Quarterly Update: Knowledge Leaders Strategy

page 8 graphic

In our new quarterly update report, Portfolio Manager Steven Vannelli, CFA, discusses the investment team’s recent analysis on two topics, including: 1. New portfolio opportunities. Huge innovation in the energy sector – and the US Shale Revolution specifically — has manifested into new portfolio opportunities. The US cost of production of oil has fallen by 50% over […]

By 2030 Intangible Investment Could Be the Largest Component of Overall Business Investment in the US

1-copy-copy-copy

The shifting composition of US business investment is accelerating once again. Out of the three categories of non-residential fixed investment (intangible property products, equipment, and structures), only intangible property products (IPP) is growing on a year-over-year basis. IPP has increased by nearly 6% over the past year while equipment and structures have declined by almost […]

Why Don’t More Investors Question ROE Figures?

1 - Copy - Copy (2)

Return on equity (ROE) is one of the foundational measures of profitability in finance. It is taught in many first year finance courses in college, it’s a staple in the CFA curriculum, and is widely used as a “go-to” indicator of how profitable a firm or an industry is in the investment management profession. In many industry groups ROE […]