Valens Equity Weekly Insights and Inflections for November 26, 2019
Most Compelling Long Ideas
CRUS, PINC, CTSH, COF, EBAY
Most Compelling ECF™ Inflections
AN, POST, TTD, ACAD, CACC
Company Specific Highlights & Insights:
ABT, ADBE, BLK, COST, EW, FSLR, GNTX, IBM, ISRG, KO, KSU, MSFT, OMC, PEP, SNA, TSLA, TXN, URI, VRTX
Aggregate ECF™ Trend Analysis:
Management confidence levels appear to be inflecting more positively in October; breaking off their negative trend for the past several months. The ratio had dropped significantly from 2018 levels in the middle of 2019, however the recent positive inflection may be a sign of management teams growing more confident about investing. This has been signified by both a bump in confidence markers, but more importantly, a drop in highly questionable markers, a sign of reduced concerns about visibility for businesses going forward.