The “Moonshot” Portfolio


When going through out point and figure charts, we sometimes come across a chart formation that we colloquially refer to as a ”moonshot”.  A ”moonshot” is when a chart has been in a basing formation or in a trading range for some time and then strongly bursts out of it to the upside.

A Discussion On Return On Equity


One the primary reasons we adjust financial statements to include intangible assets is have a more realistic lens to view every company with. Investment in intangible assets such as R&D, employee training and brand equity create sustainable, competitive advantages that result in higher market share and pricing power.

The Fundamental Case for Canon


Last week we received a good question from a client asking for our thoughts on Canon, the well-known maker of office machinery and cameras. Excepts from our response are below. From a relative strength perspective (relative to the MSCI ACWI), Canon has been in a well-defined long-term downtrend for the last four years.