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Disappointing investors Tesla's inability to meet estimates and boost demand for its models has spurrred the newfound skepticism. The comments from Wood came one day after her firm purchased nearly $40 million worth of Tesla shares. A lack of investor understanding of the value of these alternative businesses and their future contribution to Tesla profits is plaguing Tesla shares, according to Corestone Capital's Will McDonough. TSLA 1Y mountain Tesla shares over the last year "Valuing Tesla as a car company is akin to valuing Amazon as a book sale company," the investor said. "There are definitely concerns in the marketplace around demand" for Tesla vehicles, said Robert W. Baird senior research analyst Ben Kallo.
Persons: Tesla, Morgan Stanley, Adam Jonas, Wedbush's Dan Ives, Ives, Michael Sansoterra, Tim Pagliara, EVs, Sansoterra, that's, CNBC's Andrew Ross Sorkin, Cathie Wood, Wood, Brad Gerstner, Elon Musk, Corestone Capital's Will McDonough, Robert W, Baird, Ben Kallo, We're Organizations: Elon, Silvant Capital Management, Wall, Motors, Ford, Toyota, Silvant, Ark Investment Locations: U.S, China
Valuations have swelled, with the Magnificent Seven trading at an average forward price-to-earnings ratio of 33.5, compared with the S&P 500's P/E of 18.3. “Everybody knows these guys are going to make money," said Sameer Samana, senior global market strategist at the Wells Fargo Investment Institute (WFII), referring to the Magnificent Seven. "The reallocation of funds going forward is going to suggest lower returns and more difficulty for the Magnificent Seven to maintain their leadership." The seven companies' combined market capitalization topped 30% of the S&P 500's overall market value earlier this month, according to LSEG Datastream. Some investors are also drawing distinctions among the seven stocks.
Persons: Aly, Tesla, Sameer Samana, Tajinder Dhillon, Tim Pagliara, CapWealth, Pagliara, Elon Musk, LSEG Datastream, Torsten Slok, Patrick Kaser, Kaser, Lewis Krauskopf, Ira Iosebashvili, Jonathan Oatis Organizations: Apple, REUTERS, Microsoft, Nvidia, U.S, Tesla, Wells, Investment Institute, Google, Facebook, Federal, Treasury, , Global, Apollo Global Management, Brandywine Global, Thomson Locations: Shanghai, China, Apple
Stocks powered higher this week after the October inflaton report but the path to year-end gains remains volatile, market analysts say. It won't be a straight-up rally," Nancy Tengler of Laffer Tengler Investments says. People covering short positions and outsized influence of trading algorithms appeared to have helped fuel Thursday's rally, Tengler said in taking a broader view of that day's run higher. Another inflation report is due before the Fed's next meeting. "If there's still work to be done with inflation then rates are still going to go higher.
That means many investors will have to sell assets at a loss, going against one of the most basic investing rules, to buy low and sell high. How tax loss harvesting works Investors who have sold assets at a loss this year from a brokerage account can use that to offset or even completely erase any capital gains taxes owed. If your losses exceed your capital gains or you didn't have any, you can deduct up to $3,000 of income from your federal tax bill. Evercore ISI in a Nov. 6 note made a list of such stocks that it sees as good buying opportunities if you sold a similar name for tax loss harvesting. Because of this, it may make sense to consult both a tax professional and a financial advisor to ensure you're using tax loss harvesting as efficiently as possible.
Typically, the money invested in a Roth IRA or Roth 401(k) is post-tax, meaning you've already paid the taxes on the amount contributed. An extreme example of this is investor and Palantir Technologies founder Peter Thiel, who grew a Roth IRA from $2,000 to about $5 billion in about two decades. Rules of conversion Converting assets to a Roth IRA can get around some of the other limitations on the accounts. Investors should also consider the bill they'll have by converting assets into a Roth IRA now. It also usually only makes sense to do a Roth conversion if you see your tax rate increasing in the future.
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