Analysis of companies in software, hardware, IT services, and internet sectors. Characterized by rapid innovation, high R&D spending, and disruptive business models.
Deep Dive: Explores SaaS metrics, cloud infrastructure, and the impact of AI.
Covers pharmaceuticals, biotech, medical devices, and healthcare providers. Key drivers include drug pipelines, regulatory approvals (FDA), and reimbursement policies.
Deep Dive: Contrasts business models of large pharma vs. speculative biotech.
Focuses on the high-risk, high-reward world of biotech. Analysis centers on the R&D pipeline, clinical trial outcomes, and regulatory approvals (FDA).
Deep Dive: Emphasizes the importance of cash runway and binary risk assessment.
Analysis of companies in commercial aviation and defense contracting. Key drivers include passenger and freight traffic, geopolitics, and government spending.
Deep Dive: Explores commercial vs. defense segments.
Covers auto manufacturers (OEMs) and suppliers. A highly cyclical industry undergoing a secular shift towards electric vehicles (EVs) and autonomous driving technology.
Deep Dive: Examines the transition to EVs and the autonomous driving landscape.
Analysis of companies that produce and sell goods to consumers. This primer distinguishes between consumer discretionary and consumer staples sectors.
Deep Dive: Explores brand power, supply chain, and direct-to-consumer (DTC) trends.
Covers the entire oil and gas value chain, from upstream (exploration and production) to midstream (pipelines and storage) and downstream (refining and marketing).
Deep Dive: Analyzes the impact of commodity price volatility on different sub-sectors.
Analysis of banks, insurance companies, and other financial services firms. A highly regulated sector sensitive to interest rates and credit cycles.
Deep Dive: Compares business models of universal banks vs. insurance underwriters.
A broad and cyclical sector that includes machinery, construction, and transportation. Performance is closely tied to economic growth and capital investment cycles.
Deep Dive: Focuses on the importance of backlog and book-to-bill ratios.
Covers traditional media (broadcasting, publishing) and new media (streaming, gaming). The industry is undergoing a structural shift from advertising to subscription models.
Deep Dive: Examines the "streaming wars" and content monetization strategies.
Analysis of Real Estate Investment Trusts (REITs) and property developers. The sector is sensitive to interest rates, economic growth, and property-specific fundamentals.
Deep Dive: Explores different REIT sub-sectors (e.g., office, retail, industrial).
Covers wireless and wireline service providers. A capital-intensive industry characterized by intense competition, regulation, and high subscriber acquisition costs.
Deep Dive: Discusses the 5G rollout and its implications for the sector.
Analysis of electric, gas, and water utilities. A defensive sector with stable, regulated returns, facing a long-term transition to renewable energy sources.
Deep Dive: Explains the regulated utility model and the impact of renewable energy investments.
An essential guide to understanding corporate credit ratings from agencies like S&P, Moody's, and Fitch. It covers methodologies and key financial ratios.
A foundational resource for all credit analysts.