Sarah Godfrey
23 November 2017 · 2 min read

Edison clients win at the Investment Week Investment Company of the Year Awards

Special recognition for Foreign & Colonial IT on 150th anniversary

Investment company research clients of Edison picked up several of the honours at the Investment Week Investment Company of the Year Awards last night in London.

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Richard Windsor
22 November 2017

Sonos – Sounds of sameness pt. III.

Sonos has finally enabled Alexa voice control and Spotify support in its speaker systems thereby ensuring that it will now be competing purely on the quality of its hardware. The Sonos One is Sonos’ first voice-activated speaker which has received rave reviews for its sound quality, but very little else. This is because this device uses Amazon’s Alexa to control its functions and is adding support for streaming services like Spotify and Tidal with increasing regularity. While this is exactly what is required to sell speakers in this day and age, it is confirmation that Sonos has completely lost its mojo.

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Sanjeev Bahl
20 November 2017 · 3 min read

Ludicrous growth of the EV

Hit the ‘ludicrous mode’ setting on the Tesla model S P100D and you feel yourself being propelled from standstill to 60mph in a paltry 2.5 seconds – over 30% slower than Musk’s latest revelation, the Tesla Roadster. The Tesla Roadster boasts a range of over 600miles on a single charge, a top speed of 250mph in addition to neck straining acceleration.

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Richard Windsor
20 November 2017

Alibaba – Offline grab.

Alibaba is very different to Amazon

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Richard Windsor
17 November 2017

Google vs. Facebook – AI dividend.

Google’s AI already pays dividends

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16 November 2017

Android – Downward slope.

Fragmentation getting worse not better

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Richard Windsor
16 November 2017

Apple – Tick in the box.

Hacking of Face ID proves its security

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14 November 2017 · 3 min read

Valuations: An important part of the puzzle

Price/book multiples highlight worrying trend in risk appetite

In this cycle valuations have been, so far, the dog that did not bark. Globally, the median sector price/book multiple has risen from the trough of 2008 to a new peak. Such an expansion in market valuations is similar to that seen in the 1980-1987 period. Between 2012 and today we have come full circle in terms of tactical asset allocation. Earlier, we could not understand why investors were so uninterested in adding risk to portfolios despite such high expected returns in equities. Now, equity valuations suggest only modest long-term returns are on offer and there is greater prospect of short-term disappointment. It is however proving equally difficult to attract investors’ interest in this signal for caution. Perhaps the metaphorical - and silent - valuation dog knows the psychology of the current marginal investor rather too well.

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Richard Windsor
9 November 2017 · 3 min read

Tencent takes a 12% stake in Snap

Tencent is embarking on a circumnavigation of the Digital Life pie in order to build an ecosystem to challenge the established Google, Apple, Amazon, Facebook dominance of consumer digital services

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Richard Windsor
8 November 2017