Bruce uses Sharepad to analyse the performance of MANU shares, listed on the NYSE. The football team presents some interesting challenges for valuing debt-funded intangible assets. Plus SDI’s profit warning, and CGEO’s Q1 results. The Bank of England raised interest rates to 4.5% last week, as the FTSE 100 rose +0.7% to 7,754. Since last

Bruce looks at Prof Altman’s credit analysis, going back 4 decades, suggesting US corporate default rates might rise above average, so understanding Sharepad’s Altman Z score could prove valuable. Stocks covered HEIQ, SDRY, LLOY, HL. and KITW. The FTSE 100 fell -1.2% to 7,737 in the last 5 days. The S&P 500 and Nasdaq100 were

UK banks BARC and NWG reported Q1 results, with contrasting trends in customer deposits. Also covered: bid approaches for MGP, NUM and SMV, plus a look at AOM. Last week the FTSE 100 was down -1.3% to 7,812. The Nasdaq100 was up +1.3% while the S&P 500 was broadly flat in the last 5 days.

Bruce looks at the influence double-digit inflation is having on bank deposits. Companies covered MONY, KMK and THRU. The FTSE 100 was up +0.4% to 7,907 over the last 5 days, while the Nasdaq 100 fell -0.6% and the S&P500 was flat. The Natural Gas contract (NG-MT) was up +31% in the last 5 days

Bruce shares some thoughts on averaging down when a share price falls versus supporting a company that needs to raise capital. Companies covered AGFX, JTC, SIS, and SDRY. The FTSE 100 was up +2.0% in the last five days to 7,902. The Nasdaq100 was up +0.1% and S&P500 +0.8% over the same time period. The

We have seen a disconnect between the performance of Nasdaq 100 (+19% YTD) versus US regional banks (-28% YTD). Companies covered: two large acquisitions by RAT, FRAN plus G4M’s profit warning. The FTSE 100 was up +2% over the last 5 trading days to 7,788. The S&P500 was flat, while the Nasdaq100 was down -1%

Platforms have made it easier for retail shareholders to vote at company AGMs, remuneration committees should take note. Plus a look at the computer games sector: TM17, TBLD, KWS and a couple of financials AQX and BUR. The FTSE 100 rose to 7,685 last week, an increase of +2.9%. The Nasdaq100 and the S&P500 were

The Swiss Central Bank’s balance sheet in 2022 shows signs that Credit Suisse’s problems were well understood, but harder for the authorities to resolve. Companies covered KAPE, SDRY, ALPH and EQLS.  The FTSE rose +1% to 7476 in the last five days, most of which was on Monday morning. The Nasdaq100 was up +2% and

With the ‘rescue’ of Credit Suisse over the weekend, Bruce ponders what might happen next and which indicators to focus on. Companies covered BUR and TCAP. The FTSE 100 fell -2.5% to 7,358 over the last 5 days. The Nasdaq100 and S&P500 were up +1.4% and 5.8% respectively, indicating that the sell-off in markets has

Following the rescue of Silicon Valley Bank, Bruce looks at possible read across to recent IPOs and IP Group. Companies covered IPO, FRAN and Georgian Banks BGEO / TBCG. I suggested last week that the rally was running out of steam. I was not expecting a bank run in Silicon Valley though (SIVB total assets

With the rally running out of steam, Bruce looks at long-run equity returns. The two banks which compete to publish this data have performed much worse than the average equity. Companies covered SHC, RMV and RCDO. The rally seems to be running out of steam. The FTSE 100 was down -0.2% to 7,917. The Nasdaq

Bruce looks at the Berkshire Hathaway 2022 shareholder letter, which Buffett published over the weekend.  Stocks covered AVAP, SLP and GBG. The FTSE 100 remained just below 8,000, and was down less than -1%, recovering from a sell-off early last week. The Nasdaq100 and S&P500 sold off more heavily, down -3.9% and -3.0% respectively. The