When going through out point and figure charts, we sometimes come across a chart formation that we colloquially refer to as a ”moonshot”. A ”moonshot” is when a chart has been in a basing formation or in a trading range for some time and then...
Last week we received a good question from a client asking for our thoughts on Canon, the well-known maker of office machinery and cameras. Excepts from our response are below. From a relative strength perspective (relative to the MSCI ACWI), Canon has been in a...
One of the flagship principles of our investment process is an investment in intangible capital should be treated the same from an accounting standpoint as an investment in physical capital . Said differently, we are firm believers in the symmetry principle for capital accounting....
Savvy investors know that its not always the stocks that you own that make you a good investor but many times it’s the stocks that you successfully avoid....
In honor of Black Friday, we thought we would look at how the North American retailers look from a technical perspective using our relative point and figure charts. Once again, our box size is 2.5% relative performance and all charts have four years worth of...
We divide all stocks into baskets in an attempt to understand market internals. All stocks are divided into four groups: 1) early cyclicals, late cyclicals, hyper-cyclicals and counter-cyclicals. The early-cyclical basket is comprised of consumer discretionary stocks, while the late cyclical basket is comprised of...
We employ a modified point and figure approach as our preferred technical analysis tool. We take in the price of every security in the MSCI World Index and convert is into USD. Next we take in the price of all the various indexes and aggregates...
Yesterday Apple announced a whopping $90 billion stock buyback, to be completed by the end of 2015. This means they will be buying roughly $45 billion in stock this year and next. By way of comparison, this is $5-7 billion more than earnings that are...
