Loading…
Loading…
Fortune recently published an article about Berkshire Hathaway's (NYSE:BRK.B) net worth is $663 billion, 10 times higher than Nvidia's (NASDAQ:NVDA) and nearly 12 times Apple's (NASDAQ:AAPL).
On Monday, First Manhattan started off the week with the launch of the FM Compounders Equity ETF (FMCE). FMCE is an actively managed fund with a net expense ratio of 0.70%.
FMCX is a large-cap blend fund with a 0.70% expense ratio and $97 million in assets. Selecting only 25-30 U.S. stocks, FMCX is a portfolio of First Manhattan's highest-conviction ideas. The fund's portfolio manager is an industry veteran with over 27 years of experience as a value-oriented investor. However, FMCX's 25.85x forward P/E suggests otherwise. I found other inconsistencies when evaluating FMCX's trailing price-cash flow and trailing price-sales ratios, which wrapped into a value score that ranks just #205/251 in its category.
The U.S. ETF industry saw 22 new ETFs debut last week, which was the best one for launches across multiple months. The issuers launching funds include Capital Group, Direxion, First Trust, Invesco, NEOS, Neuberger Berman, newcomer Nightview Capital, PGIM, Strive, TCW and YieldMax.
Oracle (ORCL) provided downbeat revenue guidance, citing strong competition in the cloud-computing industry. However, it beat earnings estimates.
Active ETFs have gained in popularity in recent years. However, some pundits have prematurely taken out their shovels for some funds.
Full call transcripts — prepared remarks + analyst Q&A — with speaker-by-speaker formatting and one-click switching across every quarter on file.
Click below to see what's inside, then upgrade to read every transcript for FMCX and 80,000+ other tickers.
Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.