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Don’t be a sheep.
We at Financial Poise relish not following “the crowd.” We think the ability to think outside the box and to go against the grain is what separates those who fly first class from those who own their own jet. We also subscribe to the school of thought that a lot of luck and other factors go into whether one becomes uber-wealthy, and so we also believe that having lots of money is not necessarily indicative of having lots of intelligence, commonsense, or reasonableness. On the other hand…
Larry Fink said it, so it must be true.
On the other hand, we certainly think that those who have made a lot of money in business are often qualified to speak to money and business. Regular readers, for example, may recall we frequently cite the wisdom of Ray Dalio, Warren Buffet, Mark Cuban, Bill Gates, and Elon Musk. BlackRock CEO, Larry Fink, certainly enjoys the same general level (everything’s relative, of course, and we acknowledge that at $1 billion, Fink’s net worth is poultry compared to that of the others named here).
So, what did Fink say, already?
We’re referring to these two soundbites from his 2022 annual letter to the CEOs and Chairs of the companies BlackRock Clients are invested in: (a) “We focus on sustainability not because we’re environmentalists, but because we are capitalists and fiduciaries to our clients;” and (b) “The next 1,000 unicorns won’t be search engines or social media companies, they’ll be sustainable, scalable innovators – startups that help the world decarbonize and make the energy transition affordable for all consumers.” (To fully appreciate the 2022 letter, by the way, one should really also read Fink’s 2020 letter). If you are an individual investor in the market, in the immortal words of Brad Hamilton, “learn it, know it, live it.”
Our sister publication DISTRESSED DEAL DATA™ expanded its scope of coverage beginning on January 15th to institute a new category of coverage, titled Upside Alpha Opportunity™. With this coverage, DailyDAC is now making “buy” and “sell” recommendations on select equity securities whose price movements are driven by news of exigent, or even existential circumstances. Our first such recommendation was Lipocine Inc. (ticker: LPCN). LPCN is a clinical-stage biopharmaceutical company focused on metabolic and endocrine disorders, that seeks to improve compliance, absorption, and other objectives with proprietary drug delivery technology.
On January 14th, as we reported on January 15th, LPCN “had received written notice from the staff of the Listing Qualifications Department of the Nasdaq Stock Market indicating Lipocine is no longer in compliance with Nasdaq Listing Rule 5605, which requires a majority independent board, audit committee, and compensation committee.” LPCN closed at $1 that day. It closed at $1.07 on February 11th and yesterday at $1.24. Not bad.
Our newest recommendation concerns Johnson & Johnson (ticker: JNJ) but to know what our recommendation is, you’ll have to subscribe.
“There’s two buttons I never like to hit: that’s panic and snooze.”
A number of subscribers have emailed asking if we have stopped offering a free weekly webinar. The answer is that we have suspended doing so, as we consider the ROI in doing so. We’ve always been very transparent about our business model and specifically about the fact that our free webinar giveaways were never altruistic. Rather, we give them away to spur webinar sales and it appears that we sell more webinars during weeks in which give none away. Go figure… In the meantime, please do check out our most excellent webinars (if you are a business owner or executive, or investor) or here if you are an attorney or accountant. We sell tens of thousands of webinars every year. Try one today!
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