John Durkin

John is former Head of Operations for Equity Research at Baird Kailash and Knight Capital Group. He has been running the day-to-day operations at L2 Asset Management since 2014 and is currently head of Operations. He is also an integral part of the Equity Research team. John received his BA from Stonehill College and has passed his CFA level I. He has an overall experience of 13 years in the industry.

September 25, 2022

Home/John Durkin

Safe Dividend Stocks: A Staples Update & A Brand New Bag

September 16, 2022|

KCR’s systematic, evidence-based analytical and investment process is driven by the historical record. Our financial faith resides in what the data shows. Human beings have made the same mistakes in slightly different forms again and again for centuries. Stick to a low-cost, tax efficient process and winning is inevitable.

Equity Positioning, Sentiment, and the Disposition Effect

September 9, 2022|

KCR’s work leans heavily on sentiment for good reason. The presence of our in-house academic and co-founder does not mean we are advocates of efficient markets. Much of the research in behavioral finance that our systematic approach to fundamental research leans on is dedicated to finding undue pessimism and optimism. These are often a critical ingredient in generating outsized returns.

Nabors Investor Relations Has a Terrific Story to Tell

August 26, 2022|

Profiting from the Reckoning with Reality - KCR readers know we have been long-term bulls on energy stocks and have relentlessly panned the high-priced promises of so-called clean-tech energy stocks. While others read the IEAs’ path to net-zero emissions and forecasted the end of oil, we read the work and wrote our piece, Net Zero Emissions: The Possible vs. the Plausible, which explained how their research read, to us, like a powerful bull case for energy.

A Tight Labor Market Returns the Upper Hand to American Workers

August 19, 2022|

A Tight Labor Market Returns the Upper Hand to American Workers - The always wonderful John Authers put out a recent piece on inflation. Discussing comments out of the UK, he observed, “I cannot remember a central bank of a large, industrialized country being this negative about its own economy.”

A Lucid Stock Discussion on an Amazing Car Company

August 5, 2022|

The High Price of Cool Stuff: An Update on Stocks Valued Over 10x P/S. Lucid Motors Logo: A Symbol of the Future? It’s been a hot stretch of summer for the KCR equity research team. We have, at times, been accused of writing dry and dense material with an intermittently academic tone. Not today. First Friday in August. Let’s talk cars.

Economic Cycles and Mean Reversion

July 22, 2022|

In 1999, Warren Buffett gave a rare explanation of why he felt the stock market would generate poor returns for investors over the long haul. He used simple arithmetic to show that elevated valuations and profit margins made equities vulnerable. The piece was 9 pages, over 4,000 words long, and had a single exhibit.

Mean Reversion, Market Prices & Common Sense

July 8, 2022|

Mean Reversion Made Simple - This paper provides simple context to what are often difficult and highly emotional decisions around money. KCR spent much of 2020 and 2021 producing evidence that the valuations of popular fast growth stocks would lead to their demise. Since the peak in 2021, stock speculation has gone from popular to perilous.

Large Cap Core Funds: Growth Funds in Hiding?

July 1, 2022|

US Large Cap Core Funds: Historical Weights at Various Levels of Valuations - To summarize, historically, investors in large cap core index funds had the bulk of their money invested in stocks with reasonable valuations with negligible exposure to stocks valued over 10x price to sales.

Go to Top