A number of years ago, I brought up a stock idea to our investment team because it looked undervalued to me at around $20. It had tumbled from the mid-50s a year or so earlier and was selling at a low price-to-earnings ratio. Due to the fact the S&P 500 had been rising for years, even back then, it was increasingly hard to find undervalued securities, but this company superficially appeared to qualify. The rest of my investment team was unimpressed, however. Read More
Below are Evergreen Gavekal's Likes/Dislikes for February 5, 2021. Read More
Below are Evergreen Gavekal's Likes/Dislikes for January 29, 2021. Read More
In a press conference on Tuesday, President Biden announced that the federal government is working to purchase an additional 200 million doses of Pfizer and Moderna’s COVID-19 vaccines, with the goal of having enough supply to vaccinate the entire adult U.S. population by the end of the summer. Read More
Lewis Carrol’s tale summarizes the intuition behind the paradox of quantum superposition: in Schrödinger’s famous thought experiment, a cat can be both alive and dead at the same time. Schrödinger’s twisted logic was surely required to make sense of a week during which a mob stormed the U.S. capitol and stock prices broke multiple records. Read More
Below are Evergreen Gavekal's Likes/Dislikes for January 22, 2021. Read More
Below are Evergreen Gavekal's Likes/Dislikes for January 15, 2021. Read More
Over the past two years, we have penned two separate letters highlighting some of the most high-profile Initial Public Offerings (IPOs) to hit markets. During that time, many of the companies we’ve discussed have had blockbuster performances, turning from promising unicorns, to high-flying publicly traded companies and ascending well beyond their list price over a very short period of time. Read More
Below are Evergreen Gavekal's Likes/Dislikes for January 8, 2021. Read More
The U.S. political scene took center stage this week as many American’s sat stunned as we witnessed unbelievable footage of the riot on Capitol Hill. Yet, nearly as surprising was the reaction of the stock market, which rose 1.1% on Wednesday and another 1.48% on Thursday, despite the chaos that erupted during Wednesday’s Congressional electoral college vote. Read More
