Research

We have been arguing for several months and still believe that there are three primary reasons the market is likely to continue to rally. An Accommodative Fed Gross Margin Expansion Earnings Growth for Several Years The first reason we are maintaining our bullish stance is our expectation that the Fed will eventually be accommodative, and

Click here to read Trivariate’s recent research note on Technology Strategy.

At the start of each quarter, we provide a detailed summary of the just completed quarter with the goal of helping investors make better investment decisions, in addition to providing insights that will facilitate investor communications, client conversations, and quarterly letters. Furthermore, our quarterly report seeks to identify emerging risk management concerns and give investment

We evaluated the efficacy of stock buybacks within the Technology sector. Given our longstanding view that there are several situations where buybacks are not effective, we broke down the Technology sector by style, substance, industry and profitability … 20240401_Tech_Strategy-Buybacks-2Download

With the high profile GE / Vernova spin today, we wanted to remind investors and companies of our work on spin-offs, video and written content attached here.  Please don’t hesitate to reach out to us with any questions. 202310_spin_offsDownload

At the start of each quarter, we provide a detailed summary of the just completed quarter with the goal of helping investors make better investment decisions, in addition to providing insights that will facilitate investor communications, client conversations, and quarterly letters. Furthermore, our quarterly report seeks to identify emerging risk management concerns and give investment

Below is our most-read research month-to-date. If you have any questions on these or other topics related to the current environment for investors, please let us know. Level Set – Are Small Caps the Alternative to the Magnificent 7? Link to Report March 3, 2024 During our investor conversations this month, the subject of small-caps

Many institutional investors have recently shared with us their concern that earnings expectations are too optimistic. Full year 2024 S&P 500 consensus bottom-up earnings estimates are essentially the same today as they were in the summer of 2023, at $244 per share (see below). Source: Trivariate Research, LP While there is clearly concern that an

Click here to read Trivariate’s recent research note on Technology Strategy.

Inspired by our Trivariate Quant Series call with Dr. Loughran, we downloaded the Loughran-McDonald Master Dictionary and added a few additional words to their well-known list of “weasel” words. These are words used by management teams that are associated with uncertainty, i.e. “wishy-washy.” Some sample keywords are “maybe”, “could”, “almost”, “sometimes”, and “depends.”  We then scanned through the