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
Consumer media, communications and commerce applications are being subsumed by the Internet. The simultaneous rise of smart devices, connected home electronics, fast wireless networks, content delivery networks and compelling cloud-based applications is fomenting a revolution in consumer internet use. No
Recent world events have raised the importance of IT in energy policy. Even as rebellion in the middle east is reaffirming the precariousness of dependence on oil beyond ecological concerns, the Fukushima reactor crisis has reinvigorated opposition to nuclear power.
In the wake of the AT&T/T-Mobile bombshell and the CTIA wireless industry confab, the US telecommunications industry teems with controversy. The industry is pleading for new spectrum. The FCC is wrestling with Congress to gain approval for incentive auctions. AT&T
We are bearish for near-term IT spending, and concerned about the implications of the cloud for many vendors. Global government spending and Japan represent nearly 30% of the enterprise IT market, and both are likely to decline in the face
Assuming the sale of Deutsche Telekom’s US T-Mobile unit to AT&T can be approved by the FCC and DOJ, we see several far-reaching consequences for the TMT landscape beyond the obvious scale and spectrum benefits for AT&T, and the competitive
4G is the “great wireless hope” – the only possible challenger to cable industry dominance of residential broadband internet access. Detractors, including cable industry executives, have been quick to pooh-pooh the notion, suggesting that spectrum scarcity and the technical limitations
Internet advertising has grown at a better than 17% CAGR over the past decade to comprise 10% of the US market, or ~$24 in 2010. Comparatively, mobile advertising remains small – eMarketer estimates just $750M in mobile ads for 2010
Another month, another major industry event. While these things usually offer nothing particularly earth shattering – the main reason we decided not to foot the bill for a week in Barcelona this year – this week’s news flow filled
This morning, in an entirely telegraphed but still shockingly radical shift in strategy, new Nokia CEO Stephen Elop announced a comprehensive smartphone partnership with his former employer, Microsoft. Most observers have been justifiably critical of both erstwhile innovation leaders’ efforts
