Finland’s Cargotec is a world leader in intelligent cargo handling. With a mission to keep goods moving swiftly from cities to ports to doorsteps, this firm deploys digital technology to smooth logistics flow and reduce waste. Cargotec’s origins go back more than 100 years when…
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In our Quarterly Strategy Report, we illustrate the relative attractiveness of select developed international sectors. Prefer to download this presentation in PDF? Please click here. 1. Summary -Monetary policy is considerably more restrictive than many perceive. The San Francisco Federal Reserve has calculated a “Proxy Rate” that…
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Akamai Technologies has deployed the most pervasive, highly distributed content delivery network in the world. With about 345,000 servers in about 135 countries, the Akamai Edge platform delivers and protects content for the majority of the major media, software and cloud computing companies operating today….
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Bandai Namco is a video game entertainment company that aims to make “play” a natural part of life. As of this year, it is the world’s third largest video game company after Sony Interactive and Nintendo. The company’s history goes back to 1950 in Tokyo,…
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We believe highly innovative companies, when accounted for properly, are cheaper than their non-innovative peers in all regions of the world. Below in our Mid-Quarter Update, we map the spheres of innovation in the developed world. Prefer to download this presentation in PDF? Please click…
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Investors in innovation tend to focus on the US exclusively, and some of that is for good reason as the US spends more than any other country on research and development. But there are many innovative companies outside the US that spend substantial sums on…
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LHC Group provides home health care services to patients in the United States, including post-acute, therapy, and hospice care. The firm also runs 124 residential facilities serving patients who have transitioned out of a hospital but whose conditions remain too severe to go home. Based…
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In recent reports, we’ve been highlighting that innovation—as a factor represented by R&D as % of sales—has stopped underperforming and it is selling for an attractive valuation. We used the S&P 500, Russell 2000 and other off-the-shelf indexes. Today we will highlight one of our…
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Headquartered in Monett, Missouri, Jack Henry makes an extensive array of financial technologies and services that connect banks to the people and businesses they serve. With a mission to help empower financial freedom, Jack Henry serves the two-thirds of the American population that is not…
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While many perceive the S&P 500 Index to be a broad innovation-heavy index, in a way it is and in a way it isn’t. It is an innovation-heavy index in so far as aggregate R&D investments total $478.8 billion, but it isn’t so innovation-heavy in…
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A couple weeks ago, in our quarterly strategy report (see: QSR-Has Innovation Bottomed?), I argued that it appeared that innovation had bottomed. I showed the following chart, which is maintaining its September 21, 2022 low, highlighting the quintile spread of the S&P 500 on the…
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Irvine, California-based Masimo makes non-invasive patient monitoring, measuring and sensing technologies that improve patient care in the hospital, the home, and on the go. When the COVID-19 pandemic hit, Masimo found itself in a unique position to support the urgent needs of both clinicians and…
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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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