Founded in 1990 by Charles Biderman, TrimTabs Investment Research is the leading independent institutional research firm focused on the supply and demand of shares of stock and money available for investment.
The firm’s key premise is that stock prices are a function of liquidity rather than value. Like the prices of any tradable good, the prices of stocks are driven by supply and demand.
TrimTabs publishes the research reports below. To receive further information or subscription information, please contact Michael Alexander, Director of Sales and Marketing, at Michael.Alexander@TrimTabs.com or +1 (707) 800-7061.
Weekly Liquidity Review – Sunday
This report offers the broadest overview of the supply and demand dynamics of the U.S. stock market. It provides detailed analysis of investment flows—including various proprietary indicators, exchange-traded fund flows, mutual fund flows, and hedge fund flows—as well as corporate actions that affect the float of shares outstanding—including cash takeovers, stock buybacks, new equity offerings, and insider trading. In addition, it covers key macroeconomic data. Unlike most Wall Street macro research, which focuses on analyzing government data releases, this report focuses squarely on consumers. TrimTabs uses a proprietary model based on real-time tax collections to compute wage and salary growth and employment growth. Finally, this report presents the latest market calls of the TrimTabs Demand Index Model Portfolio and the TrimTabs Sector Model Portfolio, which have solid long-term track records. It is written in an engaging, accessible style and includes plenty of data and graphs. It is a great introduction to TrimTabs research for new clients and is ideal for macro managers and equity fund managers. Weekly Liquidity Review
Overnight Liquidity Update – Monday through Thursday
This concise publication offers incisive commentary on the latest fund flows, corporate actions, and macroeconomic data. It filters out the noise and highlights what institutional investors need to know most from the wide range of data that TrimTabs tracks every day. This report is appropriate for more active traders. Overnight Liquidity Update
Weekly International Liquidity Review – Tuesday
This report analyzes equity market liquidity, fund flows, and macroeconomic trends in major European and Asian stock markets. Using data that is often not easily accessible to U.S.-based investors, it tracks the actions of companies, corporate insiders, and retail and institutional investors. Since sentiment is such an important driver of Asian stock markets, it pays particular attention to net foreign portfolio investment and the actions of retail investors in Asia. This report helps portfolio managers complement their fundamental analysis with supply and demand trends. Weekly International Liquidity Review
Weekly Flow Report – Wednesday
This report offers in-depth analysis of investment flows and assesses their impact on asset prices. It primarily analyzes the flows of mutual funds (daily survey of 5,700+ funds with assets of $1 trillion), ETFs (daily survey of 800+ ETFs with assets of $800 billion), hedge funds (monthly survey of 1,800 hedge funds with assets of $450 billion), and a wide range of sentiment indicators, including short interest, margin debt, commitments of futures traders, and retail and institutional investor sentiment. Each month, it presents TrimTabs’ estimates of hedge fund flows based on data from BarclayHedge as well as the results of TrimTabs’ hedge fund sentiment survey. Periodic topical studies suggest quantitative trading strategies based on flows. This report helps portfolio managers and active traders incorporate fund flows into their investment process. Weekly Flow Report
Daily Liquidity Report – Monday through Friday
This quantitative report, which is distributed as an Excel spreadsheet before the U.S. stock market close, provides a convenient summary of the most important TrimTabs liquidity data. It includes daily, monthly, and annual data on corporate actions, including insider trading; fund flows, including the flows of mutual funds and ETFs broken down by asset class, style, industry, and Morningstar category; and the TrimTabs Demand Index, a proprietary market timing indicator based on 21 flow and sentiment variables. This report is used primarily by quantitative analysts and active traders. Daily Liquidity Report