Research

The huge rally in November saw both growth and value participation. We wanted to highlight some of the major themes for investors who may have missed some of our work this month – including on growth and value investing. Important themes include: Growth Beta – The Honest Way to Evaluate Growth Investors Is Quality Even

The revenue growth of the S&P500 is remarkably steady. From 2005 through the 2024 bottom-up forecasts, the 20-year revenue per share growth of the S&P500 (excluding Financials and REITs) has been 6.75% (see below). There have been only three down years during that period, and only one (2015) which was not the result of a

Three months ago, we launched an industrials-focused product, given the sector’s importance in the broader equity market. In addition to providing industry -level recommendations not just sector level – we have focused on themes relevant to industrials portfolio managers and analysts, as well as generalist PMs who want periodic and differentiated updates on the industrials

We love it when the year-ahead outlooks come out from the bulge bracket firms. Not only having seen how the sausage is made, but having been a sausage maker, we always have the same thought – it is possible every one of the economists and strategists is wrong, but it is not possible they are

Click here to read Trivariate’s recent research note on Quality Value Investing.

Summary: We have developed a proprietary quantitative model to predict subsequent stock returns for all Industrials stocks that are not: (1) hyper growth, (2) high dividend yielding, (3) cheap for a reason, and (4) in the lowest quality quartile of our substance model we label “junk.” The model consists of seven signals that are intentionally

In our two recent notes on growth investing, we concluded that low “growth beta”, high quality growth stocks outperform, and avoiding the fastest growing growth stocks is prudent. Given the positive feedback we received on our growth quality framework, we decided to investigate quality investing in the value universe in today’s research. Less than 10%

The rally in the 10-year bond from 4.99% in mid-October to 4.66% today catalyzed a strong stock market rally. Nearly an annual rate of return (7.23% for the S&P500, 9.55% for the Nasdaq, and 4.18% for the Russell 2000) has been achieved over the last ten trading sessions. We always say that nothing changes investor

Summary: There’s Been a Substantial Valuation Correction in Machinery and Electrical Equipment Within Industrials, we have been recommending that investors short electrical equipment and machinery. The combination of high inventory-to-sales and high valuation vs. history were the pillars of our negative stance. Over the last two months though, we have seen 33% price-to-forward earnings and

Click here to read Trivariate’s recent research note on Growth Beta.