Posts Tagged ‘AMED’

Open Letter to the Securities and Exchange Commission: Investigate Troubling Issues at Amedisys Missed by Wall Street Journal

Open Letter to the Securities and Exchange Commission: Investigate Troubling Issues at Amedisys Missed by Wall Street Journal

Courtesy of Sam Antar of White Collar Crime 

To Securities and Exchange Commission Chairperson Mary Schapiro:

On June 30, 2010, Amedisys (NASDAQ: AMED) announced that it "received notice of a formal investigation from the Securities and Exchange Commission (SEC) pertaining to the company, and received a subpoena for documents relating to the matters under review by the Senate Finance Committee." The SEC investigation follows an April 2010 Wall Street Journal report questioning Amedisys’s Medicare reimbursement patterns and raising serious questions about possible abuse by the company of Medicare’s reimbursement system. In mid-June 2010, several class action lawsuits were filed against Amedisys alleging securities fraud, based on the Wall Street Journal report.

In my analysis below, I will provide additional troubling data and issues missed in the Wall Street Journal report and not cited in the various class action lawsuits for the SEC to consider in its investigation.

Background

The analysis is based entirely on information derived from Amedisys’s public disclosures in various reports filed with the SEC. Those reports provide certain statistical information about Medicare episodic, non-Medicare episodic, and non-Medicare/non-episodic home health care visits, admissions, and recertifications for each reporting period.

Amedisys further categorizes that data by base/start-up entities and acquired entities for each reporting report. Amedisys defines Base/Start-up agencies as agencies that were originally opened by the company and acquired entities owned by the company for at least a year.

Therefore, the analysis below is based almost entirelry on Amedisys’s statistical data for base/start-up agencies to provide a consistent apple-to apples comparison of the data.

Note: Download entire work sheet here (formatted for legal sized paper).

What explains the sudden increase in the growth of in base/startup Medicare episodic visits per admission?

Prior to Q2 2007, Amedisys reported fairly typical (i.e., moderate) growth in visits per Medicare episode. For example, during 2006, the number of visits per Medicare admission for base/start-up agencies increased to 29.4 visits per admission from 28 visits per admission in 2005, or a 2.2% increase over the previous comparable period. See the chart below:

Similarly, in Q1 2007, base/start-up Medicare episodic visits per admission declined to 29.1 visits per admission compared to 29.4 visits per admission in Q1 2006 or a 1.2 decrease from the previous year comparable period. See the chart below:

Starting in Q2…
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Class Action Complaint against Amedisys uses Sarbanes-Oxley Act Corporate Governance Provisions to Battle Alleged Corporate Malfeasance

Interesting to note that these actions are not being brought because Amedisys may have gamed the Medicare System but rather on the basis that if it did in fact game it, AMED had an ethical obligation to disclose its tactics. - Ilene 

Class Action Complaint against Amedisys uses Sarbanes-Oxley Act Corporate Governance Provisions to Battle Alleged Corporate Malfeasance

Courtesy of Sam Antar, White Collar Fraud 

Last week, Pomerantz Haudek Grossman & Gross LLP filed a class action lawsuit against Amedisys (NASDAQ: AMED) charging the company, its CEO William F. Borne and its CFO Dale E. Redman with securities fraud.  In the next few days, Bernstein Liebhard LLP and Finkelstein Thompson LLP filed similar class action lawsuits against the company. The lawsuits allege that Amedisys abused Medicare’s reimbursement system for at-home therapy care based on a compelling analysis of company revenues in an April 27 Wall Street Journal article.

In addition, the lawsuits innovatively utilize a provision under Section 406 of the Sarbanes-Oxley Act 2002 which provides a back-door way for investors to force ethical corporate governance and sue public companies for malfeasance. That provision requires Senior Financial Officers, such as the CEO and CFO of public companies, to abide by a strict code of ethics which broadly defines corporate malfeasance and effectively makes it easier for defrauded investors to prove misconduct by certain senior executives. Suing public companies for code of ethic violations can be a potent tool to insure good corporate governance and conduct.

Allegations that Amedisys intentionally increased patient visits to trigger higher Medicare reimbursements

According to the Pomerantz press release:

Specifically, the Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s reported sales and earnings growth were materially impacted by a scheme whereby the Company intentionally increased the number of in-home therapy visits to patients for the purpose of triggering higher reimbursement rates under the Medicare home health prospective payment system, as those excess visits were not always medically necessary; (2) that the Company’s reported sales and earnings were inflated by said scheme and subject to recoupment by Medicare; (3) that the Company was in material violation of its Code of Ethical Business Conduct and compliance due to the scheme to inflate Medicare revenues; and (4) based on the foregoing, defendants lacked a basis for their positive


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AMED positioning to become the 800lb gorilla of Home Healthcare

Courtesy of Philstockworld.com contributor tuscasdog. – Ilene 

AMED positioning to become the 800lb gorilla of Home Healthcare 

Zoo Keepers Offer Gorillas A Cooling Treat To Help Cope In Hot Conditions

Insights from my interviews with AMED management & updated eps forecasts:

It’s baffling why analysts are surprised that the HC bill will reduce Medicare billing rates.  It’s clearly documented in the Senate bill.  AMED has explained in several recent presentations how it is prepared for these changes and will react by aggressively accelerating the acquisition program and industry roll up to maybe 20 players from 12,000 currently.  CEO Bourne has stressed that AMED has got a robust acquisition pipeline.  AMED was previously restricting acquisition negotiations to companies with less than $100 million sales until there was clarity on the Healthcare bill package, which impacts seller pricing expectations – this is now resolved. 

Acquisitions have been highly accretive to AMED and the payback has always been less than 3 years.

AMED employs the ‘bank roll up model’ which exploits tremendous systems efficiency and cost reduction through application of accelerating scaled operating leverage.  AMED is well financed to execute the plan with $260 million of operating cash flow  and ample lines of credit.

Most of AMED’s customers are in their 80’s and are covered by Medicare, so the extended coverage of the Senate bill has only a limited impact on potential AMED volumes.  The newly insured (under 65) will be mainly seeking doctors, treatments, drugs, surgery and hospital care.  Yes, some of the 35 million will gain home healthcare (hhc) following accidents, diabetes, heart attacks, cancer, surgery etc.  I have not built any incremental volume impact into my financial projections, but I would argue that this additional covered population underpins the belief that AMED can sustain strong volume growth.

Pricing is a complex and political dynamic with many moving parts.  Not every analyst understands the complex formulae details: considerations include market basket impact on inflation adjustment, productivity adjustments, case creep (and expiry in 2011), outlier premiums and caps, rebasing, CMS holdbacks etc.

Most of the analysts have about a 2% net price reduction assumption for 2011.  But they have been slow to recognize that the 2010 pricing has a ‘one time’ bonus of 2.5% released by CMS out of the 5% funding holdback reserve and this went into the base rate for 2010.  But, this 2.5% will be taken out of the base rate in 2011.  So, the analysts are understating pricing…
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Weekly Wrap-Up – Buffett’s Daring Derivative Deal Does Well

I was going to talk about Buffett's annual letter to investors.

Fortunately, I procrastinated and other people did some detailed reporting like Ravi Nagarajan, Andy Fry, Scott Patterson and Joe Del Bruno – who does a great job of pointing out that Berkshire's 4th quarter results were propped up by Buffett's $1.05Bn gains in derivatives betting (something Buffett himself once called "weapons of mass financial destruction" but, as we well know – if you can't beat them…), which accounted for 1/3 of Berkshire's $3.06Bn profits

Buffett's biggest bet was selling a put against the S&P 500 back in March – a move I said at the time was BRILLIANT and Buffett himself now says about his own options trading:  "We are delighted that we hold the derivatives contracts that we do.  To date, we have significantly profited from the float they provide. We expect also to earn further investment income over the life of our contracts."  

What did Buffett do?  Exactly what we teach you to do here at PSW - he took advantage of an irrational move in the markets and SOLD INTO THE EXCITEMENT, getting a fat premium from some sucker that bet the S&P would not hold 666 5 years from now.  Buffett effectively sold $5Bn worth of puts that expires worthless at S&P 700 between 2019 and 2027, putting $5Bn in his pocket and holding aside $1Bn in margin, which is how much he's already ahead on the bet.  Like a good options trader, he has a plan and he's trading his plan, making sure his investment is on track and patiently letting time do it's work as it eats away at the put-holder's premium. 

What about the risk?  Well I can't speak for Buffett's stop-loss technique but we're talking about a company that has (had) $40Bn in cash using their excess margin to make a $5Bn bet that the S&P would not stay below 700 for 10 years.  Buffett and I both tell people – NEVER buy a stock (or sell a put against one) that you are not willing to own for 10 years.  The S&P was 5% below at the time and would have had to drop, perhaps, 20% more to cost him $1Bn so let's call the stop 550 on the S&P where Buffett risked 2.5% of his cash against a posible 400% gain on his $1Bn risk allocation over 10+ years.  While it is true that if the
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Prior Weekly Wrap-Up – February Expiration Day Special!

I didn't get to do a wrap-up last week so we have a lot of trades to go over and, with expiration looming and the Fed tightening, I thought it would be good to just get the list out on Friday so we can adjust our rolls to March where neccessary (in bold under appropriate positions).

In our Feb 7th Wrap-Up, I was gung-ho bullish saying "It's Only a 55-Point Drop You Wimps!" and we had  been BUYBUYBUYing at the bottom all week, especially Wed-Fri as the market spiked through our projected support at Dow 10,000 but not enough to change our minds as we bottom-fished on AAPL (2 trades), ABX, ACOR, AKAM, AMED, BRK/B (2), C, CCJ (3), CSCO, DELL, FXI, GE,  GOOG, IBM, LLY, LOW, NLY, TBT (5 times!), TM (3), TNA, USO (yep, we wen long oil) and UYG.  To say we were weigting bullish by that Monday was an understatement as we has finished the weekend in a bullish stance and were relying on our disaster hedges to protect us

Those disaster hedges are an interesting set to look at, especially now that we've recovered 400 points:

  • DXD July $27/33 bull call spread at $2.50, now $2 – down 20%

    • We can roll the $27 calls to the $25 calls for $5 to widen the spread and drop our b/e from $29.50 to $28.50
  • EDZ July $3/8 bull call spread at $2.10, now $1.60 - down 23%
  • EDZ Apr $10 calls sold for .70, now .15 – up 78% (pair trade)
  • SDS 2011 $36/40 bull call spread at $1.30, now $1 – down 18%

    • We can roll the $36 calls to the $33 calls for $1.10
  • TBT Jan $35/45 bull call spread at $6.30, now $7.40 - up 17%
  • TBT March $50s sold for .65, now $1.22 – down 87% (pair trade)

This is what is great about disaster hedges.  The potential upside on these spreads, if the market headed south was up about 100% on the 4 trades so a commitment of 5% of your virtual portfolio to each one (20%) would give you back 40% of your virtual portfolio in cash if the markets tanked.  Already, after 2 weeks, we have the markets heading in the opposite direction and what is the cost?  Not even 20% of…
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Wintery Wednesday – Are We Now Corrected?

Was that it?

A 10% correction (David Fry chart on right) and we’re done?  If so, this is still a fairly bullish market, and it should be, as our sell-off last year was, beyond a doubt, way overdone.  Often people forget the fundamentals of investing and the biggest fundamental of them all is: "Where else are you going to put your money?"  There many fine companies out there with P/E ratios that are below 15.  That means if you give them a dollar, they will return 6.6% in earnings.  IBM has a PE of 12, which is an 8.3% return on my money and, according to projections, that will improve to 11 next year, generating 9 cents for each dollar I give them

Call me an optimist but I think IBM is a fairly safe place to keep my money.  Perhaps as safe as 4% TBills, or 7% Greek bonds or 3% Yen Notes or, Heaven forbid, a bank!  In fact, not many banks are paying 1.8% on your deposits but IBM does through dividends.  IBM was my example trade in the Weeekend Wrap-Up so I won’t get into strategies here but that is what our whole Buy List is about – picking up great long-term values and hedging them to even more effective entries.  

Not every stock is as rock solid as IBM but (going back to the Wrap-Up) who did we buy when the chips were down last week?  C, CCJ, TBT, GOOG, XLF, AAPL, AMED, CSCO, TM, LOW, AKAM, LLY, NLY, GE, TNA, USO, ABX, DELL, FXI, UYG, BRK/B.  Not exactly a radical collection of picks is it?  Yesterday, with the market up 2.5% from our shopping spree – we bought NOTHING.  Part of the "buy low – sell high" philosophy is waiting for the market to be either high or low.  Two weeks ago, on Jan 29th, I charted 10,058 on the Dow as a critical support line and, from our Buy List Update this weekend, I put up the following chart for Members:

And where did we finish yesterday on the Dow?  10,058.  See, this charting thing is easy – that’s why I don’t usually bother, it’s dullsville!  Let’s now turn our attention to our other major levels of 10,165 and 10,300 which, keep in mind, is nothing more than our predicted "weak bounce" off the drop from 10,700.  As I said in the above chart, we can expect
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Why Amedisys (AMED) will hit $85

Here’s PSW member Tuscadog’s detailed analysis of the company Amedisys (AMED). Tuscadog feels this is one of the few solid opportunities in the stock market, and he suggests a massive short squeeze may be coming due to AMED’s 53% short interest. – Ilene

Amedisys, Inc. provides home health and hospice services to the chronic, co-morbid, and aging American population. Its home health services include skilled nursing and home health aide services; physical, occupational, and speech therapy; and medically oriented social work to eligible individuals who require ongoing care. The company also offers clinically focused programs for chronic conditions and various diseases,… (Yahoo financial, more here.>>)

Why Amedisys (AMED) will hit $85

Courtesy of Tuscadog, member at PSW

Doctor standing outdoors with elderly patient

Feb 23rd may be ‘Judgment Day’ for the AMED short interest.

This is a long posting based on a lot of research and high level interviews I’ve conducted. I’m a private (long term) investor in Amed and I don’t appreciate the way Amed has been ‘jerked around’ by the hedge funds with false rumors and shorting, hence my willingness to share my analysis with small investors. These are my opinions based on my own extensive research, so invest at your own risk. For background on Amed pay particular attention to the 7 articles by Daryl Davis in the ‘Financial Blogs’ section of the Yahoo Finance page for Amed.

UPDATED GUIDANCE WILL BE A NIGHTMARE FOR SHORTS:

Amed will likely release 2009 EPS on Feb 23rd of around $4.90 to $5 and, more importantly, it will give guidance for 2010 based on the status quo on Medicare billing rates for 2010 (i.e. as already issued for 2010 by The Centers for Medicare & Medicaid Services, CMS). Based on the company’s growth rates and CMS’s announced approved rate increase for 2010 (which translates into a 1.8% net increase for 2010 after two flat pricing years) Amed will likely provide 2010 guidance in the $5.60 to $5.70 range.  I believe actual results outcome will likely be higher, in the $5.70 to $5.90 range.

The 15 analysts who cover AMED are likely waiting for Amed’s guidance update and to see if there are any Health-Bill developments. The Suntrust  upgrade Monday to a $70 target is using a pessimistic assumption of a revision to a retroactive 2.5% Medicare billing rate reduction for 2010. Currently, analysts eps forecasts for 2010 include varying degrees of…
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Weekly Wrap-Up, it’s Only a 55-Point Drop You Wimps!

That's right, I said WIMPS! 

I have never heard so much whining and crying and complaining about a market drop as I have the past few weeks.  Last week, I pointed out that we had only fallen 105 points from the prior week (10,172 to 10,067) and this week we fell ALL THE WAY to 10,012 to finish the week and you would think the world was ending (again) from the way the MSM has been acting.

By Friday the panic was palpable as we gave up Monday and Tuesday's bogus gains to test new lows for the year – testing, in fact, the lowest levels the market has hit since last November and I pointed out in Friday's post that it reminded me of when BSC and LEH went under and everyone panicked and sold Financials off to the point where Warren Buffet was willing to give GS $5Bn AFTER they bounced 50% – THAT's how undervalued the financials were in November of 2008. 

Fear and Greed are market driversWhat do we do while people are panicking?  We BUY!  We don't BUYBUYBUY like Cramer's Pavlovian Peons but we sure do BUY and take some nice entry positions with sensible hedges.  I was finally motivated to finish updating our Buy List on Friday and 18 of our 38 positions were highlighted (immediately actionable) on Friday.  Sure they may go lower, but we're buying them with 20% buffers built into the positions and then we can double down if they drop 40% (back to Nov 2008 lows) and then we'll have our entries down 10% from the lowest levels of the past decade or so that we can hold until the next decade – what's there to panic over?

If I wanted to buy IBM in January but thought it was a little pricey at $134, why would I not be HAPPY to have the opportunity to make an enty at $122, back at where they were pre FABULOUS October earnings?  I can buy IBM for $122 and take advantage of the panic-induced VIX at 26 to sell July $125 calls for $6.60 and the July $120 puts for $6.65 for a net entry of $108.75 with a call away at $125 for a $16.25 profit (15%) in 5 months.  If
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Merry Christmas Eve

First of all, what are you doing here?

Why it’s Christmas Eve, Mr. Scrooge – Most global markets are having a half day so, if you are waiting for a Santa Clause rally on a half-day’s trading, you are very likely to be disappointed.

Remember Marley, who cried: "Business!  Mankind was my business. The common welfare was my business; charity, mercy, forbearance, and benevolence were all my business. The dealings of my trade were but a drop of water in the comprehensive ocean of my business!"

Marley was a man who worked and worked until the day he died and regretted it every day after.  If you don’t believe in an afterlife and you don’t believe in leaving behind the World a better place than you found it, at least find some time for yourself so people don’t call you "a squeezing, wrenching, grasping, scraping, clutching, covetous old sinner!" 

Those covetous old sinners in Congress passed the Health Care Bill in the Senate today with a 60-39 vote (Republican Jim Bunning did not vote against the bill but was too chicken to actually vote for it) so we can pretty much count on it moving through the House and on to Obama’s desk in the very near future.  While it’s a total botch-job of a bill, at least America has taken the first civilized strep to recognizing that health care is a right and not a privilege – Tiny Tim would be very proud!

We were told by Fox that Health Care reform would destroy the universe but the market has taken the December passage of the bill very much in stride so maybe we should have just gone for it with Universal Health Care after all…  Oh well, maybe next year!  Meanwhile, we’ll be looking for good investing opportunities once we get a handle on the final bill but I still favor the device space (IHI, MDT, BSX, JNJ, GE, ISRG) as well as big pharma (MRK, PFE), who will be able to serve tens of millions of new customers.  Hospitals (UHS, THC) should also start filling up and we always like our CELG as well as AMGN, who should also benefit from adding a population the size of England to the health care rolls right here in the USA.  I’m waiting for the final bill but home health care providers (AMED,…
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Bullish Bedlam on UnitedHealth in Late-Day Trading

Today’s tickers: UNH, F, EZCH, FBP, XOP, F, BMY, KFT, UNT, TIVO, ADBE & AMED

UNH – UnitedHealth Group, Inc. – Bullish investors stampeded the health and well-being company in late afternoon trading with shares up 3% to a new 52-week high of $32.25. Frenzied call activity on the stock drove option implied volatility up sharply by 19.5% to 45.17% from an intraday low of 37.37%. One investor was ready for the rally today, and banked profits on a previously established call position. The trader likely purchased about 20,000 calls at the now deep in-the-money December 23 strike price for a maximum premium of 3.00 per contract back on October 8, 2009, when UNH shares were at $24.13. Today the trader sold the calls for an average premium of 8.95 each. It looks like the investor took in net profits on the sale of at least 5.95 per contract for a total of $11.9 million. Next, it appears the trader extended bullish sentiment on the stock by establishing a larger call position. A big chunk of 30,000 calls were picked up at the now in-the-money January 31 strike for an average premium of 2.20 each. Thus, the trader breaks even on the new position if shares surpass $33.20 by expiration next month. Other bullish traders initiated call spreads on the stock. One UNH-bull bought 5,000 calls at the in-the-money January 31 strike for about 2.12 apiece, and sold the same number of calls at the higher January 34 strike for 70 cents premium each. The net cost of the spread amounts to 1.42 per contract and yields maximum potential profits of 1.58 apiece if shares rally up to $34.00 by January’s expiration day.

F – Ford Motor Co. – A late afternoon, large-volume put spread on the U.S. automaker is likely the work of an investor locking in gains enjoyed during Ford’s recent share price rally. Shares reached a new 52-week high of $9.64 during the trading session. The option trader looked to the March 2010 contract to purchase 18,000 puts at the March 9.0 strike for 62 cents apiece, spread against the sale of the same number of puts at the lower March 7.0 strike for 16 cents premium each. The net cost of the protective play amounts to 46 cents per contract. If the investor is indeed holding a long position in the underlying, the value of that…
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Phil's Favorites

Companies promoting causes can be accused of 'wokewashing' - allying themselves only for good PR

 

Companies promoting causes can be accused of 'wokewashing' – allying themselves only for good PR

Ben & Jerry’s opened Art for Justice, which highlights the need for criminal justice reform and features art by formerly incarcerated artists. AP Images/Andy Duback

Courtesy of Kim Sheehan, University of Oregon

More consumers want companies to ...



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Zero Hedge

Google Slides After Antitrust Probe Expands Into Search And Android Businesses

Courtesy of ZeroHedge

Google shares are sliding into late session after a CNBC report states 50 attorney generals are expanding their investigation into the technology company's search and Android businesses:

  • 50 ATTORNEYS GENERAL PROBING GOOGLE PREPARING TO EXPAND ANTITRUST PROBE BEYOND CO'S ADVERTISING BUSINESS - CNBC

  • 50 ATTORNEYS GENERAL INVESTIGATING GOOGLE PREPARING TO EXPAND ANTITRUST PROBE TO DIVE MORE DEEPLY INTO CO'S SEARCH & ANDROID BUSINESSES- CNBC

The investigation is being led by Texas Attorn...



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Insider Scoop

What Wall Street Thinks Of Google Cache

Courtesy of Benzinga

Alphabet, Inc. (NASDAQ: GOOG) (NASDAQ: GOOGL) subsidiary Google announced a new partnership with Citigroup Inc (NYSE: C) to launc...



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The Technical Traders

Great Cycles Article PG 9 in TradersWorld Mag - Free

Courtesy of Technical Traders

  1. How to Use Price Cycles and Profit as a Swing Trader
  2. Geodetics and the Affairs of Men – USA, and China
  3. Cosmological Economics
  4. Time Machine
  5. Trading Means Pr...


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Digital Currencies

Is Bitcoin a Macro Asset?

 

Is Bitcoin a Macro Asset?

Courtesy of 

As part of Coindesk’s popup podcast series centered around today’s Invest conference, I answered a few questions for Nolan Bauerly about Bitcoin from a wealth management perspective. I decided in December of 2017 that investing directly into crypto currencies was unnecessary and not a good use of a portfolio’s allocation slots. I remain in this posture today but I am openminded about how this may change in the future.

You can listen to this short exchange below:

...



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Kimble Charting Solutions

Silver Testing This Support For The First Time In 8-Years!

Courtesy of Chris Kimble

Its been a good while since Silver bulls could say that it is testing support. Well, this week that can be said! Will this support test hold? Silver Bulls sure hope so!

This chart looks at Silver Futures over the past 10-years. Silver has spent the majority of the past 8-years inside of the pink shaded falling channel, as it has created lower highs and lower lows.

Silver broke above the top of this falling channel around 90-days ago at (1). It quickly rallied over 15%, before creating a large bearish reversal pattern, around 5-weeks after the bre...



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Chart School

Gold Gann and Cycle Review

Courtesy of Read the Ticker

Gold has performed well, golden skies are here again. In fact it has been a straight line move, and this is typically unusual and a pause can be expected.

It seems the markets are happy again, new highs in the SP500, US 10 year interest rates look to re bound, negative interest may soften. The US FED has reversed their QT and now doing $250BN (not QE) repo. The main point is the FED has stopped QT, and will do QE forever. The evidence now is the FED put is under market risk and the possibility of excessive losses do not exist. 

Point: If in future if there is market risk, the FED will print it's way out of it.
Subject To: In this blog view. The above is so until the amount required rocks confidence in the US dollar as a reserve currency.&n...



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Lee's Free Thinking

Today's Fed POMO TOMO FOMC Alphabet Soup Unspin

Courtesy of Lee Adler

But make no mistake, if the Fed wants money rates to stay down by another quarter, it will need to imagineer even more money.

That’s on top of the $281 billion it has already imagineered into existence since addressing its “one-off” repo market emergency on September 17. This came via  “Temporary” Repo Man Operations money, and $70.6 billion in Permanent Open Market Operations (POMO) money.

By my calculations that averages out to $7.4 billion per business day. That works out to a monthly pace of $155 billion or so.

If they keep this up, it will be more than enough to absorb every penny of new Treasury supply. That supply had caused the system to run out of money in mid September.  This flood of paper had been inundati...



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Biotech

The Big Pharma Takeover of Medical Cannabis

Reminder: We are available to chat with Members, comments are found below each post.

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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