Monthly Archives: December 2018

Monopoly Power is Concentrating Public Markets

Four firms control 98% of the cell phone market, four companies have cornered 92% of the peanut butter market, four airlines hold 73% of their industry market share, and three firms make up 89% of the social networking industry.1 There’s similar concentration across a wide variety of industries, from pet food to pharmacies to beer. What does it mean when industries become this concentrated, dominated by a few giants? Read more »

Technology and Transformation: Investment trends to watch for in 2019 – the Podcast

Listen to co-CIO Bryan Shipley, CFA, CAIA and investment advisor Kate Deines as they dive deeper into the discussion about Arnerich Massena’s 2019 investment trends to watch for. In this podcast, they’ll discuss the accelerated changes in technology that will color the investment landscape of 2019, as well as some of the transformational trends, like Opportunity Zones and impact investing, that will play an equally important role next year. Read more »

Technology and Transformation: Investment Trends to Watch For in 2019

In 2018, amid denuclearization talks with North Korea and a trade war with China, mid-term elections, spreading cannabis legalization, U.S. withdrawal from the Iran nuclear agreement and the United Nations Human Rights Council, and historic wildfires in California, we saw the first company reach the trillion-dollar valuation mark — that was Apple in August, soon followed by Amazon. The market seemed unstoppable for most of 2018, in spite of volatile world events and a creeping divisiveness at home. We saw the continued rise of the FAANG stocks (Facebook, Apple, Amazon, Netflix, and Google), as they each grew larger than many countries’ entire stock markets, only to see an ensuing fall as investors began to question the ability to maintain their lofty growth trajectories (and avoid regulation). Read more »