Beese Fulmer Wealth Management Commentary
Welcome to the Beese Fulmer Wealth Management Commentary. Researched and written by Beese Fulmer experts, these articles unravel the mysteries and expertly guide investors with information and counsel honed over decades of experience. Visit often for more articles or subscribe to our RSS feed below.
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Nike stock doing well, but be aware of trends
Friday, June 7, 2019
Over the last few years, Nike has shifted its strategy from distributing products widely through wholesalers to selling its products through Nike-owned retails stores, the company website, and retail accounts. A great example of Nike’s strategy can be seen at Dick’s Sporting Goods in the dedicated Nike section called “Nike Fieldhouse”.
Ask the Rational Investor: "Are insurance companies good investments?"
Wednesday, May 8, 2019
At year-end 2018, Cincinnati Financial had 2,344 relationships in about 40 states. Once a new agency starts carrying Cincinnati Financials’ insurance, their market share of premiums written within the agency generally rises to an average of over 14% after ten years. As an investor, we appreciate the highly predictable revenue growth from expanding these relationships. With 58 consecutive years of shareholder dividend increases, and a 2.6% dividend yield (as of early March, 2019) investors have multiple ways to grow their investment over the long-run.
1Q19 Investment Outlook Value vs Growth
Tuesday, May 7, 2019
Many investment managers view themselves as either Growth Managers or Value Managers. Growth Managers invest in stocks which have a consistent record of growing earnings and revenues faster than the average company (or much, much faster than the average company). Value managers tend to invest in companies which have cheap valuations.
1Q19 Investment Outlook Tax Reform Worked
Tuesday, May 7, 2019
The results are in and the dramatic reduction in the corporate income tax has increased investment as expected, at least as expected by its supporters.
1Q19 Investment Outlook Tech IPO
Monday, May 6, 2019
The first quarter of 2019 ended with the highly anticipated initial public offering (IPO) of Lyft. Lyft is a ride sharing company that is smaller but similar to Uber. Lyft is also the first of a number of technology IPO’s that will take place in 2019.
1Q19 Investment Outlook Recap
Monday, May 6, 2019
Is good news good news, or is bad news good news? What may seem like a straightforward question can be anything but, when it comes to the stock market.
Ask the Rational Investor: “Should investors worry about Boeing’s 737 MAX issue?”
Monday, April 8, 2019
Boeing’s 737 MAX is one of the most anticipated updates to the 737, which currently has an order backlog of over 4,600 aircraft, representing 78% of Boeing’s overall commercial aircraft backlog. Over the next 5 years, it is estimated that the MAX will represent approximately 33% of Boeing’s sales and almost half of Boeing earnings before interest and taxes (EBIT).
Considering the significance of the MAX upgrade, it’s no surprise that stock prices have dropped from a recent high of $440 on March 1st, to $370 (3/27/19) after the Ethiopian Airlines crash and the eerily similar Lion Air crash. The two incidents in conjunction caused the worldwide grounding of the airliner.
Ask the Rational Investor: "Is Wells Fargo & Company a long-term buy?"
Monday, March 4, 2019
In 2016, Wells Fargo was fined $185 million for the creation of over 3.5 million fake accounts. The scandal was far reaching and resulted in the termination of 5,300 employees. John Stumpf, CEO, forfeited his 2016 salary, bonus, and stock awards which totaled over $40 million.
Today, the scandal is gradually fading in consumer and investor minds and significant changes within the board and leadership team have hopefully remedied the underlying causes.
Ask the Rational Investor: "What happened to Diebold Nixdorf's stock price?"
Thursday, February 7, 2019
Some investors might argue that Diebold Nixdorf’s management has been asleep at the wheel ever since rejecting United Technologies’ acquisition offer at $40 per share (or an enterprise value of $3 billion) in March 2008.
It gets worse. Over the last two years, Diebold Nixdorf’s (DBD) stock price has declined about 84%, around just $4 per share, compared to the S&P 500’s almost 15% rise. A dramatic return difference.
4Q18 Investment Outlook - Greenspan II
Wednesday, February 6, 2019
It has long seemed that there are a lot of interesting books on history and a lot of interesting books on economics, but few on economic history. I strongly recommend “Capitalism in America”, a new book published this fall by Alan Greenspan and Adrian Wooldridge.
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