Will Constellation Brands’ Transformation Into a Beer Company Go Flat?

Constellation Brands (STZ), the world’s largest publically-traded winery, is set to report fiscal third quarter 2014 earnings tomorrow morning.   The consensus has Constellation earning 89 cents per share on revenues $1.4 billion.

I’ve never been a big fan of Constellation, as the economics of [...] Continue Reading…

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Outlook for Gold in 2014

Gold had a rough 2013. With a loss of 28% on the year, the spot price of gold was down by nearly the same percentage that the S&P 500 was up.  And I don’t expect gold to regain its [...] Continue Reading…

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Mea Culpa: Shorting Japanese Bonds

You don’t get every trade right, unfortunately.  Sometimes, even the best-thought-out investment thesis turns out to be flat-out wrong.

My biggest blunder of 2013?  Shorting Japanese bonds.

In the June issue of Macro Trend Investor (formerly the Sizemore Investment Letter) I [...] Continue Reading…

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2014: Year of the REIT?

2013 has been a great year—so great, in fact, that I hate to see it end. As I’m writing this, there are still a couple hours until the market closes, so I can’t give you exact year-end figures. But [...] Continue Reading…

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It’s Time to Buy Chinese Stocks

In case you missed the news, China’s capital markets had a mild panic attack in the days before Christmas as interbank lending rates—i.e. the rates that China’s banks charge to each other for short-term loans—shot through the roof, topping [...] Continue Reading…

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