As 2019 draws to a close, we thank you for your ongoing readership and support. We wish you and your loved ones a happy holiday season and all the best for a healthy and prosperous 2020. Highlights We explore the principal risks to…
According to the University of Michigan, consumer confidence is softening; meanwhile, the ISM and NFIB surveys are all firing warning shots. However, we are still compelled to stick with our overweight S&P movies &…
Overweight Consumer data has taken a hit in the past quarter as the University of Michigan, ISM and NFIB surveys all fired warning shots. However, we are still compelled to stick with our overweight S&P movies &…
Highlights Portfolio Strategy Despite the Fed’s supra natural powers, the deep rooted global growth slowdown will likely win the tug of war versus flush liquidity, especially if the trade war spat stays unresolved and the U.S.…
Late Friday night news broke that the DOJ was working on an antitrust investigation into Alphabet Inc., parent of GOOGL/GOOG, and on Monday, according to the Wall Street Journal, the “FTC got jurisdiction for a possible…
Underweight (High-Conviction) The last two weeks have seen earnings reports from the S&P interactive media & services index’s heavyweights Alphabet (the parent of Google) and Facebook and the prints were…
Core to our thesis is that content is king and Disney is the reigning consolidator. Notably, the company’s Avengers property, acquired via the $4 billion acquisition of Marvel a decade ago, just set the record for box…
Overweight Last week we highlighted a number of reasons why the S&P movies & entertainment index had turned a corner, underscoring our upgrade to overweight.1 Core to our thesis is that content is king and Disney is…