In August of 2020 Apple issued a 40 year, 2.55% bond, two years later that bond is down nearly 40%. Apple’s stock on the other hand is up over 50% in that same period. Why is that and what does it imply? 

Is a large daily drop in the market a buying opportunity? We used 60 years of daily data to see what happens after the market drops.

One of the most difficult problems for fundamental value investors is reconcliling value and momemtum. 

Download Memo as PDF Stock Market Review for the First Half Year The market performance in the first half of 2023 was a surprise, to say the least. Whereas the year began with concerns about an impending recession, the market shrugged off those fears and moved dramatically upward as shown in chart below. The first half

Download PDF Science advances one funeral at time – Max PlanckThe same can be said of the equity risk premium. Using fundamental valuation analysis to assess the level of the stock market, as measured for instance by the S&P 500 index, requires two inputs – forecasts of future cash flows and a discount rate. The

Download PDF In this article, we assume that AI, which we recognize has many different forms, will be a major economic success in that it will lead to greater productivity and rising GDP in the United States. The question for investors is how will it affect stock prices? That depends on whether you are talking

Presently just five US tech companies account for nearly 25% of the S&P 500 market cap. We discuss resurgence of big US tech and what it means for investors.

Prof. Bradford Cornell explains how fundamental valuation analysis can potentially uncover market inefficiencies. As an example, Prof. Cornell revisits our publication “Valuing the Automotive Business” from November 2021.  Hello, welcome back to reflections on investing with the Cornell Capital Group. Today we’re going to return to two themes that have resonated throughout our series of

Download Memo as PDF During the first quarter the story of both the fixed income and stock market revolved around the ongoing evolution of the yield curve. To review, the yield curve plots the yield on Treasury securities as a function of their maturity. The graph below plots the yield curves at the start of

When interest rates were near zero it was easy for companies to borrow and for investors to overlook debt. But as interest rates increase, the amount of debt held by a business can become a significant refinancing risk for the company and investment risk for investors. Hello and welcome back to Reflections on Investing with