Whole Foods is actually cheaper than most grocery stores in Manhattan. Maybe it's just my neighborhood. Food was already very cheap in the U.S. compared to most other places to begin with. Whole Foods only had 8.8% EBITDA margins, comparable to Amazon's 8.4%. Things could get much tougher for food retailers over the next few years, and consumers stand to benefit.
Goldman Sachs is sticking with equities over credit and credit over treasuries. Global economic and earnings growth has synchronized. There are elevated risks which must be monitored and some dry powder is recommended to take advantage of any market pullback. Read full outlook here.
Interesting paper on IPO market from University of Florida professor Jay R. Ritter available here.
Read full article here.
Full article published on advisorperspectives.com available here.
Nice breakdown on the Dow's ytd performance here.
Interesting article on school spending / quality available here.
Michael Grove, CFA