Frequently Asked Questions
What is the Bottom-Up Economist (BUE) Report?
The BUE Report is designed to inform clients on the state of the economy and various industries from a "bottom-up" perspective, or the perspective of business operators rather than economists or financial commentators.
Our research is sourced from the financial reports and public commentary of over 500 public companies. We aggregate and analyze company disclosures to identify fundamental insights for professional investors. This unique approach to analysis can be useful in discerning economic or industry-specific trends before they are reflected in "top-down" government data - or become common knowledge to investors and financial media.
Is there a sample report I can download without subscribing?
Yes. All of the Bottom-Up Economist's research is freely available. You can also subscribe in the box to the right to receive new reports through email as soon as they are published.
How do your clients use the report?
Our subscribers have found this information useful in many ways:
-Fundamental investors use the report to augment their view of the economy and various industries, with implications for position sizing and portfolio positioning
-Macro investors use the report as an alternative data source to compare to traditional sources (such as government or market-related data)
-Many investors have told us they find reading the report just before meetings with clients and consultants highly useful for a quick refresher on typical economic talking points
-The BUE's audience also includes financial media companies, academic institutions, corporate communications consultants, corporate investor relations departments, and other third-party research providers
If you are a BUE subscriber and use the report for different purposes than listed above, please let us know. We aim to keep the report in a consistent format, but try to tailor it to accommodate its growing usage.
How else is the BUE Report useful?
The BUE Report is designed to cover the constantly changing state of economic conditions, but is created by former buy-side practitioners. As such, the report often takes time to point out when the results and commentary of corporate America are diverging from top-down government data or financial media reporting. Many use the report to discern what fundamental economic trends are "priced in" to various asset classes, and which ones aren't.
Also, given the research method for creating the report (reviewing hundreds of earnings reports and conference calls), the BUE Report also covers changes in corporate communication trends as they emerge.
How is the BUE Report organized?
The Bottom-Up Economist Report has three sections:
-The BUE "Tear Sheet" is a high-level, one-page executive summary covering the 3-4 most impactful topics, designed for a quick read prior to client or consultant meetings
-The Narrative section has 2-3 pages of text and charts summarizing the most important BUE research conclusions for the month
-The Industry section provides a more thorough analysis into each of the major segments of the economy