Lincoln National Corporation (LNC)

Prev Close 52.71
Day Low/High 51.03 / 53.88
52 Wk Low/High 50.55 / 77.57
Exchange NYSE
Shares Outstanding 171.95B
Market Cap 9.06B
P/E Ratio 13.07
Div & Yield N.A. (N.A)

Takeaways and Observations

  Fear and doubt seem to have abandoned Wall Street.  Dr. Hussman, while very much perma-bear, makes some good points in his weekly market commentary. See boldface.  As does my pal Sir Mark Grant on CNBC's Squawk Box.  I have reduced my large SPRD G...

Offering More Metlife, Lincoln National on Short Side

For the reasons mentioned in my column on financials -- I am offering more Metlife  and Lincoln National  on the short side.   The stocks look like they might be rolling over now.   At the same time I am adding to my Hartford Financial  long.

Considering the Contrary (Part Deux)

The financials/banks are leaders to the downside today. Goldman Sachs  (down $5) and JPMorgan Chase  (down $1.50) -- two most often admired stocks -- are particularly weak. (Note: Near yearend I placed GS on my Best Ideas List at $242. Now it's unde...

I Have Embraced the Contrary, and I Am Short Financials

My primary short focus (on individual stocks) is in the financial sector: banks, brokerages and life insurance (though I am long Hartford Financial  ).   I am postured this way based on a several contrary views:   Regulatory changes may be slow in i...

Auction Action

After yesterday's soft five-year note auction, the seven-year note auction was a mixed bag, but two of the three components that markets focus on were slightly better. The yield of 2.335% was a touch below the when-issued yield of 2.337%, but the bi...

Favoring the Short Side in a Bigger Way

With interest rates rising over the last few days, banks and other financials shares have been quite weak after earnings reports. From financial bulls we hear very little about this changing correlation. Citigroup short is my Trade of the Week and i...

Adding Another Layer of Shorts

I just added another layer of shorts: Apple , Lincoln National , Metlife and Caterpillar .

The Good, the Bad and the Ugly in Today's Trading (Early Afternoon Edition)

"You see, in this world there's two kinds of people, my friend: Those with loaded guns and those who dig. You dig." -- Blondie, " The Good, the Bad and the Ugly" Here's a quick review of today's market action at 2 pm: The Good Bonds and bond-equival...

Building Up on the Short Side in Financials

I now have a relatively large short position in financials when one includes my life insurance shorts MetLife and Lincoln National , which recently were added to my Best Ideas List as shorts.

My Takeaways and Observations

I have a series of meetings this afternoon and tomorrow morning so I want to get "Takeaways" out early today. I started with what I think is an important opening missive, "Wary in an Uncertain World" in which I covered a number of bases. I truly bel...

XLF Short -- Got It Covered

i have covered my small Financial Select Sector Fund short, as I have other fish to fry. Sticking with my small Bank of America , Citigroup Goldman Sachs and JPMorgan shorts and my medium-sized Lincoln National and MetLife shorts.

I Have No Life

I pounded away -- on the short side -- in the life insurers (on the early strength in MetLife and Lincoln National ) this morning.

Bond Interest Rates Declining, Yield Curve Flattening

The yield on the 10-year note and long bond are down by about 4 basis points. The 10-year yield is at 2.37% and the 30-year yield is now under 3% (at 2.97%). There is some flattening in the yield curve. I expect these factors (lower yields and flatt...

Reviewing My Investment Troops

Allergan (updated earlier ) up by another six beaners (that's up $6 to those that understand my slang) to over $221.80. This favorite large-cap stock for 2017 was put on my Best Ideas List (only recently) in late December at $194. Some normal profit...

Short Post on My Shorting Intentions

In accordance with my interest rate expectations (see prior post), I am offering more Financial Select Sector SPDR ETF , Lincoln National and MetLife shorts. The latter two names were recent additions to my Best Ideas List.

My Takeaways and Observations (3:30 p.m. Edition)

The markets started the day like Usain Bolt at the start of a 100-meter race. But, unlike Bolt, the finish wasn't as strong as the start.   I thought one of the day's features was the reversal in bond yields, particularly after the good data.    The...

Adding Incrementally to Some Shorts

I have added incrementally to the following shorts: Starbucks  , Disney  , Metlife  , Caterpillar  and Lincoln National  .

My Takeaways and Observations

"Who you tryin' to get crazy with, 'ese? Don't you know I'm loco?..." -- Cypress Hill, Insane in the Brain 2017 will be the year of "The Dude."    My favorite large-cap long Allergan  and short Caterpillar   for next year.  AGN closed up by $4(!) wh...

A Tight Consensus Is Often a Red Flag

Nowhere is the bullish consensus as ubiquitous as in the financial space and in bonds -- that is, being long bonds and short fixed income.   As an example, over the weekend there were eight references to over-weighting banks in Barron's.   I current...

Today's Trades

Longs: I added to JC Penney  at $9.36. Shorts: I added to Lincoln National  , Metlife  and International Business Machines  shorts.

My Takeaways and Observations

"Everyone here likes the bounce." -- President-elect Donald Trump (said in a meeting today at Trump Tower with tech executives) A good day for the ursine crowd but not so good for the bullish cabal as they had a bad day -- for a change. (Yes, I am w...

Today's Trades

I shorted International Business Machines , Lincoln National  and Metlife .   I initiated ProShares Short QQQ ETF  (QQQ inverse) at $46.56. I pressed Direxion Daily Small Cap Bear 3X Shares  long ("Trade of the Week").

Did I Mention Something About China ... and Life Insurers, Too?

On cue, China says it plans to slap a penalty on an unidentified U.S. auto manufacturer for monopolistic behavior.  And Morgan Stanley downgrades the life insurance space. Now that's timing! (see my posts below) Ford , General Motors , MetLife and L...

MetLife, Lincoln National Return as 'Best Ideas' Shorts

As we enter the new year, my expectations for both interest rates (lower) and the stock market (also, lower) prospects are different than the consensus. According to Bank of America, only 6% of economists are looking for lower interest rates in 2017...

A Shopping List

While I see many stocks with attractive reward vs. risk, they reside mostly on the short side.   Some stocks I plan to short on any strength include: Citigroup  , Bank of America  , JP Morgan Chase  , Caterpillar  , Metlife  , Lincoln National  , Fo...

Housekeeping Items

I have covered tag ends of my Metlife , Lincoln National , Fastenal and Netflix shorts -- and have taken these names off of my Best Ideas List. Cleaning up small positions.

Looking for Shorts (In All the Right Places)

In looking for shorts there is one important and underlying factor that governs my selection process: I try through rigorous analysis to identify sectors and companies with intermediate-term prospects that are deteriorating relative to consensus exp...

My Takeaways and Observations

Donald Trump may make illiquidity, volatility and uncertainty great again.    More "Penneys" from heaven, an analysis of the company's quarterly release.    Trade of the Week -- short Apple . Here and here.    I sold my retail long rentals for sick ...

My Takeaways and Observations

"Dougie, take what Mr. Market gives you." -- Grandma Koufax And I did, Grandma Koufax.   A consecutive nine-day market drop was snapped as we regained most that was lost in that period.   Today was a great day. (Boy, would I like to annualize the pe...