Lululemon is losing some of its shine in North America, and new rivals are stealing “cool,” but the business still throws off a lot of cash and keeps growing fast overseas. With a new leader on the way and activists pushing for change, the key question is whether this is a fixable slump—or the start of something permanent.Read more

TLDR; "HOLD" The story of Adobe today is that of a wide-moat champion that has been knocked from its pedestal. After a deep-dive analysis, our conclusion is that Adobe remains a world-class business, but the competitive landscape has fundamentally changed.Read more