Blue Point News

Cash Flows Rules Causing Misleading Valuations of Tech Firms? Some Want FASB to Study

January 17, 2024 | By By Denise Lugo | Thomson Reuters Checkpoint Edge | FASB News
"Just like shell games, investors are investing in something that is not there," Niall O'Malley, managing director, portfolio manager at Blue Point Investment Management, said on January 12, 2024. "Emerging and high-growth software companies often generate minimal returns on their income statement as they seek to gain market share. Investors rely on their cash flow from operations and free cash flow to value.

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Overstated Cash Flows and Ownership Shrinkage

January 14, 2024 | By Niall O'Malley | Baltimore Business Review
How employees are paid at publicly traded U.S. technology companies has changed dramatically over the past 30 years, but the accounting rules associated with paying employees with stock rather than cash have not kept up with those changes.

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2024 Baltimore Business Review  

January 12, 2024 | By Towson University and CFA Society Baltimore | Baltimore Business Review
The 2023 Baltimore Business Review: A Maryland Journal.  A joint collaboration between the CFA Society Baltimore and the College of Business and Economics at Towson University. The publication is now in its 15th year.

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2023 Baltimore Business Review

February 20, 2023 | By Towson University and CFA Society Baltimore | Baltimore Business Review
The 2023 Baltimore Business Review: A Maryland Journal.  A joint collaboration between the CFA Society Baltimore and the College of Business and Economics at Towson University. The publication is now in its 14th year.

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Re-decoupling of the U.S. market and economy?

February 8, 2022 | By Feng Yuquig | Financial Times China
Although most of the indicators point to a healthy economy, if it is not very strong, people begin to question the state of the economy. When the Fed raises interest rates rapidly, it will easily lead to market volatility.

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2022 Baltimore Business Review

January 22, 2022 | By Towson University and CFA Society Baltimore | Baltimore Business Review
The 2022 Baltimore Business Review: A Maryland Journal.  A joint collaboration between the CFA Society Baltimore and the College of Business and Economics at Towson University. The publication is now in its 13th year. 

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When Does A Good Investment Become a Bad Investment?

February 21, 2020 | By Niall O'Malley | Baltimore Business Review
A good investment becomes a bad investment when it becomes evident to the buyer that they overpaid. This concept applies not only to individual investors, but also in the case of share buybacks, when a company overpays for shares. Typically, share buybacks are used by a company to return earnings to shareholders.

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When to Sell? How Should You Protect Yourself from the Risk of Falling Values?

January 10, 2019 | By Niall O'Malley | Baltimore Business Review
These are two of the most important questions in my conversations with investors as I write this article in September 2018. The U.S. equity markets have posted positive returns in each of the past nine calendar years. This is only the second time over the past century that equities have posted gains for nine consecutive years.

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June 6 Radio Interview Podcast

July 11, 2018 | By Radio Interview | Money, Riches & Wealth
On June 6, from 6 to 7 pm, Money, Riches & Wealth welcomed Blue Point Portfolio Manager Niall O'Malley. They discussed where to invest in this turbulent year of 2018.

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Alum & International Investment Adviser Niall H. O’Malley Shares Why "A Global Perspective Is Key"

March 22, 2018 | By Madeline Hahn | IES Abroad
Meet Niall H. O’Malley (IES Abroad Vienna | 1989-90), Founder and Portfolio Manager of Blue Point Investment Management, LLC, and our March Alum of the Month. Before embarking on his year abroad in Vienna, Niall never expected to witness the history that was about to unfold - from the fall of the Berlin Wall to the Velvet Revolution in Czechoslovakia to the Romanian Revolution. His experience inside the classroom was also transformational.

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Why are Technology Companies So Difficult to Invest In?

January 10, 2018 | By Niall O'Malley | Baltimore Business Review
Technology companies are one of the most challenging industry sectors of the economy in which to invest. The risk of failure is above average. New technologies require huge amounts of capital investment before they realize their revenue potential, so the investor bears the cost of building before customers come. Further, valuations are enormous, and the profits are often nowhere to be found. The challenge is identifying the public companies that will offer innovations that will gain acceptance, be perceived as value-added products or services, or even become essential to daily life.

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Baltimore Business Review

January 10, 2018 | By Niall O'Malley | Baltimore Business Review
This piece was produced jointly by the CFA Society Baltimore and the Towson University College of Business and Economics. It was co-edited by Niall O'Malley, who serves as program committee and board member for CFA Society Baltimore. O'Malley also wrote "Why are Technology Companies So Difficult to Invest In?" starting on page 12.

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30 years since Black Monday, local money managers say they're ready if it happens again

October 17, 2017 | By Holden Wilen | Baltimore Business Journal
Randy McMenamin went into work on Oct. 19, 1987, ready to buy stocks. By the end of the day, he was telling himself, "Holy you know what." Thirty years later, Black Monday still remains the biggest single-day stock market collapse.

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How Baltimore’s Natural Advantages and Infrastructure Can Lead to Economic Growth

January 11, 2017 | By Niall O'Malley | Baltimore Business Review
In recent history, Baltimore has been challenged by a lack of economic opportunity, but that need not be the case moving forward. One of the most effective ways to enhance economic opportunity is to understand the region’s natural resources and then invest in these natural advantages.

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Baltimore Company Stocks Are Mixed Amid Market Turmoil in January

January 29, 2016 | By Carrie Wells | Baltimore Sun
U.S. stock markets swooned in the new year amid fears that an economic slowdown in China would spill over into domestic recession and as oil prices plummeted. Yet for some of the Baltimore region's largest public companies.

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Is Short-Selling the Tail Wagging the Dog?

January 7, 2016 | By Niall O’Malley | Baltimore Business Review
Sometimes a simple question does not have a simple answer. To understand the role of short selling, one has to step back and try to understand how short selling impacts price discovery in equity markets. We are familiar with the terminology short squeeze.

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Limitations and Consequences of ETFs

January 5, 2015 | By Niall O’Malley | Baltimore Business Review
Before delving into the limitations and unintended consequences of Exchange Traded Funds (ETFs), it is important to define an ETF. Where did these investment vehicles originate? How significant are ETFs to investors? The first Exchange Traded Fund was launched in January 1993.

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Reversal of Fortune

January 7, 2014 | By Niall O’Malley | Baltimore Business Review
As an investment manager, I seek investments with sustainable growth. I have the freedom to look anywhere in the world. Quietly, the U.S. has developed a competitive advantage in energy costs that is rewriting the history books.

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Preparing for 'the Big One'

July 9, 2013 | By Rob Daly | Trade News
Having lurched from flash crash to hash crash over the last three years, is the US equities market structure sound enough for the coming correction?  When Belfast locals discuss the city's relationship with the doomed RMS Titanic, they often joke: "She was fine when she left here."

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Warren Buffett's Annual Meeting 2013

May 9, 2013 | By Niall O’Malley | CityBizList
There is no known parallel to Warren Buffett's Annual Meeting. What would possess 35,000 people to travel from around the world for the meeting?

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Baltimore-Area Stocks Rebound

April 16, 2013 | By Gary Haber | Baltimore Business Journal
The stock market rebounded Tuesday after Monday's sharp sell-off following the fatal bomb blasts at the Boston Marathon. The three major indexes - the Dow Jones Industrial Average, NASDAQ and Standard & Poor's 500 - all climbed higher Tuesday as did major Baltimore-area stocks.

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SEC Weighs Bigger Stock-Price Increments 12 Years After Pennies

February 4, 2013 | By Nina Mehta | Bloomberg
Twelve years after the U.S. switched to 1-cent increments for stock trading to save investors money, regulators and broker-dealers are considering a test of larger tick sizes. A pilot study of bigger quoting increments to improve liquidity in less-active stocks will be debated by executives from exchanges and brokers, and market makers.

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With New Buyer, Sparrows Point Faces a Possible End to Decades of Steelmaking

August 10, 2012 | By Jamie Hopkins | Baltimore Sun
Steel from Sparrows Point built the Golden Gate Bridge, the Chesapeake Bay Bridge, hundreds of ships for World War II and livelihoods for tens of thousands of Baltimore-area families. The story of the massive steel mill follows the arc of American manufacturing.

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Takeaways from Blue Point Investment PM Niall O'Malley's Pilgrimage to Warren Buffett's Annual Meeting

May 9, 2012 | By Niall O’Malley | CityBizList
This article originally appeared in CITYBIZLIST on May 9, 2012 The turmoil in the financial markets during the past four years has galvanized the need for a balanced approach in uncertain times.

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Rust Belt Rising - Maryland's Manufacturers Are Rising

January 3, 2012 | By Niall O’Malley | Baltimore Business Review
U.S. and Maryland manufacturing have receded for the past 40 years as cheaper emerging market manufacturing resulted in the wholesale relocation to the emerging markets. Outsourcing has been a persistent buzzword. There is growing evidence that manufacturing in the U.S. and Maryland is on the rise.

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Baltimore's Star Stock Pickers Say Bigger is Better These Days

January 14, 2011 | By Gary Haber | Baltimore Business Journal
As the economy starts clawing itself out from the crater dug by the Great Recession, a portfolio manager at T. Rowe Price thinks the nation's biggest companies are in the best position to take advantage of the turnaround.

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What an Emerging Opportunity Means for Maryland Companies

January 5, 2011 | By Niall O’Malley | Baltimore Business Review
As income levels grow, emerging market consumers become a more important force in creating an opportunity for Maryland based companies. To understand the recent changes in the consumer market it is helpful to step back and look at the recent role of the emerging markets.

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Lehman Bros.' Fall Still Dogging Some of Baltimore's Largest Stocks

September 20, 2010 | By Gary Haber | Baltimore Business Journal
Greater Baltimore stocks took a beating in the market's near collapse two years ago - and some have yet to recover. The region's 10 biggest publicly traded companies lost a combined $2.7 billion in market value since Lehman Brothers' bankruptcy filing on Sept. 15, 2008.

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Baltimore Stocks Go High and Low as Market Rebounds

April 23, 2010 | By Scott Dance | Baltimore Business Journal
The Dow Jones Industrial Average closed above 11,000 for the first time in more than a year and a half April 12 — marking a return to a height not seen since a tumultuous September 2008 that shook Baltimore and Wall Street. But can the same be said for local stocks?

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Right on the Money

April 9, 2010 | By Heather Harlan Warnack | Baltimore Business Journal
This is an interview with the Portfolio Manager, Niall O'Malley which was originally published in the Baltimore Business Journal. "Niall O'Malley has impeccable timing.  The businessman began seeing the cracks in the American economic system three years ago and decided to leave his job as vice-president..."

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How is China's Growth Creating Opportunities in Maryland

January 5, 2010 | By Niall O’Malley | Baltimore Business Review
There are many ways to look at investments. As a portfolio manager, I use growth at a reasonable price (GARP) as a framework to shape my observations.

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Market-to-Market Commentary Submitted to the SEC

December 8, 2008 | By Niall O’Malley | SEC Comment Letter
Synchronized global deleveraging and cash hoarding are creating overstated capital shortages as fair value increasingly deviates from intrinsic value. 

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