The NFL is opening the gates to the barbarians. No majority ownership is allowed...yet. However, that will not limit the upside in Growth Equity investments. Investors should cheer, so should fans....
There has been a decoupling within the global semiconductor industry. Demand for AI and advanced chips has been booming. Yet, sales of legacy and non-AI semiconductors have failed to recover. Given their spectacular run-up, share prices of high-end and AI-chip producers might continue selling off ev...
The 15 percent slump in the relative valuation of US tech stocks versus bonds is a bubble starting to burst. Yet the adjustment has been relatively benign so far because a large part has come from the bond price going up. Unfortunately, the adjustment has much further to run and could ultimately tur...
Waging trade wars in a global multipolar order is folly. The US trade war against China has been an utter disaster for Washington, DC. None of its goals have been accomplished, whereas Beijing is making significant inroads into new markets. Somewhat heretically, we suggest that American policymakers...
We remain concerned that the risk-reward for equities is limited above our end-of-the-year target of 5,500 for the S&P 500. There is seasonality to consider, as well as positioning and sentiment. As such, we are not necessarily bearish because a recession is certain. But, rather, that the upside to ...
Q2 Earnings season has been strong, with sales and earnings growth accelerating and broadening across sectors. However, companies' results and commentaries are stoking some concerns. GAI monetization will take longer than most investors expect. Companies are also reporting that lower- and middle-inc...
The ongoing rally in ASEAN currencies will fizzle sooner rather than later as they are not supported by fundamentals. The ringgit and the baht, however, will fare better than the peso and the rupiah during the coming global risk-off period. This report explains why....
Democrats will not win a full sweep and implement drastic new tax hikes. However, our quant model still favors them to win the White House and just upgraded their odds. While we expect equity volatility around the election, investors do not need to worry about corporate tax hikes....
