Archive for May, 2011

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Can Shuffling the Deck Create Growth?

Dividing PFE as it stands (‘total-PFE’) into two or more entities, for example one having older off-patent products (‘established-PFE’) and one having newer products and R&D (‘core-PFE’), infers that such a division either makes core-PFE a growth company, or opens

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TMT in 1Q11: The Curse of Great Expectations, Launching a Model Portfolio

1Q11 was an odd quarter for large cap TMT – growth in sales and earnings were well above historical norms, while the distribution of surprises was unusually poor.  Against this, valuations remain near historic lows.  Parsing out the quarterly results,

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Small Cap TMT: Time for a Three Month Check Up

In our piece “Small Cap TMT: The Idiosyncratic Method”, we made a case that a thematic approach to sector investing was particularly effective for small cap stocks, vs. traditional value or growth styles.  While stock selection based on association with

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The Thread Holding Generic Dispensing Margins

Plan sponsors’ (e.g. employers’) contracts with PBMs specify how much the sponsor pays for each prescription handled; plan sponsors’ payments to PBMs typically are determined as a function of the average wholesale price (AWP) of each prescription For brand drugs,

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