Bonds Lead Stocks Out of Distress
In this issue, Marty Fridson details an opportunity to buy the common stock of a company whose bonds he previously recommended.
Porter & Co.
Why, and How, You Should Be Raising Cash…
When markets are hitting new highs, and inflation is rising, raising cash can feel like the last thing you’d want to do. But it should be the first thing to do. Here are few lessons on how to raise cash and where to put it once you do.
Ridicule. Violent Opposition. Acceptance.
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“Zeroes”, Tight Spreads, and Why the CEO Rushed Back From Singapore
In this special edition of the Daily Journal, Martin Fridson, Wall Street’s Dean of High Yield, shows how companies looking to raise capital tend to issue new bonds into an environment that benefits them, and not investors. Marty uses his decades in the sector to provide insights into how you can get in on the right side of the bond market.
Sell Alert: Half position of Peloton Interactive (PTON)
With shares trading up more than 100% from our entry price, we are recommending selling a half position in Peloton Interactive (Nasdaq: PTON). In our initial report on Peloton, “A Change of Gears,” dated October 11, 2023, we recommended purchasing Peloton’s 0% coupon bonds coming due February 15, 2026. At the time these bonds were
Surviving Financial Repression
Today, Porter explains how many Americans have only seen their wealth increase slightly in nominal amounts over the past decades… while there’s been a 10x increase in the money supply propelling the wealth of the top 0.1%. In real terms, the bottom half has gotten wiped out by inflation.
What Wall Street Doesn’t Know About a Trump Presidency
Regardless of what changes an incoming Trump administration might implement, we believe it’s only a matter of time before greed shifts to fear, and prices fall by 50% or more. Those who raise cash now will be in a position to buy world-class businesses at bargain-basement prices.
A Medical Magic Bullet
It would take medicine almost 100 years to translate a Nobel Prize winner’s “magic bullet” to fight cancer into reality. Now, in the past few years, the fruits of his research have emerged as one of the hottest areas of cancer medicine… . . . and of biotech deal making.
The Best Real-World Measure of Wealth
In a followup to judging how to measure the success of a second Trump term, Porter says the very best real-world measure of wealth is production of this energy source. Tell me per-capita production of this energy source, and I’ll tell you how rich a country is and how well its economy functions.
You Can Believe the Math
You can believe the numbers. Or you can believe the liars on TV, Porter writes today. Either way, the math wins in the end, as the U.S. piles on the debt so high it will soon be unable even to pay the interest on it all.