It appears to us that global innovation has bottomed and offers attractive value. An extended analysis follows in our Quarterly Strategy Report: Has Innovation Bottomed? Prefer to download this presentation in PDF? Please click here. 1. Summary -Innovation as a factor appears have bottomed earlier in…
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Maker of the probiotic “Yakult” drink, the company Yakult Honsha’s mission is to contribute to health, happiness, and the pursuit of excellence in life, science and microorganisms. Its flagship refrigerated milk drink is enjoyed daily by more than 40 million people in 40 countries. This…
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Innovation was the market darling thematic for many years leading up to COVID. The pandemic turbo-charged returns for innovation as the stay-at-home beneficiaries did phenomenally well. However, since the first quarter of 2021 innovation has struggled as a thematic strategy. It appears to us that…
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Headquartered in Norwalk, Connecticut, FactSet is a global financial data analytics company. Using a cloud-based subscription model, the firm delivers intelligence to inform investment decisions to more than 160,000 asset managers, bankers, wealth managers, and corporations. Its financial tools connect and contextualize data from 800+…
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Using our proprietary point-and-figure-based charting system, I review a couple thousand charts per week in an attempt to identify interesting buy or sale candidates. I am never satisfied with sector or industry-level narratives because underneath the surface, there is always more than one narrative going…
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Shopify is a leader in commerce solutions that allow merchants to set up online stores and sell their products. The firm’s tools power millions of entrepreneurs in more than 175 countries including brands as large as Netflix, Allbirds, and Tupperware. The firm was founded in…
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Salesforce is the No. 1 provider of customer relationship management (CRM) software in the world. Its flagship Customer 360 platform is designed to help businesses identify prospects, close deals, service customers and drive future growth. The firm was founded in 1999 in a small San…
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Last week, the combined dollar value of hedge positions on the S&P 500, NASDAQ 100 and Dow Jones Industrial indexes was $121.43 billion, not far from the August 16 peak of $160.02 billion. Last week, large traders (50 or more contracts) bought nearly 5 million…
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The most significant element going into the June low was positioning. Investors were hyper-aggressive buying hedges for equity exposure. Nothing has changed, especially after last Friday’s drop, and investors are still looking quite defensive. This is a positive in so far as it is indicative…
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Liberty Media owns interests in a variety of media, communications, and entertainment companies. Rather than tracking the whole firm’s performance as one, three separate tracking stocks follow the individual performance of the firm’s three separate groups. These include, first, Liberty SiriusXM Group, consisting of interests…
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