What To Look For In Shopify’s Earnings
The shares of Shopify, already tremendously valued, rallied another 50% in the past three months. We fear this sets us up for an earnings disappointment. We provide some pointers in […]
Ellie Mae Is Too Expensive
Ellie Mae has one of the best business models we have come across. But the law of big numbers and some headwinds in the mortgage market is slowing growth and […]
Texas Instruments Is Highly Profitable
The beauty of Texas instrument is that even with moderate growth it produces a considerable amount of leverage. This is a company that is really impressive on numerous financial metrics, […]
Will Trump Be The Next Ronald Reagan?
Can Trump do a Reagan? We have to wait for further details of his tax plan and see what survives Congress. However, we have to point out that there are […]
The Limits Of Free Money
Investors have been much more savvy about how economies behave under excess savings than many policy makers and observers. While investors piled on and made a killing, many policy makers […]
Boom Time For Liberals
The existence of excess savings over investment produces an economy that works differently. It basically enables the public sector to increase spending for free. This is most visible in the […]
Cypress 3.0 Is Working And Has A Lot Of Leverage Remaining
Cypress is reinventing itself into Cypress 3.0, a shift from commodity memory production to a company providing integrated solutions. This shift should re-accelerate growth. For the next three years, most […]
For Finisar And Others, The Optical Network Selloff Seems To Be Largely Optical
A big selloff in optical networking stocks doesn’t seem to be based on hard facts. It mostly seems related to unconfirmed concerns about a China slowdown, but this seems a […]
The Great Unwinding
The Fed (and other central banks) has amassed a great amount of assets, bloating its balance sheet. The Fed has started signaling to the markets that it is considering starting […]
Play The Chinese Steel Cycle With ArcelorMittal
The steel sector is plagued by price swings that are to a great extent produced by China, alternating acceleration and slowdown of demand. While it’s difficult to get the timing […]