The investment team members at Pinnacle are connoisseurs of investment research. We read a vast variety of analysts and money managers, each having their own opinion about the economic cycle or their particular area of expertise. We have spent a decade finding those analysts who are clear in presenting their point of view, are well-known in the buy-side investment community, and are (hopefully) smarter than we are. However, as we have opined on many occasions, it is simply not possible to be in the business of venturing opinions about the financial markets without being wrong at one time or another. For that reason, most analysts make certain they caveat their thoughts about financial issues and at least make an effort to present the opposing view, if for no other reason that they don’t want to make a devastating mistake that could upset their reputation and their business. Everyone involved knows how to play this game. For Pinnacle, as the consumer who is willing to pay for the privilege of reading an analyst opinion, we subscribe to analysts and research firms that give the clearest possible forecast. We know how to sift through all of these opinions and add them to our own internal research as part of the “weight of the evidence” we use to formulate Pinnacle’s own investment view. If the analyst or research house we follow is too vague they inevitably get dropped from our research. And if they are clear and concise we applaud them, but also require that they are right more than they are wrong.