Category Archive for "Published"

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Aluminum – Focus On The Bigger Picture

One of the appeals of the SSR platform is that we are not forced to get into the weeds of the daily news flow and data points, and really only talk about them when they are relevant to a theme

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Petrochemical Investment – Doing the Right Thing for Yourself But Possibly Ruining It For Everybody

In a research report that we published yesterday we discussed the likelihood of over-investment in petrochemicals globally as a result of the apparent feedstock opportunity in the US.  We paint a bearish picture of possible oversupply, in part fueled by

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SSR Index of Drug and Biotech Pipeline Values

We solve for the share price value of research pipelines by subtracting the NPV of approved and near-to-market products from companies’ enterprise values. We then estimate the relative volume and quality of future products in these pipelines using quality-adjusted patent

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Q1 Review – Still Minimal Appetite For Risk

We recently reviewed how the Industrials and Basic Materials Sectors fared in Q1 2013.  As is always the case, there is a mixed bag of results – some sectors did better than others and some stocks did better than others.

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April 2, 2013 – US Wireless Carriers: The Barbarians are at the Gate

US Wireless Carriers: The Barbarians are at the Gate The US wireless industry is a thirty year story of haves and have-nots. Spectrum holdings, access to capital, and strategic misfires have yielded an oligopoly with VZ and T exploiting inherent

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Private Health Exchanges: Why They’re Coming; What They Mean

We believe commercial health insurance markets will shift toward an exchange-based format for employees of all income ranges and employers of all sizes, and that this transition will occur for most employees within three to five years Rather than choosing

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The Mood of the Chemical Industry – Its Déjà vu, Almost

Every year the global petrochemical industry gathers in Houston for the (now) IHS World Petrochemical Conference, an event that I first attended in 1988, regularly through 1996 as a partner in then-hosts CMAI, and occasionally thereafter.  This year was an

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WAG/ABC – Quick Strategic Read-thru; Better for WAG than ABC

Walgreens (WAG) and AmerisourceBergen (ABC) yesterday announced a 10-year agreement in which: ABC handles US brand and generic wholesale distribution operations for WAG; ABC participates in global purchasing using the aggregated buying power of ABC, WAG, and Alliance Boots; and,

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The Razorback Alternative: Is Arkansas’ Medicaid Game Plan a Blueprint for Others?

Until recently, states had three apparent options for the Medicaid expansion: 1)       Do nothing 2)       Expand partially (probably to 100FPL) 3)       Expand fully (to 138FPL) Arkansas Governor Mike Beebe claims to have an agreement with HHS Secretary Sebelius for a

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SSR Index of Current-Quarter Healthcare Demand Growth, Interim 1Q13 Estimate

We expect 3.6% (nominal) y/y growth in US health services demand during 1Q13, the product of 1.8% growth in unit demand, and 1.8% price growth; a very slight deceleration from the 3.7% actual growth rate in 4Q12. Unit demand growth

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