We launched Trivariate Research’s Technology Strategy product at the beginning of 2024. We are providing portfolio construction advice for Technology Portfolio Managers on a weekly basis this year, including on “Old” vs. “New” Technology, how to hedge winners in Software, how to think about AI vs. Industrials’ Semiconductors, and other key topics. Below we have
We continue to have a positive view of the US equity market. Our judgment is that it is too early to get defensive, and risk taking will continue to drive the market higher. However, we can report (at least anecdotally) that sentiment is getting into ebullient territory as several investors are employing the “if there
Companies often do secondaries or follow-on offerings as the market appreciates in order to fund growth or enrich the founders or early investors. We analyzed the follow-on offerings from US equities since 2000 to determine if they are good investments. There were relatively few follow-ons in 2022 and 2023, but the pace so far this
The topic of market breadth has been surfacing in our conversations and in the media with increasing frequency. Seemingly every time we are on a panel, or on TV, a macro strategist is pronouncing how breadth is a positive and healthy indicator. We think breadth is favorable for stock selection, but don’t think it means
Click here to read Trivariate’s recent research note on Technology Strategy.
Click here to read Trivariate’s recent research note on Technology Strategy.
Investors who were short PANW complained about the post-earnings recovery in the stock, as did those who were long MDNY and saw the shares subsequently retreat. With this in mind, we decided to study the efficacy of 10-day price momentum at predicting Technology stock returns in today’s research…
Click here to read about Trivariate’s key conclusions on successful IPOs.
The Reddit IPO is imminent, and, as such, we updated our key IPO research conclusions. Free float, majority sellers, and profitability matters for the distribution of outcomes. If history is accurate, this dictates that Reddit will perform…
Given the big move in Technology stocks, we analyzed whether there is any information in the sell-side ratings and price targets that are investable. There are biases to their recommendations- they prefer growth stocks and high beta stocks. It used to make sense to do the opposite of the sell-side, but now…
