Paul Goodwin, editor of Cabot China & Emerging Markets Report, explains his global strategy and highlights some favorite investing ideas, from Latin America to Asia.
Steve Halpern: We are here today with Paul Goodwin, editor of Cabot China & Emerging Markets Report. How are you doing, Paul?
Paul Goodwin: I am fine, thanks.
Steve Halpern: You developed an emerging markets timing system which lets you know whether to be adding to your positions or scaling back. Could you tell us a little about your system, and what the outlook for emerging markets is, based on that?
Paul Goodwin: Sure. The Cabot Market Timing Strategy is based on the idea that it isn't really possible to know what markets are going to do in the future, but we can certainly know what they are doing right now.
We use a 25 and 50-day simple moving average on the particular index that we're using, which, in my case, is the Power Shares Golden Dragon China, and we see if the index is above its 25 and 50-day moving averages, and if those averages are moving up.
Hot Semiconductor Companies To Watch For 2015: Health Care REIT Inc (HCN)
Health Care REIT, Inc., incorporated on April 4, 1985, is a real estate investment trust (REIT). The Company�� portfolio has range of seniors housing and healthcare real estate, including seniors housing communities, skilled nursing/post-acute facilities, medical office buildings, inpatient and outpatient medical centers and life science facilities. The Company operates in three segments: seniors housing triple-net, seniors housing operating and medical facilities. Its properties primarily consists of land, building, improvements and related rights. The Company�� hospitals and seniors housing triple-net properties are leased to operators under long-term operating leases. Its medical office building portfolio is primarily self-managed and consists principally of multi-tenant properties leased to health care providers. On January 9, 2013, the Company acquired Sunrise Senior Living, Inc. property portfolio, and the sale of the Sunrise management company. In October 2013, the Company announced the acquisition of the Willows at Hamburg from Health Care REIT, Inc.
Seniors Housing Triple-Net
The Company�� seniors housing triple-net properties include independent living facilities, continuing care retirement communities, assisted living facilities, Alzheimer��/dementia facilities, skilled nursing/post-acute facilities and combinations thereof. It invests primarily through acquisitions and development. Its properties are primarily leased to operators under long-term, triple-net master leases. Its properties include stand-alone facilities that provide one level of service, combination facilities that provide multiple levels of service, and communities or campuses that provide a range of services. Independent living facilities are age-restricted, multifamily properties with central dining facilities that provide residents access to meals and other services, such as housekeeping, linen service, transportation and social and recreational activities. Continuing care retirement comm! unities include a combination of detached homes, an independent living facility, an assisted living facility and/or a skilled nursing facility on one campus.
Assisted living facilities are state regulated rental properties that provide the same services as independent living facilities, but also provide supportive care from trained employees to residents who require assistance with activities of daily living, including, but not limited to, management of medications, bathing, dressing, toileting, ambulating and eating. Certain assisted living facilities may include state licensed settings that specialize in caring for those afflicted with Alzheimer�� disease and/or other types of dementia. Skilled nursing/post-acute facilities are licensed daily rate or rental properties where the majority of individuals require 24-hour nursing and/or medical care. All facilities offer some level of rehabilitation services. Some facilities focus on higher acuity patients and offer rehabilitation units specializing in cardiac, orthopedic, dialysis, neurological or pulmonary rehabilitation. The Company leases 177 facilities to Genesis HealthCare, LLC pursuant to a long-term, triple-net master lease.
Seniors Housing Operating
The Company has relationships with eight operators to own and operate 154 facilities (plus 39 facilities in an unconsolidated joint venture). In each instance, its partner provides management services to the properties pursuant to an incentive-based management contract.
Medical Facilities
The Company�� medical facilities include medical office buildings, hospitals and life science facilities. It leases its medical office buildings to multiple tenants and provides varying levels of property management. The Company�� hospital investments are structured similar to its seniors housing triple-net investments. The medical office building portfolio consists of health care related buildings that include physician offices, ambulatory surgery! centers,! diagnostic facilities, outpatient services and/or labs. Approximately 92% of its medical office building portfolio is affiliated with health systems by having buildings on hospital campuses or serving as satellite locations for the health system and their physicians.
The Company�� hospitals include acute care hospitals, inpatient rehabilitation hospitals, and long-term acute care hospitals. Acute care hospitals provide a range of inpatient and outpatient services, including, but not limited to, surgery, rehabilitation, therapy and clinical laboratories. Inpatient rehabilitation hospitals provide inpatient services for patients with intensive rehabilitation needs. Long-term acute care hospitals provide inpatient services for patients with complex medical conditions that require more intensive care, monitoring or emergency support than is available in most skilled nursing facilities. The life science portfolio consists of laboratory and office facilities designed and constructed for use by biotechnology and pharmaceutical companies.
Advisors' Opinion:- [By Ben Levisohn]
In the first-full day of trading after the Fed’s decision to bring on the taper, stocks ended mixed–and just barely, at that–as Chevron (CVX), International Business Machines (IBM) and Walt Disney (DIS) rose, and Health Care REIT�(HCN) andDarden Restaurants (DRI) fell.
Best Industrial Disributor Companies To Own For 2014: AMREP Corp (AXR)
AMREP Corporation, incorporated on August 7, 1987, through its subsidiaries, is engaged in four business segments: the Subscription Fulfillment Services business operated by Palm Coast Data LLC (Palm Coast), the Newsstand Distribution Services business, the Product Services and Other businesses operated by Kable Media Services, Inc. and its subsidiaries (Kable) (the businesses operated by Palm Coast and Kable are collectively referred to as Media Services), and the real estate business operated by AMREP Southwest Inc. and its subsidiaries (collectively, AMREP Southwest). The Company, through its Palm Coast subsidiary, conducts its Subscription Fulfillment Services business, in which it performs subscription fulfillment and related services for publishers and other customers; through its Kable Newsstand Distribution Services subsidiary distributes periodicals nationally and in Canada and in other foreign countries, and through its Kable Product Services, Specialty Packaging Services and Staffing Resources subsidiaries, provides Internet order processing and shipment for e-commerce retailers, packaging design, procurement and product fulfillment services and temporary staffing services. In January 2013, the Company's subsidiary, had acquired certain assets of FulCircle, Inc.
Subscription Fulfillment Services
The Subscription Fulfillment Services business performs fulfillment and fulfillment-related activities, principally magazine subscription fulfillment services and ancillary services. During the fiscal year ended April 30, 2012 (fiscal 2012), it accounted for approximately 75% of Media Services revenues. In the magazine subscription fulfillment services operation, Palm Coast maintains subscriber lists and databases, processes new orders, receives and accounts for payments, prepares and transmits to each publisher�� printer the labels or tapes containing the names and addresses of subscribers for mailing each issue, handles subscriber telephone inquiries and correspondence,! prepares renewal and statement notifications for mailing, generates marketing and statistical reports, processes Internet orders and prints forms and promotional materials. List services clients are publishers for whom Palm Coast maintains client customer lists, selects names for clients who rent their lists, merges rented lists with a client�� lists to eliminate duplication for the client�� promotional mailings, and sorts and sequences mailing labels. Palm Coast performs subscription fulfillment services for approximately 450 different magazine titles for approximately 110 clients and maintains databases of approximately 41 million active subscribers for its client publishers and membership organizations.
Newsstand Distribution Services
In the Company�� Newsstand Distribution Services business, Kable distributes over 450 publications for approximately 200 publishers. Among the titles are special interest magazines, including hobbyist, celebrity, puzzle, automotive, comics, women�� service and sports magazines. In a typical month, Kable distributes approximately 47 million copies of various titles to wholesalers. Kable coordinates the movement of the publications from its publisher clients to approximately 100 independent wholesalers in North America and to wholesalers in over 80 countries globally. The wholesalers in turn sell the publications to retail chains and independent retail outlets. During fiscal 2012, the Newsstand Distribution Services business accounted for approximately 11% of Media Services revenues. Kable generates and delivers to each publisher�� printer shipping instructions with the addresses of the wholesalers and the number of copies of product to be shipped to each.
Product Services and Other
Together, Kable Product Services and Kable Specialty Packaging Services (collectively, Product Services) offer an integrated approach to electronic and traditional commerce for consumer products manufacturers, including both publ! ishing an! d non-publishing customers. The business unit provides account management by customer; design, procurement, and packaging of retail packs and point-of-purchase displays; front-end processing, including customer out-reach through e-commerce, direct mail and phone; order capturing through electronic mediums, as well as traditional call center operations, mail capture and entry; warehousing and pick/pack/ship functions, including analysis of shipping methods, and billing, as well as collection of payments tendered by credit cards, checks and cash.
As an adjunct to the Subscription Fulfillment Services business, Product Services offers fulfillment services to their publishers, including shipment of premiums (free gifts) provided to subscribers, shipment of replacement copies of newly issued magazines or purchased copies of older editions and shipment and payment processing for product advertised for sale in their publishers��magazines or associated Websites. Kable Staffing Resources (Staffing Resources) operates as a separate business, which provides temporary employees to local companies in the Fairfield, Ohio area, including its affiliate Product Services. During fiscal 2012, together, they accounted for approximately 14% of Media Services revenues in 2012.
Real Estate Operations
The Company conducts its Real Estate business through AMREP Southwest, with these activities occurring in the City of Rio Rancho and adjoining areas of Sandoval County, New Mexico. Rio Rancho consists of 91,049 acres in Sandoval County near Albuquerque, of which approximately 74,100 acres have been platted into approximately 114,680 residential and commercial lots, approximately 16,500 acres are dedicated to community facilities, roads and drainage and the remainder is unplatted land. As of April 30, 2012, approximately 91,000 of these residential and commercial lots had been sold by AMREP Southwest net of lots repurchased and those returned to AMREP Southwest by deeds in lieu of foreclosu! re. As of! April 30, 2012, AMREP Southwest owns approximately 17,350 acres in Rio Rancho, of which approximately 4,415 acres are in several areas of contiguous properties, which are being developed or are suitable for development, and approximately 2,000 acres are in areas with a concentration of ownership, where AMREP Southwest owns more than 50% of the lots in the area.
At Rio Rancho, AMREP Southwest develops both residential lots and sites for commercial and industrial use as demand warrants, and also secures entitlements for development tracts for sale to homebuilders. AMREP Southwest also owns two tracts of land in Colorado, consisting of one property of approximately 160 acres planned for approximately 400 homes that AMREP Southwest focuses to offer for sale upon obtaining all necessary entitlements, and one property of approximately 10 acres zoned for commercial use.
Advisors' Opinion:- [By Damian Illia]
As we can see, the firm has a higher ROE than Amrep Corporation (AXR) but is well below the one registered by US Ecology Inc. (ECOL) and Cintas Corporation (CTAS).
Best Industrial Disributor Companies To Own For 2014: Plains Exploration & Production Company(PXP)
Plains Exploration & Production Company, an independent oil and gas company, primarily engages in acquiring, developing, exploring, and producing oil and gas in California, Texas, and Louisiana. It owns oil and gas properties with principal operations in onshore California; offshore California; the Gulf Coast region, including Haynesville Shale, Eagle Ford Shale, and south and east Texas; the Mid-Continent region; and the Rocky Mountains. As of December 31, 2010, the company had estimated proved reserves of 416.1 million barrels of oil equivalent. Plains Exploration & Production Company was founded in 2002 and is headquartered in Houston, Texas.
Advisors' Opinion:- [By Dan Caplinger]
1 (tie). Louisiana, March 29
Louisiana climbs to the top spot by keeping property taxes below $750 and collecting just a 4% sales tax, although local options add nearly 5 percentage points to that figure and make the state one of the highest-collecting sales-tax states. Although extensive activity from energy producers Chesapeake Energy (NYSE: CHK ) , Encana (NYSE: ECA ) , and Plains Exploration (NYSE: PXP ) in the Haynesville-Bossier shale play could boost incomes and lead to higher taxes, much of Louisiana's sales tax revenue comes from out-of-state tourists visiting the state, leaving the actual amount borne by residents even lower. A 6% income tax isn't enough to push Louisiana out of the top spot.
Best Industrial Disributor Companies To Own For 2014: Echo Global Logistics Inc (ECHO)
Echo Global Logistics, Inc. (Echo) is a provider of technology enabled transportation and supply chain management services. Its Web-based technology platform compiles and analyzes data from its network of over 24,000 transportation providers to serve its clients' shipping and freight management needs. Its technology platform, composed of Web-based software applications and a database, enables it to identify excess transportation capacity, obtain competitive rates, and execute thousands of shipments every day. It focuses on arranging transportation across truckload (TL) and less than truck load (LTL), and it also offers small parcel, inter-modal (which involves moving a shipment by rail and truck), domestic air, expedited and international transportation services. Its logistics services include rate negotiation, shipment execution and tracking, carrier management, routing compliance, freight bill audit and payment and performance management reporting, including executive dashboard tools. Effective January 1, 2011, the Company acquired Nationwide Traffic Services, LLC. (Nationwide) Effective July 1, 2011, the Company acquired Advantage Transport, Inc. (Advantage). Effective December 1, 2011, the Company acquired the stock of Trailer Transport Systems (TTS). In June 2012, the Company acquired Plum Logistics, LLC. In July 2012, it acquired all of the assets of Shipper Direct Logistics, Inc. In October 2012, the Company acquired Sharp Freight Systems, Inc.
The Company�� clients fall into two categories, enterprise and transactional. Its enterprise clients outsource their transportation management function to Echo. It enters into multi-year contracts with its enterprise clients. As part of its value proposition, it also provides core logistics services to these clients, including the management of both freight expenditures and logistical issues surrounding freight to be transported. It provides transportation and logistics services to its transactional clients on a shipment-by-shipment basis.! It is a non-asset-based provider of technology enabled transportation and logistics services. Through its carrier network, it provides transportation services using a range of modes of transportation.
Transportation Services
The Company provides Truckload (TL) services across all TL segments, including dry vans, temperature-controlled units and flatbeds. Using its LaneIQ technology, it provide advanced dispatch, communication and data collection tools and capacity information to its clients on a real-time basis. The Company provides less than truckload (LTL) services involving the shipment of single or multiple pallets of freight. Using its RateIQ 2.0 technology, it obtains real-time pricing and transit time information for every LTL shipment from its database of LTL carriers. It provides small parcel services for packages of all sizes. Using its EchoPak technology, it delivers cost saving opportunities to its clients. Inter-modal transportation is the shipping of freight by multiple modes, using a container that is transferred between ships, railcars or trucks. It offers inter-modal transportation services for its clients, which utilizes both trucks and rail. The Company provides domestic air and expedited shipment services for its clients when traditional LTL services do not meet delivery requirements. It uses ETM track and trace tools for up to date information to its clients through EchoTrak. The Company provides air and ocean transportation services for its clients, offering a comprehensive international delivery option to its clients.
Logistics Services
In addition to arranging for transportation, the Company provides logistics services, either on-site (in the case of some enterprise clients) or off-site, to manage the flow of those goods from origin to destination. Its core logistics services include rate negotiation; procurement of transportation, both contractually and in the spot market; shipment execution and tracking; carrier management, ! reporting! and compliance; executive dashboard presentations and detailed shipment reports; freight bill audit and payment; claims processing and service refund management; design and management of inbound client freight programs; individually configured Web portals and self-service data warehouses; enterprise resource planning (ERP) integration with transactional shipment data, and integration of shipping applications into client e-commerce sites. Customers communicate their freight needs, typically on a shipment-by-shipment basis, to the individual or team responsible for their account. Customers communicate with it by means of telephone, fax, Internet, e-mail, or Electronic Data Interchange (EDI).
Technology Platform
The Company�� ETM technology platform allows it to analyze its clients' transportation requirements and provide customized shipping recommendations. It collects and store pricing and market capacity data in its ETM database from each interaction with carriers, and its database expands as a result of these interactions. It has also developed data acquisition tools, which retrieve information from both private and public transportation databases, including subscription-based sources and public transportation rate boards, and incorporate that information into the ETM database. Its clients communicate their transportation needs to it electronically through its EchoTrak web portal, other computer protocols, or by phone. ETM generates pricing and carrier information for its clients by accessing pre-negotiated rates with preferred carriers or using present or historical pricing and capacity information contained in its database. If a client enters its own shipment, ETM automatically alerts the appropriate account executive. After the carrier is selected, either by it or the client, its account executives use its ETM technology platform to manage all aspects of the shipping process.
The Company�� FastLane is an Internet-based Web portal, which allows its carriers! to view ! shipments available for tender, update equipment availability and preferred lanes, check on the status of all unpaid invoices, unbilled shipments, shipments in transit and other information used to resolve any billing discrepancies. There is also a mobile FastLane application, which allows carriers to view similar information remotely. eConnect is a set of tools, which allows the Company�� clients and carriers to interact directly with ETM electronically through any of several computer protocols, including EDI, extensible markup language (XML) and file transfer protocol (FTP). The eConnect tools serve as an electronic bridge between the other elements of its ETM technology platform and its clients' enterprise resource planning (ERP), billing, accounts receivable, accounts payable, order management, back office and e-commerce systems. Through eConnect, its clients are able to request shipping services and receive financial and tracking data using their existing systems.
EchoTrak is an Internet-based Web portal, which connects and integrates its clients with ETM. By entering a username and password, its clients are able to enter orders, display historical and active shipments in the ETM system using configurable data entry screens sorted by carrier, price, delivery date, destination and other relevant specifications. EchoTrak also generates automatic alerts to ensure that shipments are moving in accordance with the client specifications and timeline. There is also a mobile EchoTrak application, which allows customers to perform similar functions remotely. RateIQ2.0 is a pricing engine, which manages LTL tariffs and generates rate quotes and transit times for LTL shipments. RateIQ2.0 also provides integrated tools to manage dispatch, communications, data collection and management functions relating to LTL shipments. LaneIQ is a pricing engine, which generates rate quotes for TL shipments. LaneIQ also provides integrated tools to manage dispatch, communications, headhaul and backhaul data col! lection a! nd management functions relating to TL shipments. EchoPak is a small parcel pricing and audit engine. For each small parcel shipped, EchoPak audits carrier compliance with on-time delivery requirements and pricing tariffs. In addition, EchoPak tracks information for each parcel and is able to aggregate and analyze that data for clients. For instance, clients are able to view shipments by date, business unit, product line and location, and clients can access information regarding service levels and pricing.
The Company�� Shipment Tracking stores shipment information en-route and after final delivery. The shipment data is acquired through its carrier EDI integration, allowing its clients to track the location and status of all shipments on one screen, regardless of mode or carrier. Final delivery information is permanently archived, allowing it to provide its clients with carrier performance reporting by comparing actual delivery times with the published transit time standards.
Document Imaging allows the Company to store digital images of all shipping documents, including bills of lading and delivery receipts. CAS (Cost Allocation System) automatically audits carrier invoices against its rating engine and accounts payable accrual system. If the amounts match, the invoice is automatically released for payment. If the amounts do not match, the invoice is sent to various administrative personnel for manual processing and resolution. CAS also integrates to its general ledger, accounts receivable and accounts payable systems. Accounting includes its general ledger, accounts receivable and accounts payable functions. Accounting is integrated with CAS and EchoIQ. EchoIQ stores internally and externally generated data to support its reporting and analytic functions and integrate all of its core applications with ETM. ETM supports its logistics services, which it provides to its clients as part of its value proposition. Its ETM technology platform is able to track individual shipments ! and provi! de customized data and reports throughout the lifecycle of the shipment, allowing it to manage the entire shipping process for its clients. It also market Flex TMS.
The Company competes with C.H. Robinson Worldwide, Total Quality Logistics, UPS, FedEx, Schneider, Conway, JB Hunt and ABF.
Advisors' Opinion:- [By Will Ashworth]
Without further adieu, here are my five best stocks for the next 20 years:
Best Stocks #1 (Small Cap): Echo Global Logistics (ECHO)
Echo Global Logistics (ECHO) uses web-based proprietary technology to provide business process outsourcing to the transportation industry. Founded in 2005, ECHO serves more than 28,500 small- and midsize customers who use its technology to access the best shipping prices from a network of 24,000 carriers in a matter of seconds.
- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Echo Global Logistics (Nasdaq: ECHO ) , whose recent revenue and earnings are plotted below.
Best Industrial Disributor Companies To Own For 2014: Triple-S Management Corporation (GTS)
Triple-S Management Corporation, through its subsidiaries, offers a portfolio of managed care and related products in the commercial and Medicare markets in Puerto Rico. The company operates in three segments: Managed Care, Life Insurance, and Property and Casualty Insurance. It provides managed care products, including health maintenance organization plans; preferred provider organization plans; Medicare Supplement products; Medicare Advantage products; Medicaid plans; and Medicare Part D, a prescription drug plan; and claims processing and other administrative services. The company offers its managed care products to employers, professional and trade associations, individuals, and government entities. It also provides various life, accident, disability, and health and annuity insurance products to individuals; and property and casualty insurance products, which include commercial multi-peril, commercial property mono-line, auto physical damage, auto liability, and dwelli ng policies to commercial customers. The company markets its products through a network of internal sales force, direct mail, independent brokers and agents, telemarketing staff, and the Internet. Triple-S Management Corporation was incorporated in 1997 and is based in San Juan, Puerto Rico.
Advisors' Opinion:- [By Brian Pacampara]
What: Shares of Puerto Rican managed-care company Triple-S Management (NYSE: GTS ) popped 11% today after its quarterly results topped Wall Street expectations.
Best Industrial Disributor Companies To Own For 2014: Nortel Inversora SA ADR(NTL)
Nortel Inversora S.A., through its subsidiary, Telecom Argentina S.A., provides telecommunication services in Argentina and Paraguay. It offers voice, data, and Internet services that include local area, national long-distance, and international communications; supplementary services comprising call waiting, itemized invoicing, and voicemail; interconnection with other operators; data transmission consisting of private networks, point-to-point traffic, radio, and TV signal transmission; outsourcing of IT solutions; and Internet services. The company also provides wireless services, including high-speed wireless, videoconferencing, full track download, multimedia messaging, online streaming, corporate mailing, and BlackBerry solutions over various networks; and involves in the sale of wireless communication devices, such as cellular phones, 3G modems, 3G hotspots, wireless Internet, and netbooks. Nortel Inversora S.A. was founded in 1990 and is based in Buenos Aires, Argent ina.
Advisors' Opinion:- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Nortel Inversora (NYSE: NTL ) , whose recent revenue and earnings are plotted below. - [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Nortel Inversora (NYSE: NTL ) , whose recent revenue and earnings are plotted below.
Best Industrial Disributor Companies To Own For 2014: Apollo Investment Corporation(AINV)
Apollo Investment Corporation is business development company and operates as a closed-end management investment company. The company invests in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The company may also invest in public companies that are thinly traded and may acquire investments in the secondary market. It prefers to invest in warrants, makes equity co-investments, and may also invest in cash equivalents, U.S. government securities, high-quality debt investments that mature in one year or less, high-yield bonds, distressed debt, non-U.S. investments, or securities of public companies that are not thinly traded. The company typically invests in building materials, business services, cable television, chemicals, consumer products, direct marketing, distribution, energy and utilities, financial services, healthcare, manufacturing, media, publishing, retail and transportation. It primarily invests between $20 million and $250 million in its portfolio companies. The company seeks to make investments with stated maturities of five to ten years.
Advisors' Opinion:- [By Tim Melvin]
Here are a couple private equity-powered dividend stocks on my radar right now:
Apollo Investment (AINV)Apollo Global Management (APO) is one of the world�� largest asset management and private equity firms with more than $100 billion under management. Its largest publicly offered vehicle is Apollo Investment (AINV), a business development company that invests in and ends to middle-market companies and pays out 90% of its net income to shareholders.
- [By MONEYMORNING]
He's much better off in "total return" holdings, like Apollo Investment Corp. (Nasdaq: AINV) which we covered right here, and Kinder Morgan Energy Partners LP (NYSE: KMP), another long-term winner.
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