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Google: Undervalued With A Rosy Outlook After Q2 (Archive)

Google’s resilient search, real cloud margins, and disciplined capital allocation drive compelling upside.

Microsoft: Business Gets Better But Watch The Valuations (Archive)

Strong business momentum, but elevated valuations warrant a patient, neutral stance on Microsoft.

Charles Schwab: Get Ready For Multiple Quarters Of Margin Expansion (Archive)

Margin tailwinds and cost savings set Schwab up for sustained earnings and valuation upside.

Tesla: Margins Story Is Not As Bad As It Seems (Archive)

Pricing resets have masked genuine structural margin tailwinds now starting to emerge.

Berkshire Hathaway: Look At Consumers And Cash Flows (Archive)

Berkshire’s consumers face tailwinds, but weakening cash flows keep me neutral.

Ares Capital: Rising Rates Make Up For Activity Slowdown (Archive)

Rising rates turbocharge ARCC’s floating-rate portfolio despite a sluggish deal pipeline.

Charles Schwab: Get Ready For Multiple Quarters Of Margin Expansion (Archive)

Multiple levers position Schwab for sustained net interest margin and earnings expansion.