Author Archives: Ron Heller

Digging In

Is this a surprise?  When you live deep in the sea of corporate financials, you have a good take on what is going on in the world.  Unlike many investment advisors across the U.S., Peritus actually builds financial spreadsheets and …

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The Impact of Fund Flows

There has been a lot of debate about Active Management versus Passive Management and how money flows into these funds affects performance.  I don’t know how many of you watched the CNBC interview today with PIMCO’s Bill Gross.  He was …

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Jobs, Growth, and Corporate Profits

Jobless claims were above all the expert expectations in the latest week.  There has to be demand for companies to hire workers.  The Kansas City Manufacturing Activity was well below expectations, which is further evidence that demand is not there.  …

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Investment Outlook

The CPI (Consumer Price Index) up 3.1% year over year and GDP growth estimates between 1% – 1.5%, depending on who you speak to, does not add up to a growth in consumer spending and equity markets as a whole. …

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Owning High Yield

So, do you want to own high yield bonds in your portfolio?  I have written and spoken many times about the dangers of investing in this asset class through either a passive/index-based manner or through a large mutual fund.  There …

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True Active Management

I have written over and over again about active management versus passive or “index-based” management and their differences in holdings and management styles.  I have discussed the types of securities that active managers put into their client portfolios versus what …

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A Look Around

Let me understand something, Americans have lost $16,000,000,000,000 in wealth since the financial crisis started and Bill Gross has previously said that the U.S. has ~$75,000,000,000,000 in debt when you add Social Security and Medicare liabilities,1 yet the government is …

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The Gaming Industry

Not to pile on the Gaming Industry, as we have written several times about Caesars/Harrahs, but yet another gaming company I was reading about today is a bloated pig too.  City Center Holdings is another name in the high yield …

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Congress and Insider Trading

Let me get this one straight, we have professional investors losing their jobs and going to jail and individual investors (i.e., Martha Stewart) going to jail because they make trades and profits on information they get from friends or colleagues …

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Q4 2011 Growth

We now have the fourth quarter U.S. growth numbers.  They came in at a 2.8% growth rate for Q4 2011, after a 1.8% rate of growth in the third quarter.  But don’t get too excited about this, as there is …

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