Archive for September, 2012

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ISM – Increasingly Slower Manufacturing!

The ISM numbers today again support our view that slowing demand is likely to cut significantly into second half earnings and in many cases drive some significant surprises or revisions.  Given that this coincides with a period of very high

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Quick Thoughts: The Problem with Software Patents

– Apple had every advantage in its case against Samsung, but the value of the verdict will likely erode over time as the appeals process plays out. – The patent system is based on rules set in 1952 and is

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US Healthcare Demand, Part 1: ‘Baseline’ Growth

This note quantifies a ‘baseline’ rate of real growth in US healthcare demand, which we define as the rate of growth one would expect sans any upcoming secular, cyclical, or reform effects We estimate baseline growth of 4.8% +/- 0.9%

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