stock, bond, currency and commodity market information. For details, see: http://ow.ly/Y6CNhT (it's free to join). The group is the largest investing meetup in the world. It holds monthly general meetings, offers small classes on investing topics, has webinars and provides individual tutoring.
Montgomery, a former professor and expert witness in court cases on data reliability (up to the Supreme Court), has written a number of books on investing and 800+ articles on financial topics. He was formerly the chief blogger for the "Helicopter Economics Investing Guide". He has done extensive research on optimal use of technical indicators. Montgomery has never worked for, nor has any association with any Wall Street company and this allows him to bring an independent perspective to market analysis.
The New York Investing meetup's strength is in calling market turns. It called the top in gold and silver in March 2008 and the exact day of the oil bottom in February 2009 and almost the exact peak price in Silver in 2011. The New York Investing meetup now has a monthly market newsletter that provides a global analysis of stocks, bonds, currencies, and commodities. It can be purchased on a monthly basis.
Kendall J. Anderson, CFA is the founder and President of Anderson Griggs Investments. Anderson Griggs manages equity only and balanced separate accounts from Rock Hill, South Carolina. Kendall was recognized by Money Manager Review as the number 1 large cap growth manager for 2004. His management of the firm’s large quality separate account has earned a Morningstar 4-Star rating for the 10 year period ending 12-31-09. Advisor Perspectives, a leading publisher serving financial advisors, awarded Kendall with the inaugural Venerated Voices Award as the most-widely read commentary by professional financial advisors in 2010, for his commentary titled “Good Enough” with Ken Fisher, Marty Whitman and Warren Buffett, published on November 30th, 2010. He is a regular contributor to Morningstar.com and Seeking Alpha, the most recognized names in the financial community for timely and actionable opinion and analysis. Kendall's company website may be found at www.andersongriggs.com. On a personal note, Kendall is one of just 400 individuals who have successfully finished the “Iron Butt Rally,” the “World’s Toughest Motorcycle Competition.” The Rally lasts for 11 days and covers more than 11,000 miles.
Tim Price is Director of Investment at PFP Wealth Management in the UK, an independent asset management and financial planning practice. He was formerly Chief Investment Officer – Global Strategies at Union Bancaire Privée in London, and previously Chief Investment Officer at private bank Ansbacher & Co.
Tim has 18 years’ experience of both institutional and private client wealth management. A graduate of Oxford University, his focus is absolute return investing using multiple asset classes, including so-called alternative investments. Working with his prior employers he has been shortlisted for five successive years in the Private Asset Managers Awards programme and is a previous winner in the category of Defensive Investment Performance. He was also shortlisted in the inaugural Spear’s Wealth Management Awards 2007 in the category of Asset Manager of the Year.
An outspoken and sometimes irreverent commentator on financial markets and the asset management industry, Tim is also a regular columnist for Money Week magazine and maintains a weblog, The Price of Everything (http://thepriceofeverything.typepad.com/).
I am a financial writer, publisher, and New York Times bestselling-author. Each week, nearly a million readers around the world receive my Thoughts From the Frontline free investment newsletter. My most recent book is Code Red: How to Protect Your Savings from the Coming Crisis. I appear regularly on CNBC and Bloomberg TV. I’m also Chairman of Mauldin Economics, a research group that provides monthly analysis and recommendations to thousands of readers around the world. I was previously CEO of the American Bureau of Economic Research. Today I am President of the investment advisory firm Millennium Wave Advisors, LLC. I am also president and registered principal of Millennium Wave Securities, LLC a FINRA and SIPC registered broker dealer. When I’m not traveling to speak at conferences and events, I live in Dallas, TX. I’m also the proud father of seven children.
Reggie Middleton is the personification of the freethinking maverick — the ultimate nonconformist as it applies to macro strategies, investment, and analysis. He uses his background and knowledge in new media, distributed computing, risk management, insurance, financial engineering, real estate, corporate valuation, and financial analysis to pursue, analyze, and capitalize on global macroeconomic opportunities.
Finding most available research lacking, both in quality and quantity, Mr. Middleton assembled his own talented research staff. As forensic research is a lynchpin for his own investing, "to actually put food on the table," he stands behind it as doing what it is supposed to do - illustrate, elucidate and educate. He does not sell advice or research. He is an entrepreneur who exists outside of mainstream corporate America and Wall Street. This allows him the freedom to do things that many cannot—perform without conflicts of interest and corporate politics.
Mr. Middleton prides himself on developing some of the highest quality, actionable research available - regardless of price. He welcomes any and all to peruse his blog of freely available analysis, opinion and participatory social media; use his custom tools, download files, interact with the community and make critical comparisons from a results orientated perspective.
Reggie believes ideas and implementations are improved and fine-tuned when bounced off of the collective intellect of the many, in lieu of that of the few - in essence, a form of collaborative open source financial analysis.
Visit his blog Boom Bust Blog. (http://boombustblog.com/)
Michelle Galanter Applebaum is a long-time independent steel industry analyst with nearly 30 years of experience following the sector as well as an adjunct professor at Lake Forest College in Chicago. Ms. Applebaum spent over 20 years at Salomon Brothers in New York and Chicago. During her years on Wall Street, Ms. Applebaum was the #1-rated steel industry analyst according to Institutional Investor magazine from 1988 through 2003 and was a managing director with the firm and helped co-manage the firm's leading investment bank serving domestic and international steel companies. After leaving the Street in 2003, Ms. Applebaum formed Steel Market Intelligence, a 5-man boutique based in Chicago focusing on steel equities and commodity steel markets providing advisory services focused primarily on institutional investors. Ms. Applebaum is regularly quoted in publications such as The Wall Street Journal, Bloomberg News, and The New York Times. She makes frequent appearances on the business programs of CNBC and FOX, and was a featured guest on Wall Street Week with Louis Rukeyser.
Graham Summers is Chief Market Strategist of Phoenix Capital Research, a global investment strategy firm located in Washington, DC. He is a Fuqua Business School MBA graduate, and has over a decade of experience in investment strategy, financial research, and private wealth management.
An acclaimed communicator and strategist, Graham’s cutting edge business and research insights have been featured in several media outlets around the world including: CNN Money, Fox Business, Rolling Stone Magazine, Crain’s New York Business, the New York Post, MoneyTalk Radio, and The Huffington Post among many others.
Maz Jadallah is the founder of AlphaClone, a technology-driven investment management firm where he serves as CEO and Portfolio Manager. Prior to founding AlphaClone, Maz spent 12 years in senior financial analyst, strategy and technology management roles. Most recently Maz was SVP of Corporate Development at Nasdaq-traded OpenTV. Prior to that, Maz worked at Time Warner Inc where amongst other roles he served as Senior Director reporting directly to Richard Parsons, the then co-COO. Maz is a life long investor, a registered investment advisor representative and has a Series 65 license. He holds an MBA with honors in Finance and Management from Rollins College and a BS in Industrial Engineering from Texas Tech University.
I'm a lawyer and accountant who's devoted over three decades to advising clients on complex corporate finance, disclosure and reporting, and corporate governance issues. I've held board seats and executive suite positions in the mining, oil and gas and battery industries, and served as issuer's counsel for several SEC registration statements. My decades of experience give me a unique insider's view of the public and private equity markets and an encyclopedic knowledge of the business and technical issues I write about.
Over the last decade, I've earned a global following for my articles on the energy storage and alternative energy sectors. I've contributed to Seeking Alpha, The Street, NASDAQ.com, AltEnergyStocks, InvestorIntel and Batteries International Magazine.
I'm a 1979 graduate of the Notre Dame Law School and a 1976 graduate of the W.P. Carey School of Business at Arizona State University. I was admitted to the State Bar of Texas in 1980 and licensed to practice as a CPA in 1981.
My diverse experience in corporate finance, natural resource development and energy storage give me a unique and sometimes unsettling perspective on the technical, economic and supply chain challenges facing the battery industry.