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NetWorth Radio


The unique NetWorth Radio broadcast delves deep into the most important headlines and the actual meaning for investors. Interviews with nationally acclaimed authors and Dallas business leaders bring to life investment strategy in a unique and exciting format. The author of two books and 31 investment articles, Spencer is a Certified Investment Management Analyst who manages portfolios for successful families.

Mar 27, 2015

Click here for this week's charts.

Last week’s rally that corresponded to the Federal Reserve lowering estimates for future interest rate increases ended abruptly on Wednesday. The question of corporate growth rates was raised by a contraction in the durable goods orders for the month of February. The drop was actually over twice as much as the remaining year over year growth rate. With first quarter earnings reports coming in April, portfolio managers appear anxious about how to price the shares of companies whose growth rates may be stalled. The sell off mid week after the durable goods report was more pronounced for the Nasdaq Index indicating that without growth the forward earnings yield, rates of return, are lower. Advance Report on Durable Goods Manufacturers’ Shipments, Inventories and Orders

A great example of the aggressive re-pricing is the sell off in memory titan Sandisk


Dilution or Delusion?

Energy investors were given clear signals about potential dangers ahead for the rest of 2015 with two shareholder air pockets spilling substantial value almost instantly. Denver based Whiting Petroleum had rallied to about $40 after Whiting essentially put the company for sale. In a move that confirmed no one wants to even court Whiting, the company announced it would sell 35 million additional shares and issue $1.75 Billion in new convertible (further dilution) debt. Shareholders lost about 25% of their value almost instantly. Dallas based Enlink, created by the merger of Devon and Crosstex mid stream pipeline assets, lost about 10% mid week upon the announcement that they were issuing shares as well. The scramble to raise capital quickly indicates CFO’s may be anticipating that access to capital for energy companies is drying up.


What about Dallas?

This Week’s Powerful Interview: Grant English, Dallas Commercial Real Estate Expert.

Grant English

Senior Associate of Transwestern

Grant M. English provides innovative thinking and strategic planning to develop unique real estate solutions for local and national clients, focused on maximizing their companies’ business objectives and financial goals. By always putting his clients first, Grant delivers unparalleled service with a commitment to excellence, backed by Transwestern’s fully integrated service lines, resources and expertise. He attributes his diversified client base of technology, healthcare, construction and financial services companies to his focus on the fostering of long-term relationships built on a foundation of trust, hard work and a servant’s heart. To subscribe to Grant M. English's Daily Local, State & National Real Estate News please email Grant.English@transwestern.com

MGAM client intelligence reported trouble in Tulsa and Houston related to layoffs as well as large tracks of office space hitting the market. Those of us with ownership stakes in North Texas get a first hand briefing on local commercial real estate activity: Has Dallas begun to contract? Energy exposure? Big Projects Underway? Specific Activity Examples?

Fixed Income Intelligence Report

Keeping some dry gun powder (cash) could be a powerful tool by year end: Could the Fed hand you cheap municipal bonds? After lengthy discussions of when the Fed funds rate will be raised, in a potentially misguided ruling, the Fed could force banks to sell high quality municipal bonds at discount prices: Treasury Yields Decline Sharply on Fed Statement

- Nuveen Asset Management


Featured Research:

Negative Energy in U.S. Corporate Credit

- Symphony Asset Management


Call to Action:

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