Research

Trivariate’s Top 5 Videos

Below are our Top 5 most viewed recent videos. If you have any questions on these or other topics related to the current environment for investors, please let us know. #1. Trivariate’s Advice for Outperforming June 30, 2024 Click here to read Trivariate’s advice for outperforming. #2. Don’t Waste Time On These 3 Things May

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What Really Happened In Q2

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

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Trivariate’s Most Read Research – June 2024

These are some of the most frequently asked questions and observations we have from recent investor meetings: How long will Mega-cap Technology firms be able to spend capex on AI until the market forces them to show a return on their investment? Where are the AI profit pools? Technology investors discussing power When is it

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Level Set – Trivariate’s Advice for Outperforming

When you meet with institutional investors all day for years, you realize increasingly that part of what makes the market is that money is managed in disparate and competing ways to meet the needs of a wide array of constituents. Passive money, high gross / low net “multi strats,” and quant money with three hour-to-two-day

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VIDEO – Large Is Better Than Small

US growth stocks have performed very well since the beginning of 2023.  Large cap growth has performed in line with small cap growth in the risk-on tape.   While some investors believe small caps and broadening will happen,  viewing valuation as more attractive, we are skeptical.  We investigate the case for small vs. large cap growth

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VIDEO: IPOs – Avoid The Major Breaks

Recently, when we meet with several Equity Capital Markets (ECM) investors, there were several comments about the challenges of pricing initial public offerings (IPOs) correctly.  Most ECM investors have some trading rules about “Broken IPOs,” or IPOs that trade below their initial price.  With that backdrop, we investigated float, valuation, profitability, and subsequent performance for

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Large Is Better Than Small

US growth stocks have performed very well since the beginning of 2023.  Large cap growth has performed in line with small cap growth in the risk-on tape.   While some investors believe small caps and broadening will happen,  viewing valuation as more attractive, we are skeptical.  We investigate the case for small vs. large cap growth

Read More »

IPOs – Avoid The Major Breaks

Recently, when we meet with several Equity Capital Markets (ECM) investors, there were several comments about the challenges of pricing initial public offerings (IPOs) correctly.  Most ECM investors have some trading rules about “Broken IPOs,” or IPOs that trade below their initial price.  With that backdrop, we investigated float, valuation, profitability, and subsequent performance for

Read More »

Level Set – The Market Rally, Three Three Trillion, and Other Debates

During recent meetings, several investors questioned the sustainability of the recent market rally. Most did not anticipate market appreciation of this magnitude. There are three reasons the market continues to rally in our judgment. Firstly, financial conditions remain easy. Over the last 35 years, the Bloomberg Financial Conditions Index (below) has only been easier 8%

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