Research

Valens Equity Weekly Insights and Inflections for August 28, 2019

Most Compelling Long Ideas
CVSCRUSEBAYCOFWGO 

Most Compelling ECF™ Inflections
MAABBVMOURIACAD

Company Specific Highlights & Insights:
AMNBABMRNCATCTSHCRUSDISC.ADHIFSLRGRMNHONLEVILRCXMSMMTZNOVPMPYPLSWKTPRWHD

Aggregate ECF™ Trend Analysis:

Management confidence levels appear to be gaining negative momentum, particularly in the last several months; breaking off their positive trend for two years. The ratio had consistently remained above 2016-2017 levels, however the recent inflection down may be a sign of management teams growing more uncertain about investing. In particular, this has been signified by a sustained rise in highly questionable markers, as opposed to a decline in management confidence.