Sometimes an industry evolves beyond the research model that covers it. Consider the case of financial exchanges. Sell-side equity research in this area is divided regionally between Asia, Europe, and the United States, with little or no overlap. These regional boundaries, while they make sense for research specialization in other sectors, tend to ignore the
Over the next 10 years, some of the greatest growth in health-care spending is projected for emerging markets such as China, India, and Brazil. For many reasons, growth opportunities are abundant in developing economies, but selecting health-care stocks, particularly among the smaller-cap companies based in these regions, is not without its challenges.
With political unrest and natural disasters around the world in recent weeks, investors rushed to gold as a safe haven and sent prices soaring. But while investors choose gold for many reasons, they may find that some gold-mining companies are a more attractive investment than the bullion itself.
The convergence of many types of high bandwidth content — especially video — on mobile devices, tablet computers, and Internet–connected television is generating rapid growth in data traffic on telecommunications networks. Forecasts suggest traffic may grow more than 30% annually over the next several years. Telecom companies may be able to translate data traffic into
Moody’s Investors Services recently gave the global pharmaceutical industry a negative outlook for the next 12 to 18 months, in large part due to the patent expirations of major drugs in 2011 and 2012. Some drug companies are already dealing with the effects of patent expiration and are increasing expansion efforts and merger-and-acquisition activity to
While overall consumer spending continues to fluctuate this year between marginal growth and zero growth, luxury spending is experiencing a rebound. Often considered a harbinger for consumer spending in general, global luxury goods sales rose 15% in the first quarter of 2010 alone, compared with a year ago. And many individual luxury companies have reported
The International Energy Agency estimates that China has just surpassed the United States in overall energy consumption. What opportunities does this present for investors? Robust growth in China’s energy consumption Consumption of energy in China has doubled over the past decade, and the International Energy Agency (IEA) estimates that the country has just surpassed the
Swiss pharmaceutical firm Novartis’s pending bid to acquire majority ownership of Alcon, an eye care products maker, in a deal valued at about $40 billion, stood out against a backdrop of only 3% mergers-and-acquisitions growth across industry sectors globally for the first half of 2010. While we aren’t likely to see many more large-scale mergers,