Corey Tobin, partner, is a research analyst for William Blair’s U.S. growth and core equity strategies, focusing on U.S. small-cap technology companies. Corey also served as the team’s co-director of research from 2017 to 2022. Before rejoining William Blair in 2012, he was the senior vice president of healthcare solutions and corporate planning for Trustwave Holdings, Inc., a provider of data security and compliance solutions. In this role, Corey led Trustwave’s administrative and planning functions, such as its financial planning and analysis, human resources, sales operations, facilities, investor relations, and special projects areas. From 2001 through 2011, he served in William Blair’s sell-side research group, focusing on specialty software and healthcare IT companies; in this role Corey was recognized by the Wall Street Journal, the Financial Times, and Forbes. Before joining William Blair, he was an associate at private-equity firm Willis Stein & Partners, an analyst in the M&A investment banking group of Merrill Lynch (now Bank of America), and an associate in the financial advisory services practice at Coopers & Lybrand (now PricewaterhouseCoopers). Corey received a B.S. in business administration with high distinction from the University of Michigan; an M.B.A. from Northwestern University’s Kellogg Graduate School of Management; and an M.S. in computer science with recognition from the University of Chicago.
Cybercrime is one of the most daunting and fastest-evolving threats facing companies today. It also presents an opportunity for investors to capitalize on the growth of the next generation of leading cybersecurity providers. As companies...
In a previous post, I discussed the evolving IT security landscape. In part two of this series, I’ll discuss investment opportunities and how we evaluate IT security stocks. In my view, IT security stocks are...
Forward-thinking companies are increasingly using data to improve many aspects of their businesses. As malicious actors realize the value of this data, the need for enhanced IT security has dramatically increased, creating investment opportunities in...
Many large-cap companies are discussing their artificial intelligence initiatives. But we’re focused on identifying companies with rare datasets or that are uniquely positioned in an industry, which can create proprietary revenue streams and long-term investment...
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The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid ARM pass-throughs), asset-backed securities, and commercial mortgage backed securities.
The MSCI ACWI IMI Index is a free float-adjusted, market capitalization-weighted index that captures large, mid, and small cap representation across developed and emerging markets.
The MSCI ACWI ex-US IMI Index is a free float-adjusted, market capitalization-weighted index that captures large, mid, and small cap representation across developed and emerging markets, excluding the U.S. The Value and Growth Indices are a subset of the Index that adopt a framework for style segmentation in which value and growth securities are characterized using different attributes. Multiple factors are used to identify value and growth characteristics.
The MSCI ACWI Small Cap Index is a free float-adjusted, market capitalization-weighted index that captures small cap representation across developed and emerging markets.
The MSCI Emerging Markets Index is a free float-adjusted, market capitalization-weighted index that is designed to measure the equity market performance of emerging markets.
The MSCI World Index is a free float-adjusted, market capitalization-weighted index that is designed to measure the equity market performance of developed markets.
The Russell 2000 Index is a market capitalization-weighted index designed to represent the small cap segment of the U.S. equity universe.
Index performance is for illustrative purposes only. The indices are unmanaged, do not incur fees or expenses, and cannot be invested in directly.
TERMS Alpha is a measure of an investment’s return in excess of the market’s return, after both have been adjusted for risk.
Beta is a measure of the volatility of an investment relative to the overall market, represented by a comparable benchmark.
Half-life is a statistical measure of the time required for the discrepancy between price and value to contract by half of its starting value. Fundamental value estimates are based on the Dynamic Allocation Strategies team’s proprietary research.
P/E Ratio is a measure of valuation which compares share price to earnings per share, calculated using estimates for the next twelve months.
Standard deviation is a statistical measurement of variations from the average.
QUANTITATIVE MODELS – FACTOR DEFINITIONS The William Blair Earnings Trend Model captures information about short- and medium-term changes in analyst estimates in an attempt to anticipate future estimate changes and stock performance. The score combines measurements of earnings revisions, momentum, and earnings surprise.
The William Blair Valuation Model combines varying metrics used to characterize the relationship between the stock’s trading price and its intrinsic value. By going beyond using only one or two measures, the model attempts to build a more holistic version of a stock’s worth vis-a-vis the market. The score combines measurements of earnings/cash flow based, asset-based, and model-based factors.