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Knowledge Leader Spotlight: Microchip Technology Inc., a Fundamental Analysis

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From time to time we illustrate our analysis of highly innovative companies in a Knowledge Leader spotlight. Today we look at Microchip Technology Inc. (MCHP), a highly innovative semiconductor manufacturer that produces programmable microcontroller products used in autos, computing and lighting, among many other applications. It also produces application development tools for microcontrollers, analog devices, […]

How Much More Can We Eek Out of the Econ Data?

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Several months ago we wrote that looser financial conditions should support economic data and stocks through year end. So far so good. Since then economic indicators such as the Markit manufacturing PMI have continued to chug higher and US stocks are up about 6%. With the economy seemingly on strong footing and and stocks hitting […]

Have We Seen Peak Home Price Growth this Cycle?

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The rise in home prices from the trough in 2009 has added $8tn to home values, pushing the value of homes to a level surpassing the 2006 peak (chart 1). In order to accomplish such dramatic growth, home price growth outpaced nominal household income growth in each of the last six years. In chart 2 […]

The Fundamental Case for Miners

Miners of all sorts have been put in the penalty box in recent years for massively over-investing from 2008-2013 on the thought that China’s infrastructure investment boom, and the commensurate demand for raw materials, would last forever. The over-investment and excess supply drove commodity prices lower and with it the performance of miners. For example, […]