Mr. Stig Myrseth is head of research at the nordic brokarage firm Orion Securities.
He’s been awarded as Norway‘s “Best Stock Picker” six years in a row.
In 2009 his recommended portfolio has gained about 140%, compared to the 45 & gain in the benchmark index at Oslo Stock Exchange.
“How productive are american companies? Extreme”, he writes. “Usually the productivity decrease under a resession because the reduction in production is falling faster than the employment rate. In this ressession, on the other hand, we’ve witnessed a miracle of productivity. While producuction has gone down by 3,5%, the employment by hour is down by as much as 7,5%, and as a consequence the productivity has increased by 4,5%“, Mr. Myrseth points out.
“The strong development in productivity, combined with the weaker dollar, explains another miracle; the surprisingly strong improvment in the companies reports the last two quaters.”
Here’s a copy of the original reseach note (Norwegian only).
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