Financials

Why Ares Capital Is Likely To Underperform The BDC Sector (Archive)

Defensive positioning and floating-rate exposure make Ares Capital poorly placed for easing rates tailwinds.

Ares Capital: It's Tough To Justify A Buy (Archive)

Fading rate tailwinds, sector headwinds and limited valuation cushion make ARCC difficult to buy.

Charles Schwab: Get Ready For Multiple Quarters Of Margin Expansion (Archive)

Margin tailwinds and cost savings set Schwab up for sustained earnings and valuation upside.

Berkshire Hathaway: Look At Consumers And Cash Flows (Archive)

Berkshire’s consumers face tailwinds, but weakening cash flows keep me neutral.

Ares Capital: Rising Rates Make Up For Activity Slowdown (Archive)

Rising rates turbocharge ARCC’s floating-rate portfolio despite a sluggish deal pipeline.

Charles Schwab: Get Ready For Multiple Quarters Of Margin Expansion (Archive)

Multiple levers position Schwab for sustained net interest margin and earnings expansion.

The Market Is Too Optimistic On Charles Schwab (Archive)

Wall Street keeps overestimating Schwab’s earnings power despite clear fundamental headwinds.