Lincoln National Corporation (LNC)

72.76
NYSE
Prev Close 72.30
Day Low/High 71.47 / 73.09
52 Wk Low/High 31.95 / 74.63
Exchange NYSE
Shares Outstanding 187.92B
Market Cap 13.59B
P/E Ratio 13.07
Div & Yield N.A. (N.A)

My Takeaways and Observations

Lessons from Byron Wien and Cole Porter.  But Hussman is even more bearish than me! I "defriended" Facebook (FB) again.  I did little trading today as I was focused on my taxes! High of the days with about seventy minutes to go. What's bad is new an...

My Takeaways and Observations

"Wouldn't it be nice if we were older Then we wouldn't have to wait so long And wouldn't it be nice to live together In the kind of world where we belong..." --Beach Boys, "Wouldn't It Be Nice?"  I feel strongly that there is no or a limited safety ...

My Takeaways and Observations

Another strong market day.  The issue of taxes was front and center today. Here are some of my takes: My Take on Corporate Taxes  Man Up, Allergan Shareholders  Who Loses in Pfizer/Allergan Deal's Demise?  I remain manifestly bearish, in the belief ...

A Long List of Short Trades

Stocks I'm shorting today (although I live slightly above the market) include Apple (AAPL), Comcast (CMCSA), Exxon Mobil (XOM), Facebook (FB), Goldman Sachs (GS) (again!), Lincoln National (LNC), MetLife (MET), Morgan Stanley (MS), Nordstrom (JWN), ...

Pressing a Fistful of Shorts

I am pressing my life insurance and energy shorts -- Exxon Mobil (XOM), Schlumberger (SLB), Lincoln National (LNC) and MetLife (MET). I am also shorting more Caterpillar (CAT).

Bond Prices Are Up, So Insurers Are Down

Bonds are on the plus side today, with the iShares 20+ Year Treasury Bond ETF (TLT) reversing one-third of yesterday's slide and 10- and 30-year Treasury yields dropping by about three basis points. As a result, life-insurance stocks -- which tend t...

My Takeaways and Observations

Take this, bulls!  This, too!  I ended the day with my highest net short exposure in more than 12 months. Committed in view, or to be committed? You decide. The U.S. dollar declined in value today. This seems to be a key element of the bulls' argume...

My Takeaways and Observations

Stocks, like Pavlov's dogs, responded positively to the Fed commentary, which was essentially an admission that the Fed's expectations of global economic growth are incorrect.  But I remain bearish.  I appeared on Bloomberg's Market Surveillance thi...

Looking to Go Shorter of Life Insurers, Energy and Media

I mentioned in my Bloomberg Radio interview this morning that my favorite shorts were life insurance, energy stocks and media (cord cutting!). As such I'm currently offering to short Comcast (CMCSA), Exxon Mobil (XOM), Lincoln National (LNC), MetLif...

Why I'm Long Hartford Financial

At last count I had five longs and 21 shorts on my Best Ideas List. One of the few longs is Hartford Financial Services Group (HIG). HIG is trading conspicuously well against its peers, two of which -- Lincoln National (LNC) and MetLife (MET) -- I a...

Lincoln National, MetLife Tank

I've referenced life insurance (one of my most-hated sector) in each of the past few days, and Lincoln National (LNC) and MetLife (MET) are leading the market to the downside today. As a reminder, I'm short on both and have recently increased my sho...

Living the HIG Life

Hartford Financial (HIG) is up again -- albeit modestly -- despite continued declines for its major peers. Prudential (PRU) was down $0.95 a share at last check, while MetLife (MET) was off $0.50 and Lincoln National (LNC) had shed $0.50. I've alway...

The Market's Big on HIG

Hartford Financial (HIG) is conspicuously strong today, but there's no unusual options activity. As a reminder, I'm long HIG in the life-insurance space, but short on Lincoln National (LNC) and MetLife (MET). LNC and MET are also on my "Best Short I...

My Current 'Best Ideas' List

With the changes made over the last week or so, I'm now down to only five longs on my "Best Ideas" list vs. 21 at the peak. I'm also up to 21 shorts (a new peak). My current "Best Long Ideas": DuPont (DD), Hartford Financial (HIG), Macy's (M), Oaktr...

Today's Takeaways and Observations (Early Edition)

I started the day with a cautionary tale (click here and here), then made Apple (AAPL) my Short Trade of a Week. I also made a hard decision to take all nine banks off of my "Best Long Ideas" list and sell off some of my bank holdings. My takeaways ...

My Takeaways and Observations

My closing message to subscribers: The market's love affair with the Fed is a weakening embrace and the potency of response is diminishing. But a few steps back! My opening missive, "The U.S. Economy's Outlook is Darkening," seemed to be confirmed (...

My Takeaways and Observations

I outlined my negative market outlook in this morning's opening missive, "Forget the 'Church of What's Happening Now.'" This summary detailed the fundamental, technical and sentiment headwinds that I see.  A challenge to Jim "El Capitan" Cramer on C...

My Takeaways and Observations

I remain "all in short," positioned on Friday afternoon.   My message for the day this morning? "Don't worship at the church of what's happening now."  The key insight today was the flight to safety. More risk off might lie ahead. Thanks for the nic...

Today's Takeaways and Observations (Early Edition)

Today's Takeaways and Observations (Early Edition) It's been another win for the bulls so far in the session, with the SPDR S&P 500 ETF (SPY) higher at last check after being down 85 cents earlier today. I started the day underscoring the "Top 10 Re...

Today's Trades

I've done of a lot of trading today. To recap, I've: Reduced my bank longs across the board. Sold off my biotech basket. Added small to my shorts of Amazon (AMZN) at $574, Apple (AAPL) at $100, "B" shares of Berkshire Hathaway (BRK.A, BRK.B) at $136...

My Takeaways and Observations

If I had to guess, today's sharp rally was a function of monthly inflows, technical breakouts and programs. But it is only a guess. However, you will watch in the business media all the talking heads who liked yesterday's market and purchased opport...

Short Update on Action in Shorts

I am offering the following shorts slightly above last sale: Starbucks (SBUX), Amazon (AMZN), Comcast (CMCSA), MetLife (MET), Lincoln National (LNC), Netflix (NFLX), iShares China Large-Cap (FXI), Ford (F), General Motors (GM) and Apple (AAPL).

Buying Allstate and Hartford Financial

I added to two lagging financials today: Allstate (ALL) and Hartford Financial (HIG). However, any further strength in life insurance will lead me to reshort Lincoln National (LNC) and MetLife (MET).

My Takeaways and Observations

At 3:00 p.m. ET stocks were at the low of the day and S&P futures were more than 20 handles below pre-market trading highs, where I shorted. I started the day with an opening missive, "Donald Trump and the U.S. Stock Market," in which I outlined the...

My Takeaways and Observations

Mr. Market has provided outstanding opportunities year to date. I am happy with the way I have been trading the market, taking advantage of the market without memory from day to day and staying with my game plan in an unemotional way. The banks -- e...

My Outlook for the Market's Major Sectors (Part 1)

"Yellen is wrong -- and she has a lot of company. It is an amazing reality that, among economists, the faith in the possibility of endless expansions has survived the 2008-2009 financial crisis and the Great Recession. What history teaches is disqui...

My Takeaways and Observations

This might be the most hated market rally in months.  As I have been commenting, we got deeply oversold, support held and machines/algos did the rest! The typical correlation between SPDR S&P 500 ETF (SPY) and the inverse iShares 20+ Year Treasury B...

Today's Takeaways and Observations

Chuck (Judge Smails) thoroughly embarrassed me into making a day's end post, noting that when I was younger I had the energy to still complete Takeaways. He went on to write that my current age is slowing me down. I know (hope!) you were kidding and...

My Latest Moves

I'm making an important portfolio change this morning, buying a delta-equivalent of call positions against my life-insurance and auto shorts to neutralize the balance of those holdings. I put General Motors (GM) on my "Best Short Ideas" list on Dec....

Today's Takeaways and Observations

There was something for everyone (bulls and bears) today. Volatility cubed! My early perspective was outlined in "Drilling Teeth Without Novacain."  I bought the test and premarket weakness unemotionally as promised and expanded my net long exposure...