Archive for October, 2011

Home »

Mobile Processors: Here, There, and Everywhere

  The three decade run of the PC ensconced Intel at the top of the semiconductor food chain, a position that appears ever more precarious as mobile platforms, largely based on ARM processor designs, proliferate.  In response, Intel will introduce parts

Read More

Quick Thoughts: Amazon Doesn’t Care About Your Precious Quarterly Results

In a sea of short-term thinking, Jeff Bezos thinks long.  Once again, Amazon has taken a bullet in the service of its long term manifest destiny, a wound that its investors should be conditioned to receive periodically as the company

Read More

ACA at the Supreme Court – What You Should Know

This note summarizes the events leading up to the Supreme Court’s likely review of the Affordable Care Act (ACA), and attempts to handicap the timing and outcome of the review We anticipate a verdict in or around June of 2012.

Read More

ACO Final Rule Lowers the Bar for Forming and Operating an ACO – Not sure it really matters …

CMS today released the final rule on Accountable Care Organizations (ACOs); the rule can be found here Our review of the preliminary rule concluded ACOs, as designed, would have little effect on costs. CMS’ changes to the proposed rule are

Read More

Quick Thoughts: The Week That Was in TMT

The announcements just keep coming in the mobile device market.  First, Apple missed a quarter for the first time in 9 years.  Most analysts are taking the news as an idiosyncratic blip, taking comfort in management’s unusually confident guidance for

Read More

UNH 3Q is less about MLR, more about PBM

UNH plainly intended to subdue 2012 EPS expectations in their 3Q release, and the market seems to have read this through to other HMOs’ earnings prospects. We suspect this read-thru is incorrect Systematic earnings pressures for HMOs tend to take

Read More

Quick Thoughts: The Best Strategy May Be No Strategy at All

“Robust Action and the Rise of the Medici 1400-1434” John Padgett; Christopher K. Ansell The American Journal of Sociology, Vol. 98, No. 6 (May 1993) I first read today’s linked paper shortly before it was published in 1993, while I

Read More

TMT M&A: Fat Wallets and Attractive Targets

The pace of M&A in TMT has accelerated in 2011, with more and larger deals than in 2010.   Through 3 quarters, 169 TMT deals have been done in 2011 for $84.4B, compared with 168 and $49.7 for the same period

Read More

Below Zero and Falling Fast: R&D Productivity as an Enterprise-Wide Crisis

We estimate current returns on R&D spending of -7% – before costs of capital – for a typical R&D portfolio (typical in terms of # of projects, mix of projects by phase of development, and mix of projects by large

Read More

Quick Thoughts: Our Own Private Internet

Steven Paul Jobs – 1955-2011 R.I.P.   “What Facebook Really Wants” Nicholas Thompson – the New Yorker News Desk Blog   I’m posting a link to a recent blog post by The New Yorker’s Nicholas Thompson, where he succinctly defines

Read More
test