Prices are continuously moulded by fears, hopes, and unreliable estimates, capital is always at risk unless you buy better than average values.
– Irving Kahn

Featured article

Checklist for Evaluating Spinoffs
The following is a list… based on Joel Greenblatt’s book You Can Be A Stock Market Genius, Even if you’re not too smart!

Companies

Whistl: about 2,000 jobs at risk as postal group suspends deliveries
… after the collapse of private equity funding caused Whistl to suspend deliveries… It will revert to collecting and sorting mail to be fed into the Royal Mail system for final delivery.

Fitbit files for $100 million IPO, on pace to earn over $1 billion in 2015
– Q1: $336 million revenue, $48 million net income
– 10.4 million units sold in 2014
– 9.5 million active users in Q1 2015
The company is profitable and growing, but faces competition from traditional rivals like Jawbone, as well as new entrants like Apple. There’s place for both trackers and smart watches in the market, and Jawbone isn’t doing itself any favours with product delays. One to watch. As always, depends on the price.

Google: next step distributing its mega free cash flow?
So many commentators are incorrectly assuming that the growth trends in our sites, clicks, and CPCs (cost-per-click) are primarily due to difficulties monetizing search on Mobile, but that’s in fact not the case…Excluding the impact of YouTube TrueView ads, growth in site clicks would be lower, but still positive, and our CPCs would be healthy and growing year-over-year.

Whole Foods Aims for Younger Shoppers With New Stores
At least they split the low-cost offering out of their existing brand.
Grocery chain gears up chain of small-scale stores offering lower prices than its namesake outlets.

Markets

The Billionaire Banker Ready To Bet On Oil
Andrew Beal, 62, is one commercial banker investors should pay attention to. With a self-made fortune estimated at $12 billion, he is the Warren Buffett of the banking business.

The Information Age Is Over. Welcome to the Infrastructure Age.
…the future of consumer tech isn’t going to come from information devices. It’s going to come from infrastructure.

4-state Southeast high-speed rail compact being discussed
The nation’s top transportation official says he’s more optimistic that high-speed rail will eventually become a reality in the Southeast after Georgia and South Carolina expressed interest in a joint agreement between North Carolina and Virginia to study, coordinate and advocate for the project.

Related

A Beautiful Vision Of An American High-Speed Rail Map
Imagine if the entire country was linked by 220-mile-per-hour trains. That’s what this map does.

The mystery of Germany’s crazy bonds
Germany’s borrowing costs have shot up from nothing to slightly more than that in violent fashion, and it’s either a sign that Europe’s economy is finally beginning to recover or that the European Central Bank’s efforts to do so are coming up short. It’s not clear which.

Investing

Checklist for Evaluating Spinoffs
The following is a list… based on Joel Greenblatt’s book You Can Be A Stock Market Genius, Even if you’re not too smart!

Should Long-Term Investors Mind the Macro?
The amount of mental effort the financial community puts into this constant attempt to guess the economic future from a random and probably incomplete series of facts make one wonder what might have been accomplished if only a fraction of such mental effort had been applied to something with a better chance of proving useful.

Oil prices have been soaring—now look for them to plunge again
After falling roughly 60% from July through March, oil prices are now up around 44% from their bottom.

Long reads

Birdman: The Pigeon King and the Ponzi Scheme that Shook Canada
It was December 2013, and Galbraith was being tried in Ontario Superior Court in Kitchener for engineering what a prosecutor described as “one of the biggest frauds in our history.

How to Haul 182 Million iPads
A single voyage could supply the world with tablets for almost three years.

The Surprisingly Complex Design of the Ziploc Bag
You don’t know how to properly seal a resealable bag. It’s not your fault. Pretty much everyone screws it up.

Graph of the week

Source: @michaelbatnick
Source: @michaelbatnick
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