Research

We think portfolio managers should be buying growth stocks again, focusing on positive free cash flow and margin expansion, not earnings-based valuation…

We strongly recommend equity investors run a portfolio with low gross exposure to REITs as we see several signs that make investment in REITs particulary risky today…

This recovery since March of 2020 has allowed the path of March of 2009 in many ways…

Last week in our first inflation note, we tackled the relationship between stock returns and interest rates, concluding that healthcare services and technology hardware..

The primary topic of interest following our initiation is inflation. We have been asked about how inflation unfolds, and what the relative investment opportunities…

FAANGM (Facebook, Apple, Amazon, Netflix, Google and Microsoft) is 22% of the market capitalization of the SP500, the size of financials and consumer discretionary sectors combined. Would you own neither of those sectors?…

The proliferation of interest in ESG is massive, as is the growth in assets chasing these investments. The marketing
efforts of large asset managers trying to attract incremental capital to them is also staggering…