Musings on mega-cap companies, industry thoughts and facts and figures on oil and energy services, and stock write-ups including shipping and logistics companies.
Musings address size factor and risk in equity index performance; discussion of small vs large cap performance, and the improbability of mega cap companies meeting the earnings growth projections embedded in their market capitalization. In Facts & Figures, an updated discussion of FB and GOOGL advertising spending as a share of global advertising spending.
The transformation of the fixed income asset class; Surveying both idiosyncratic and systemic risks in low-yield bonds.
Discusses divergence between income growth and inflation, and the rise of royalty companies as an asset class, among other topics.
Active managers are judged relative to index and ETF benchmarks. Who judges the indexes?