Tag: Finance

Most investors have had a rough time in the turbulent 2022 stock market (SPY). Now more than ever they need a reliable way to identify winning stocks regardless of the current market conditions. The key to success is to take the guess work out of investing by having the computers do the heavy lifting for you. First, by narrowing down to the healthiest fundamental stocks using the POWR Ratings system. Next, applying leading edge technical analysis to find the timeliest of those stocks ready to break higher now. That’s what I discuss in more detail in the article below. Read on for more….

So many traders and investors are always looking to get rich quick without any effort. Most never find it. They simply shuttle from one guaranteed get rich quick scheme to the next in the eternal quest for gold.

Ultimately, they always end up with fool’s gold…

Let me be the first to burst the bubble and tell you that the ‘Fountain of Youth’ doesn’t exist. You can’t lose weight without diet and exercise. Making money requires hard work.

Luckily, however, there are ways to have someone else do most of the heavy lifting for you. Two of the best ways I found are the StockNews POWR Ratings and Market Club’s Trade Triangles.

Using these two together pairs the fundamental strength of the POWR Ratings with the technical prowess of the Trade Triangles leading to serious outperformance.

Then I add in my 30 plus years of trading experience to uncover highly rated quality stocks that are on the brink of a breakout.

Combining all these into one trading program results in the POWR Breakouts Portfolio I manage.

A brief description of each of the components is shown below. I use each of these in my daily trading decisions for the POWR Breakouts Portfolio.

The Fundamentals – StockNews POWR Ratings

StockNews created the proprietary POWR Ratings model to put the odds of investing success firmly in your favor.

This is truly one of the most complete stock ratings systems available to investors today. In fact, we analyze 118 different factors for every stock, each of them contributing a little to the stock’s likelihood of outperformance.

The combination of all these factors is what leads to the +31.10% annualized return for the “A” rated stocks, outperforming the S&P 500 by almost 4X since 1999.

Don’t worry…. you won’t need to analyze all 118 factors for each stock. We have simplified the process by narrowing it all down to an overall POWR Rating that clearly identifies whether the stock is likely to outperform (A & B rated).

The Technicals – Market Club’s Trade Triangles

Know exactly when to get in and out of the market!

This complex analysis hides behind easy-to-use, easy-to-understand signals – giving you the answers to make confident investment decisions.

Instead of finding just one trend, they confirm trends for multiple time periods to put the mathematical odds in your favor that you will be on the winning side of that swing.

These signals are not intended to catch tops and bottoms. Instead, the signals help members find the majority of a swing trend.

Green Triangles suggest positive trends
Red Triangles suggest negative trends

Monthly Triangles determine trend and possible entry points.
Weekly Triangles determine timing exits, entries, and re-entries.

Interesting to note that both services (POWR Ratings and Trade Triangles) don’t claim to have a foolproof formula. Far from it. They do a lot of hard work to generate the results.

Instead of a magic bullet, they both state that they look to put the odds in your favor.

At the end of the day, trading is about probability, not certainty.  There will be some losses, but the winners should more than outweigh the losers.

Trading is difficult and requires time, hard work, and discipline. There is no easy way to make money. The key is to have the computers do the heavy lifting.

For realistic traders and investors looking to realize above market type returns, using the combined efforts of the fundamental foundation of the POWR Ratings with the technical acumen of the Trade Triangles can help boost your odds.

Factor in the management by an industry veteran who isn’t afraid to take small losses and let winners run, and the probability of long-term success jumps even higher.

What To Do Next?

Discover my 7 hand picked stocks ready to burst higher even in the midst of the turbulent 2022 stock market. Plus 2 more picks are coming this Monday morning.

All you need to do is start a 30 day trial to POWR Breakouts to start enjoying more winning trades in the days and weeks ahead.

Start 30 Day Trial to POWR Breakouts >

Here’s to good trading!

Tim Biggam
Editor, POWR Breakouts Newsletter

SPY shares fell $0.84 (-0.21%) in after-hours trading Friday. Year-to-date, SPY has declined -13.34%, versus a % rise in the benchmark S&P 500 index during the same period.

About the Author: Tim Biggam

Tim spent 13 years as Chief Options Strategist at Man Securities in Chicago, 4 years as Lead Options Strategist at ThinkorSwim and 3 years as a Market Maker for First Options in Chicago. He makes regular appearances on Bloomberg TV and is a weekly contributor to the TD Ameritrade Network “Morning Trade Live”. His overriding passion is to make the complex world of options more understandable and therefore more useful to the everyday trader.

Tim is the editor of the POWR Options newsletter. Learn more about Tim’s background, along with links to his most recent articles.

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The post How to Stack the Odds in Your Favor… appeared first on StockNews.com

Approaching the final week of November CSL Ltd ADR (OTCMKTS: CSLLY) received some good news as the United States Food and Drug Administration approved CSL Behring’s new gene therapy drug, HEMEGENIX (etranacogene dezaparvovec-drib) for treating hemophilia B. The news helped continue the stock’s upward momentum, a trajectory that has been mostly consistent for at least the last four years.

Based in Australia, CSL Behring (AXS: CSL) is a segment of CSL Ltd, which trades under the ticker symbol OTCMKTS: CSLLY in the US market. Their other segments include CSL Plasma, CSL Seqirus, and CSL Vifor; all of which address various aspects of biotechnology and health services.

CSLLY stock’s current value is sitting in a good place: breaking the $100-theshold and resting just below the all-time high ($117.74 USD). Combined with a decent forward dividend yield of 1.11% and projected earnings growth of more than 21%, there could easily be more to come from this company (and its interconnected segments).

November 2022 Was Good to CSL Behring

This late November development is just the latest advance in what has been a busy month for CSL Behring. For example, earlier in the month the company announced its collaboration (and licensing agreement) with Arcturus Therapeutics Holdings, Inc (NASDAQ: ARCT). This partnership would develop and improve capabilities for large-scale clinical supply delivery; in particular enabling CSL to deliver mRNA vaccines to market more efficiently and effectively. These mRNA vacccines would eventually help treat common diseases like the flu and Covid-19.

The positive coverage of both the Arcturus collaboration and the HEMGENIX approval helped raise the price of CSL stock during November. Then, on November 23, CSL Limited share price broke through $300 (AUD) for the third time in all of 2022, closing out the month at $300.11 AUD. That is up 6.92% from the month prior. It has since settled back down a little, just south of that threshold.

Similarly, CSLLY is up +14.62% over the last 30 days; and up +1.21% over the last 90 days.

A High Price With High Potential

The FDA approval comes amidst successful results in the ongoing HOPE-B trial, which happens to be the largest hemophilia-B gene therapy trial to date. So far, results show marked improvement over various study criteria that definitely qualify HEMGENIX as a more attractive treatment option. Effectively, the study found that roughly 94% of patients treated with HEMGENIX discontinued use of their traditional prophylactics.

The price for this new drug is $3.5 million USD per dose, making it the most expensive drug in history. Of course, HEMGENIX is not alone in the upper ranges of drug cost. Take Novartis (NYSE: NVS), for example; their infant spinal muscular atrophy drug Zolgensma sold for $2.1 million USD a dose, upon its approval in 2019. And Bluebird Bio, Inc’s (NASDAQ: BLUE) beta thalassemia (blood disorder) treatment Zynteglo was listed at $2.8 million USD only a few months ago.

Of course, this news about HEMGENIX is typically the sort of thing that motivates investors. First of all, an independent nonprofit research organization, the Institute for Clinical and Economic Review (ICER), has determined that a fair price for HEMGENIX should be around $2.95 million USD. They determine this cost-effectiveness analysis by weighing the drug’s health benefits against offset costs. This gives the drug quite a premium, and that means more profit.

In addition, a treatment upgrade means the product will be more attractive to patients, even at a higher price point. Reducing much of the obstacles presented by other treatments can also make it more accessible to patients with particular sensitivities.

Stable Growth Could Make CSLLY Investment Worthy

All this in mind, CSLLY could be a moderate BUY, at least for now. While it is still stabilizing from the recent news, analysts expect at least 10% business growth in the future. And with a 52-week high of $312.92 AUD, CSL could be on its way to a record high in no time. CSLLY currently pays an annual dividend of $1.08 per share and has a dividend yield of around 1.1%, which greatly exceeds the 0.1% industry average. This industry category includes biotechnology, pharmaceuticals, and life sciences.

On the other hand, CSL has a Price-to-Earnings ratio (P/E) of 42.98, which is nearly double that of the industry average. This implies that the stock may not grow as quickly as analysts hope. Also, its 10.2 Price-to-Sale ratio (P/S) exceeds the industry average of 4.4. This could mean CSL is probably spending more than it would like to be.

Put simply, dividends are the primary method by which a publicly traded company returns profits to shareholders. 

Are you ready to understand “What is a good dividend yield?” in simple terms? You may also want to simplify your knowledge of what a dividend is and why you might want to buy one. 

In this article, we go into deep detail on what makes a good dividend yield, how to calculate dividend yield, what “high” and “low” dividend yield is and what it means. Let’s dive in.

What is Dividend Yield?

The dividend yield refers to the amount of money a stock pays when you own it. Dividends are money a company pays to investors, usually from earnings (but not always). They are a foundational reason to own stocks and one of the reasons why the stock market exists. Investments pay you to own them, either through capital gains or profits. Dividends show how a company in today’s stock market pays profits to shareholders. 

What is a good dividend yield for a portfolio? Naturally, it’s a tougher question to answer. 

What is a Good Dividend Yield?

What is a good dividend yield? It’s a loaded question. 

What is good for one company may not be good for another and neither may be good for your portfolio. A good yield is one that a company can sustain as they pay it. A regularly paid dividend is the foundation of a buy-and-hold mentality and something most companies hope for and strive to achieve. 

For easy reference, a good yield should be high relative to the broad market S&P 500 and the company’s peers. Ironically, you don’t even have to own stock for more than a day to get the dividend. To find out how, you need to know about the ex-date versus the day of record. 

How is Dividend Yield Calculated?

The dividend yield is an easy calculation. You determine yield by dividing the dividend payout amount by the stock price. There are two ways to calculate yield: You can use the dividend payments over the trailing twelve-month (TTM) period and you can also use the expected dividend payments over the coming twelve-month period. 

Why is Dividend Yield Useful?

The dividend yield is useful because it is one of only two reasons to own a stock — growth and dividends: 

1. Growth: The company is growing and the stock will be worth more in the future. 
2. Dividends: The company shares its profits in the form of dividends. Dividends are also useful as a means of generating income, leveraging your portfolio by dividend reinvestment and they can help offset inflation decay. 

What is a good annual dividend yield? One that makes you smile when you think about it. One way to find those is to use the best dividend stocks tool. 

When is a Dividend Yield too Low?

When is a dividend yield too low? You have to answer that question for yourself. 

Some of the reasons why it might be too low may be due to your portfolio strategy, the yield relative to peers, the yield relative to the S&P 500 and the risk relative to owning bonds. If the goal of the portfolio is low risk and you want to achieve income with no need for capital gains, your threshold may be lower than if the portfolio was more risk tolerant and if you were looking for growth. 

In all cases, consider owning a number of dividend stocks for diversification and safety. 

When is a Dividend Yield too High?

At face value, no dividend yield is too high because higher is better as long as it is sustainable. In reality, dividends have to be sustainable in order to be attractive to investors. Unfortunately, high yields are not always sustainable. 

A dividend is too high when the company cannot sustain the payment. If there is risk of a dividend cut or suspension, that could weigh on the share price and worse, it could cause the loss of capital if the cut or suspension comes to pass. 

What is good dividend yield? In this case, it’s a dividend you can rely on. 

What Causes a High Dividend Yield?

There are many reasons that could affect the yield dividend stocks, including the payout amount and the price action. Let’s take a look at a few reasons more in depth:

1. A stock’s dividend yield is a function of its payment. Assuming the stock’s price remains static, the higher the payment, the higher the yield. The problem (or opportunity) for investors and traders, depending on how you look at it, is that a stock’s price is rarely static. 
2. A stock’s dividend yield is also a function of its price action. Assuming the dividend distribution amount remains static, which so often is the case, an upward movement in the stock price will reduce yield. The inverse of this is true if the stock’s price moves lower. In that case, the yield would move higher and open up a potentially high-yield opportunity for investors. 
3. A stock’s dividend yield is also a function of data. Sometimes the data used to determine the yield that is displayed is based on past results and not relevant to the future. One example is an MLP, REIT or shipping stock that pays its monthly payment based on income. In some cases, traditional corporations are governed by managed distribution plans that dictate how much, how often and when a dividend payment can get paid out. For example, the company Cal-Maine Foods (NASDAQ: CALM) cannot make a distribution for any quarter with negative earnings and the company cannot make a distribution until those lost earnings are made up. 
4. News can have a big impact on the yield. For example, news displayed on websites and in stock searches may send a stock price into the trash bin and spark a massive spike in yield. The trouble with this type of “high yield” is that the news may have already included a dividend cut or suspension or may lead to one in the future. 

Evaluating High Dividends for Risk

High dividends are attractive to investors because more is better, right? In the case of dividends, high payouts can be a red flag or, in some cases, an indication of trouble that has already happened. Check out a list of things to review to know whether a stock’s high yield is worth buying or not. 

Compare the Yield with Peers

Dividend-paying stocks in the same sector tend to pay out similar yields relative to their values. The first thing to check when evaluating a high yield is to see if it is abnormally high for the group. A higher-than-average yield is one thing — it could signal an opportunity. However, a significantly higher yield is reason enough to dig deeper into the details. 

You get what you pay for. What you don’t want to pay for is a distribution cut or suspension that will leave share prices in the dust. 

Check Out Dividend Statistics 

Most stock websites will publish a list of commonly followed dividend statistics that you can use to weed out risky high-yield stocks. Among these metrics is the payout ratio, the compound annual growth rate (CAGR) and the years of consecutive increase. 

The payout ratio tells you how much of a company’s earnings are paid out in dividends. In this case, lower is better and higher is worse. The higher the payout ratio, the less room in the cash flow for dividend increases or paying for other things like growth. 

The next statistic is the CAGR, which tells you the pace of distribution increase which can be more important than yield. The higher the CAGR, the better, because it means the yield on investment continues to grow and should grow at a similar pace in the future. 

The final statistic is the number of years of increases. This figure can tell you a lot because a history of sustained dividend increases can be a powerful reason to buy and hold a stock. The top dividend stocks have a decades-long track record of dividend increases. 

Check the Balance Sheet

It doesn’t take an accountant to see red flags on a balance sheet. The easy numbers to look for include cash and equivalents (known as liquidity) and the company’s debts, both short and long term. If the company has a healthy cash balance and little to no debt, the cash flow is unimpeded by debt payments and free for use. 

If not, the company may have a hard time paying out dividends or sustaining its record of consecutive annual increases. You can check the leverage ratio, a measure of how much debt the company carries relative to its assets. In this case, low is good. A leverage ratio under three is very good; under 10 is okay depending on the reason why the debt exists. 

Learn What Others Say About the Stock 

Finally, what do others say about the stock? Check the analyst’s ratings and the trend in analyst sentiment. If the analysts are getting warmer and this matches the fundamental outlook, the high yield dividend stock is likely a good buy. If the analyst’s sentiment cools, you may want to avoid it. After that, check the headlines and find out whether the company struggles in any way or faces hurdles that may impact its results. 

A Good Dividend Yield is Where You Find it 

So, what’s a good dividend yield? Put simply, it’s one the company can sustain and which fits the needs of the portfolio. 

You’ll treasure a good dividend yield, but good is relative. A good yield for a tech stock may be a horrible yield for a consumer staple stock — not all types of companies can sustain a “high yield.” To find a good yield, make sure the company can pay it and compare it to others in the sector. If it looks attractive relative to its peers, then it is a good yield. 

FAQs

Still have some questions about what makes a good dividend yield? There’s no one single answer to rule them all. However, we’ll dive into some frequently asked questions to help you understand which dividend yields are good and which ones to avoid. 

Is a 6% dividend yield good?

A 6% dividend yield is good. That is more than three times what the average S&P 500 company pays and well above the threshold to be considered a “high yield.” 

What is a too-high dividend yield?

A too-high dividend yield refers to one that isn’t sustainable. A 10% yield coming from a highly leveraged growth stock isn’t the same as if it were paid by a REIT. To get an understanding of a too-high dividend yield, compare yields within sectors and check out the earnings, free cash flow and balance sheet to see if the company has the money. 

What is a good average dividend yield?

A good average dividend yield depends on the sector and stock. Each sector tends to trade at a different valuation and those vary over time. To find “average” dividend yields, compare yields within a sector and with the broad market S&P 500. 

Zoom Video (NASDAQ: ZM) has gone from an obscure but easy-to-use video communications platform to becoming a verb synonymous with video conferencing and remote engagement driven by the COVID-19 pandemic. Zoom Video was one of the major benefactors of the pandemic that helped usher in the “new normal” of hybrid work in a post-pandemic world. While other video calling tools were available, Zoom’s incredibly easy interface brought video conferencing to the mainstream masses. The Company’s growth has since peaked as normalization continues to set in. The question is where the baseline is for Zoom and what catalysts can help it speed growth back up. The Company compete with many teleconferencing and business collaboration software companies like Adobe (NASDAQ: ADBE), Microsoft Teams (NASDAQ: MSFT), Salesforce (NASDAQ: CRM), Google Workspace (NASDAQ: GOOG), Cisco Webex Meetings (NASDAQ: CSCO) and even Verizon (NYSE: VZ) with its BlueJeans Meetings app.  The Company wants to become a unified communication platform with the addition of email and calendar functions. It has also partnered with AMC Entertainment (NYSE: AMC) to turn some locations into Zoom meeting rooms

Growth Continues to Slow

On Nov. 21, 2022, Zoom Video released its third-quarter fiscal 2023 results for the quarter ending October 2022. The Company reported earnings-per-share (EPS) profit of $1.07 beating consensus analyst estimates for a profit of $0.84 by $0.23. Revenues rose 4.9% year-over-year (YoY) to $1.1 billion, matching consensus analyst estimates for $1.1 billion. $100,000 annual run rate (ARR) customers rose 31% to 3,286. Enterprise customers rose 14% YoY to 209,300. Enterprise revenue rose 20% YoY to $614 million. Online average monthly churn was 3.1% down 60 basis points from same period last year. Zoom Video ended the quarter with $5.2 billion in cash and cash equivalents and marketable securities. Zoom Video CEO Eric Yuan commented, “Our customers are increasingly looking to Zoom to help them enable flexible work environments and empower authentic connections and collaboration. Proactively addressing these needs with Zoom’s expanding platform continues to be our focus in this dynamic environment.”

Lump of Coal Guidance

Zoom Video issued downside guidance for fiscal Q4 2023 with EPS between $0.75 to $0.78 versus $0.82 consensus analyst estimates. Fiscal Q4 2023 revenues are expected to come in between $1.095 billion and $1.105 billion versus $1.12 billion. Incidentally, constant currency revenues are expected between $1.12 billion to $1.13 billion. Total fiscal 2023 revenues are expected between $4.370 billion to $4.380 billion and $4.42 billion to $4.452 billion in constant currency. Non-GAAP EPS for full-year fiscal 2023 is expected between $3.91 to $3.94 with 304 million weight average shares outstanding.

Analysts Cut Price Targets

Piper Sandler lefts its Neutral rating unchanged but cut its target price to $77 from $84 per share. Analyst James Fish was underwhelmed by its Q4 lump of coal outlook and concerned for the declining total customer base as the rate of new business continues to decelerate. Baird kept its Outperform rating but slashed the price target for Zoom shares to $95 from $100 per share. Analyst William Power felt the Q3 2022 results were solid, but its outlook remained mixed due to currency headwinds are weaker deferred revenues. Zoom remains a top holding at 8.31% in the Ark Innovation ETF (NYSEARCA: ARKK) operated by famed fund manager Cathie Wood.

Weekly Descending Triangle Risk

The weekly candlestick chart illustrates the potential for a descending triangle breakdown as it makes lower highs against a flat low at $70.44. Shares continue to reject off the falling weekly 20-period exponential moving average (EMA) now at $87.97. The Q3 2022 earnings reaction further accelerated the selling towards the $70.44 low area before a coil attempt failed to trigger the weekly market structure low (MSL) buy trigger above $81.50. Distribution volume rose upon the earnings release but was moderate compared to nearly double the volume on its Q2 2022 earnings sell-off. The weekly stochastic bounce through the 20-band stalled on the selling pressure setting it up for a potential crossover back down as shares near the flat lower trendline of the weekly triangle. As the channel between the falling upper trendline and flat trendline gets tighter towards the apex, shares will either breakout by triggering the weekly MSL or finally breakdown through the swing lows. This should resolve by the end of the year. Pullback support levels to watch sit at the $70.44 swing low, $67.60, $64.75, $60.97, %57.59, $54.54, and the $50.55.

The U.S. apparel market is forecast to contract 2% this year. Not bad considering the myriad of challenges facing clothing manufacturers and retailers. Ongoing supply chain disruption, higher materials costs and inventory build-ups have weighed on the industry in 2022.

Thankfully, apparel investors may not lose their shirts for much longer.

Fewer logistics issues and moderating inflation are part of a more comfortable outlook for clothing companies. According to Statista, apparel industry volume will increase 9.7% next year as product availability and demand improve. Over the next five years, apparel market sales are forecast to grow 3.6% annually. 

The bullish outlook and recent quarterly earnings releases have several apparel stocks trending higher in recent weeks. And since many were hemmed in half from their 2021 peaks, the road to recovery remains a long one. Here are a few of the names worth trying on for sizable gains.

Why is The Gap Stock Going Up? 

The Gap, Inc. (NYSE: GPS) has almost doubled from its September 2022 low and has finished higher in 10 of the last 11 trading days. The momentum kicked into high gear after the retailer posted better-than-expected Q3 sales and profits. The double beat was driven by demand for more formal attire as Americans returned to the office and in-person social engagements. Dresses, woven tops and pants are flying off the shelves again. 

Banana Republic is again a strength for the company after notching 8% sales growth last quarter. The relaunch of work clothing drew more people to the stores. Old Navy and fitness-apparel arm Athleta also delivered growth while the flagship Gap business had flat sales due to soft kids clothing demand. 

The biggest reason for investors to get excited about The Gap is e-commerce. Digital sales were up 55% from pre-pandemic levels and 5% over last year. At a time when online shopping is slowing, The Gap’s e-commerce growth shows that consumers are finding value in the products. Digital sales now account for almost 40% of overall revenue.

Despite management anticipating a ho-hum holiday shopping season, Gap shares gapped up on the report. This tepid outlook has undoubtedly contributed to Wall Street’s skepticism around the stock’s surge — but makes the retailer an intriguing contrarian play heading into 2023.

What is Abercrombie & Fitch’s Growth Strategy?

Abercrombie & Fitch Co. (NYSE: ANF) gapped up in heavy volume last week on the heels of an impressive top and bottom line beat. Although both sales and earnings declined year-over-year, encouraging demand trends and ample inventory for holiday shoppers have investors lining up for a comeback.

Six months removed from a major plunge, the casual clothing company is re-establishing credibility due to strength in its core Abercrombie brand and progress with its ‘2025 Always Forward’ initiative. While omnichannel growth is a popular buzz phrase, the real reasons to invest are prospects for improved profitability. 

By the end of fiscal 2025, management is targeting an 8% operating margin compared to the 2% to 3% expected this year. Longer term, it sees operating margin expansion beyond 10% as cost savings kick in and global recognition of Abercrombie and Hollister broadens.

Abercrombie & Fitch has been one of the best clothing retailers when it comes to building out its online presence. Higher margin digital sales account for roughly half of all sales and are poised to be an even bigger part of the business going forward. Digital marketing and social selling hold the key to attracting Millennial and Gen Z customers. 

Burlington Stores Had a Bad Q3…Why Did the Stock Go Up?

Burlington Stores, Inc. (NYSE: BURL) is on the move despite a disappointing Q3 performance that included a 17% decline in same-store sales. The off-price retailer has yet to capitalize on the macro environment but believes it will attract bargain shoppers in 2023. Burlington touts prices on coats and other apparel that are as much as 60% below the competition. 

The upbeat outlook combined with positive peer earnings reports has pushed the stock back to the $200 level for the first time in six months. However, given the weak sales and margin pressures, the stock is now a ‘show me’ story with little room for error. 

To build off the fortunate momentum, Burlington Stores must demonstrate that its ‘2.0 Off-Price strategy’ is working. The key component here is communicating a better message to consumers about the value the stores offer. Keeping the merchandise assortment fresh and inventory management will also be important but at the end of the day, effective marketing campaigns and word of mouth must drive stronger customer traffic.

Unlike The Gap and Abercrombie & Fitch, Wall Street loves Burlington Stores. Twelve of thirteen analysts called the stock a buy after the Q3 update. Proof of execution is needed here but this discount clothing retailer could be a good fit for the current economy.

GAP is a part of the Entrepreneur Index, which tracks some of the largest publicly traded companies founded and run by entrepreneurs.