All Posts By

melius

Research Report
January 5, 2021

This Decade Will be Better than the Last: A Case for Sustained Outperformance

By: Rob Wertheimer  Looking at relative performance of cyclical industrials can be startling. There’s a chart…
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Research Report
December 22, 2020

Lessons Relearned on Cycle Management

By: Rob Wertheimer  2020 was the third major downcycle we’ve seen in 15 years of…
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Research Report
December 21, 2020

Melius Macro Views: Few Signs of Industrial Recovery Slowing

By: Scott Davis Rising COVID cases have had very limited impact on the industrial recovery so…
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Research Report
November 20, 2020

Commercial Aerospace: Sentiment Flipping to Positive

By: Carter Copeland We’ve been chronicling the evolution of aerospace investor sentiment throughout the COVID-19…
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Research Report
November 13, 2020

Ag Cycle: A Few Thoughts on Trends and Cycle Levels, Amidst Rising Expectations

By: Rob Wertheimer  There’s been a lot of positive news on the ag cycle in…
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Research Report
November 2, 2020

Industrial 3Q20 Earnings: What We’ve Learned

By: Scott Davis Overall, results this quarter have contained few surprises and almost every company…
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Research Report
October 16, 2020

OTIS: From Great to Good and Back Again

By: Carter Copeland We’re initiating coverage of Otis with a Buy rating and a $83…
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Research Report
October 6, 2020

Defense Budgets and the Election

By: Carter Copeland Historical data on partisan control is not conclusive for the direction of…
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Research Report
September 29, 2020

Acquisitions as a Process at Ametek

By: Rob Wertheimer  Industrial M&A took eight years to reach its prior peak after the…
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Research Report
September 29, 2020

Post-Pandemic Industrial Investment Case

By: Scott Davis As an overall sector, Industrials has not captured much attention by portfolio…
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