James Hickman is CIO of HVM Capital, LLC, and a long-time analyst and portfolio manager covering public and private equities and alternative asset class mutual funds. He was the portfolio manager and designer of a multi-alternatives mutual fund that finished in the top 26% of the Morningstar category with less than 5% standard deviation and a Sortino Ratio in excess of 2.00. Investing in pre-revenue startups, Hickman had exits in 60% of investments and materially outperformed broader venture capital indices. He was also a Portfolio Manager at PAR Capital in Boston. Hickman was voted "Best Up and Comer" and later a perennial member of the Institutional Investor All America Research Team in the Major Chemicals Category. Hickman was also recognized as a Wall Street Journal All Star in the Stock Picking and Earnings Accuracy categories.
Hickman is also current President of The Vineyard Golf Club in Edgartown, Mass.
The seizure of Montauk Credit Union may signal an end to risky taxi medallion lending practices, particularly as other lenders continue to experience severe medallion loan stress.
As devastating to taxi medallion cash flows and values as Uber has already been in New York, its market penetration is only accelerating.
Interest rates don't rise meaningfully and sustainably without strong economic growth and inflation, and both are still absent.
Many steps to come before Uber and other gig economy players are compelled to recognize workers as employees and Uber is well situated to weather worst case.
If you think that a significant market decline must be followed by a recession, you haven't been reading your history.
The sudden return of negative volatility has produced some familiar advice. Investors should be wary of counsel from those with whom interests may not be aligned.
Systemic risk is high, warranting portfolio reconfiguration to lower U.S. equities allocations, regardless of the reasonable chance of a near-term recovery.
Investors remain complacent even though history shows a major stock market correction looms. Interest rates should stay low for a while, however, so you have time to adjust your portfolio.
Private investment is making a weak contribution to U.S. economic growth, and this has dire implications for financial market valuations.
Corporations aren't investing enough in their businesses. Instead, they're hoarding cash or returning it to investors in the form of dividends and buybacks.
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