DOCSLIB.ORG

Robotics, Automation, and AI: [email protected]

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Robotics, Automation, and AI: Rsparenblek@Williamblair.Com Equity Research Global Industrial Infrastructure | Multi-industry March 6, 2020 Industry Report Nicholas Heymann +1 212 237 2740 [email protected] Ross Sparenblek, CFA +1 212 237 2752 Robotics, Automation, and AI: [email protected] Explosion of New Markets Across Tanner James +1 212 237 2748 Broad Segments of the Economy [email protected] Please refer to important disclosures on pages 81 and 82. Analyst certification is on page 81. William Blair or an affiliate does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of this report. This report is not intended to provide personal investment advice. The opinions and recommendations here- in do not take into account individual client circumstances, objectives, or needs and are not intended as recommen- dations of particular securities, financial instruments, or strategies to particular clients. The recipient of this report must make its own independent decisions regarding any securities or financial instruments mentioned herein. William Blair Contents Investment Overview .........................................................................................................3 Risks ................................................................................................................................10 Defining RAAI Applications and Their Commercialization ............................................12 Rise of RAAI Applications from Factory Automation ......................................................16 From the Factory Floor to the Grocery Store ..................................................................35 Industrial Robots and Collaborative Robots (Cobots) ....................................................46 The Push Toward Adaptive Robotics ...............................................................................50 Robotic End-of-Arm Tooling ...........................................................................................55 Software for Robotic Piece-Picking ................................................................................59 Autonomous Robotic Software .......................................................................................62 Autonomous Mobile Robots and Guided Vehicles .........................................................65 Other Robotic Solutions ..................................................................................................74 - art, Arjun Bhatia, and Matt Pfau for their assistance in putting together this report. We would like to acknowledge Bhavan Suri, David Griffin, Jim Breen, Jon Anderson, Ralph Schack 2 Nicholas Heymann +1 212 237 2740 William Blair Investment Overview The migration of robotics, automation, and artificial intelligence (RAAI) technology outside the factory floor and into myriad new market applications began a decade ago but really accelerated 1.in theWhat last fivecaused years the beginning RAAI revolution? in about 2015. Dramatic Key insightsdeclines from in the this cost report and functionalityinclude: of critical sensors, along with the emergence of more standardized operating software, made applying - ingly feasible and economically compelling. Rising labor shortages spawned the emergence of RAAI technologies to new markets inside—but especially outside—the factory floor increas- ated new markets in which to deploy RAAI technologies, such as distribution warehouse auto- collaborative robots (cobots) in factories, while the accelerating shift to online retailing has cre mation. The advent of autonomous mobile robots (AMRs) has expanded the use of autonomous 2. Howguided are vehicles RAAI technologies (AGVs) to automate deployed? movement AMR functionality of products is controlledin both factories by increasingly and warehouses. standard- ized embedded operating software. AMR coordination is achieved by orchestration software that synchronizes the operation of multiple AMRs for product movement, order picking, and inven- tory replenishment. In factories, the speed of cobot operation was initially constrained by cobots’ lack of situational awareness to avoid injuring workers, but still enabled manufacturers to expand their production. The imminent introduction of advanced machine vision is expected to enable cobot speed to markedly increase without jeopardizing the safety of adjacent workers. 3. Key next RAAI-enabling technologies include 3-D vision and 5G wireless. The emergence of advanced machine vision is now on the cusp of creating a new generation of cobots that use cameras, LIDAR, and infrared sensors to enable faster but safe collaborative applications, - unleashing a new wave of productivity gains. Vision-guided robots (VGRs) are highly adapt able to dynamic operating environments by soon (late 2020/early 2021) combining safety- ablecertified precision 2-D and controlled 3-D vision movement. hardware Fullywith sophisticatedfunctional 5G software wireless andwith large nominal computing latency, power real- timeto process speed, immense and vastly quantities faster transmission of visual data rates in real will time. link Advanced robotic devices VGRs use with algorithms real-time to com en- puting to enable fully dynamic integrated performance functionality. When fully operational in technologies in unstructured environments such as outdoors. Currently, most commercially viableperhaps autonomous three to five RAAI years, technology 5G is expected applications to enable have broader occurred deployment in more of autonomousstructured indoor RAAI environments. Much like real-time wireless video streaming created the last buildout wave of localized micro-data centers to process the expected explosion in real-time data processing. cloud computing (often in remotely located data centers), 5G could spawn the emergence of 4. Critical RAAI hurdles and constraints that are likely to determine RAAI company end- game strategy. Once a new RAAI market has become commercially established and proved, the largest challenge for smaller private companies is the ability to fund aftermarket support infrastructure. We believe the elevated aftermarket support infrastructure investment is likely to result in most RAAI companies being acquired by private equity or larger established indus- trial companies with established aftermarket service networks rather than going public. 5. Key emerging new RAAI markets. Several new commercially viable applications of RAAI tech- manufacturing, distribution warehouse automation, autonomous robotic indoor security and nologies have been created over the past five years, including cobots and AGVs for automated guarding, automated online grocery order fulfillment, recycling automation, industrial and commercial AMR floor care, and AMR cleaning for hazardous industrial environments. Nicholas Heymann +1 212 237 2740 3 William Blair Exhibit 1 Robotics, Automation, and Artificial Intelligence (RAAI) New Derivative Industrial RAAI Markets Market Market Status 5-Year Market CAGR Distribution Warehouse Automation Established ~15%-20% Recycling Automation Accelerating ~10%-12% Cobots and AGVs for Automated Manufacturing Accelerating ~15%-20% Online Grocery Fulfillment Rapidly Emerging ~100%+ Guarding and Robotic Security Automation Emerging ~8%-10% Industrial and Commercial Floor Care AMRs Emerging ~20%-25% AMR Cleaning for Hazardous Industrial Environments Emerging ~8%-10% Automated Commercial Space Vehicle Construction Nascent ~5%-10% Source: William Blair estimates Potential Winners and Losers From Commercialization of RAAI Technologies A usual area of focus as new disruptive technologies emerge is whether software or hardware will emerge as the critical value driver and over time provide and capture the majority of the value cre- ated by the commercialization of new RAAI technologies. Currently, most developers of new prod- ucts, systems, and solutions using RAAI technologies have tended to internally develop their own operating software that they then combined with off-the-shelf, lower-cost components to create discrete robotic solutions. The current market focus is to develop fully functional but safe station- ary or mobile robotic devices that can operate autonomously. Low-cost LIDAR, infrared, and other sensors that enable autonomous operation have required core mobility functions to be processed Inonboard the future, because however, of the datadeployment lag (still of elevated fully functional latency) inherent5G cellular in allis currentexpected cloud to enable computing. autono- mous robots to process information on a real-time basis in highly unstructured or variable en- vironments. We anticipate this will create a next generation of devices that can operate in highly - cales. Fully functional 5G is expected to enable functions such as real-time data collection, object dynamic outdoor environments versus today’s primary focus on structured (typically indoor) lo- cally operate autonomously. Ultimately, the ability to dynamically capture and process data on a real-timeidentification, basis and is likely global to pathcreate planning a large increaseoptimization in the for coordinated a connected functionality set of devices for that multiple today types typi of real-time connected devices. We are aware of only one company, Brain Corporation, that has attempted to develop standard- ized operating software to enable autonomous mobile robotic operation of traditionally
Load more

Recommended publications
  • Assembly Automation with Evolutionary Nanorobots and Sensor-Based Control Applied to Nanomedicine
    IEEE Transactions on Nanotechnology, Vol. 2, no. 2, June 2003 82 Assembly Automation with Evolutionary Nanorobots and Sensor-Based Control applied to Nanomedicine Adriano Cavalcanti, Member, IEEE Germany only the Federal Ministry of Education and Research Abstract—The author presents a new approach within has announced 50 million Euros to be invested in the years advanced graphics simulations for the problem of nano-assembly 2002-2006 in research and development on nanotechnology automation and its application for medicine. The problem under [21]. More specifically the firm DisplaySearch predicts rapid study concentrates its main focus on nanorobot control design for assembly manipulation and the use of evolutionary competitive market growth from US$ 84 million today to $ 1.6 Billion in agents as a suitable way to warranty the robustness on the 2007 [20]. A first series of commercially nanoproducts has proposed model. Thereby the presented paper summarizes as well been announced also as foreseeable for 2007, and to reach this distinct aspects of some techniques required to achieve a goal of build organic electronics, firms are forming successful nano-planning system design and its simulation collaborations and alliances that bring together new visualization in real time. nanoproducts through the joint effort from companies such as IBM, Motorola, Philips Electronics, PARC, Xerox, Hewlett Index Terms—Biomedical computing, control systems, genetic algorithms, mobile robots, nanotechnology, virtual reality. Packard, Dow Chemical, Bell Laboratories, Intel Corp., just to quote a few ones [13], [20]. Building patterns and manipulating atoms with the use of I.INTRODUCTION Scanning Probe Microscope (SPM) such as Atomic Force he presented paper describe the design and simulation of Microscopy and Scanning Tunneling Microscopy has been Ta mobile nanorobot in atomic scales to perform used with satisfactory success as a promising approach for the biomolecular assembly manipulation for nanomedicine [12].
    [Show full text]
  • All In: Staying the Course on Our Commitment to Sustainability
    All In: Staying the Course on Our Commitment to Sustainability Amazon Sustainability • December 2020 • sustainability.aboutamazon.com Table of Contents Introduction: Our World in 2020 3 About 5 Environment 19 People 52 Governance 90 Our World in 2020 WHILE THIS REPORT reflects our work throughout 2019, the world has clearly undergone a massive shift in 2020 with the emergence of COVID-19. We are, first and foremost, focused on the safety of our employees and contractors around the world. It is important that we help our customers through this difficult time, and Amazonians are working around the clock to get necessary supplies delivered directly to the doorsteps of people and organizations who need them. Our Whole Foods Market stores have remained open, providing fresh food and other vital goods for customers. AMAZON EMPLOYEES RECEIVE comprehensive health benefits starting on day one of employment. We are working on building scalable testing for coronavirus. We’ve distributed face masks and implemented temperature checks at sites around the world to help protect employees and support staff, and offer free masks to our Whole Foods Market customers. We regularly sanitize door handles, stairway handrails, lockers, elevator buttons, and touch screens, and disinfectant wipes and hand sanitizer are standard across our network. We also introduced extensive social distancing measures to help protect our associates. In all, we have made over 150 significant process changes in our operations network and Whole Foods Market stores, which we audit frequently, to help teams stay healthy. DURING THIS CRISIS, we’ve added 175,000 new jobs to help meet customer demand for essential products.
    [Show full text]
  • Artificial Intelligence, Automation, and Work
    Artificial Intelligence, Automation, and Work The Economics of Artifi cial Intelligence National Bureau of Economic Research Conference Report The Economics of Artifi cial Intelligence: An Agenda Edited by Ajay Agrawal, Joshua Gans, and Avi Goldfarb The University of Chicago Press Chicago and London The University of Chicago Press, Chicago 60637 The University of Chicago Press, Ltd., London © 2019 by the National Bureau of Economic Research, Inc. All rights reserved. No part of this book may be used or reproduced in any manner whatsoever without written permission, except in the case of brief quotations in critical articles and reviews. For more information, contact the University of Chicago Press, 1427 E. 60th St., Chicago, IL 60637. Published 2019 Printed in the United States of America 28 27 26 25 24 23 22 21 20 19 1 2 3 4 5 ISBN-13: 978-0-226-61333-8 (cloth) ISBN-13: 978-0-226-61347-5 (e-book) DOI: https:// doi .org / 10 .7208 / chicago / 9780226613475 .001 .0001 Library of Congress Cataloging-in-Publication Data Names: Agrawal, Ajay, editor. | Gans, Joshua, 1968– editor. | Goldfarb, Avi, editor. Title: The economics of artifi cial intelligence : an agenda / Ajay Agrawal, Joshua Gans, and Avi Goldfarb, editors. Other titles: National Bureau of Economic Research conference report. Description: Chicago ; London : The University of Chicago Press, 2019. | Series: National Bureau of Economic Research conference report | Includes bibliographical references and index. Identifi ers: LCCN 2018037552 | ISBN 9780226613338 (cloth : alk. paper) | ISBN 9780226613475 (ebook) Subjects: LCSH: Artifi cial intelligence—Economic aspects. Classifi cation: LCC TA347.A78 E365 2019 | DDC 338.4/ 70063—dc23 LC record available at https:// lccn .loc .gov / 2018037552 ♾ This paper meets the requirements of ANSI/ NISO Z39.48-1992 (Permanence of Paper).
    [Show full text]
  • 投英 Tou Ying Tracker 2019
    In collaboration with 投英 Tou Ying Tracker 2019 The latest trends in Chinese investment in the UK Contents Section Page About the Grant Thornton Tou Ying Tracker 3 Introduction 4 The big picture – UK remains preferred destination for Chinese investors 7 Focus on M&A and development capital deals 12 Tou Ying Tracker 2019: the largest Chinese companies in the UK 15 2019 Tou Ying 30: this year’s fastest-growing Chinese companies 17 Get ready to invest in the UK 23 Appendix A – Chinese M&A and development capital investment into the UK in 2019 25 投英 Tou Ying Tracker 2019 About the Grant Thornton 投英 Tou Ying Tracker Our 2019 Tou Ying Tracker, developed in collaboration with Of this population of 800, we then analysed those companies China Daily, identifies the largest Chinese companies in the with a turnover of £5 million or more in both of their last two UK, while the Tou Ying 30 (TY30) identifies the fastest-growing financial years in order to produce the 2019 TY30 list of fastest- companies as measured by percentage revenue growth in the growing Chinese companies in the UK. last year. We would also like to recognise the contribution to the UK To compile the 2019 Tou Ying Tracker, we started by identifying economy of the estimated 13,000 Chinese-owned companies all Chinese-owned companies that have filed an audited and 100 representative offices that fall outside the criteria for revenue figure at Companies House in at least one of the last inclusion in the Tou Ying Tracker.
    [Show full text]
  • Kion Group Ag 2016 [Pdf, 1.4
    A NEW ERA This annual report is available in German and English. Only the content of the German version is authoritative. KION GROUP AG, Wiesbaden STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2016 € Notes 31/12/2016 31/12/2015 A. Non-Current Assets (3) Property, plant and equipment 145,428.39 216,259.58 Investments in affiliated companies 4,474,412,891.16 2,005,932,650.00 4,474,558,319.55 2,006,148,909.58 B. Current Assets I. Receivables and other assets (4) 1. Receivables from affiliated companies 965,752,435.23 243,601,512.08 2. Receivables from related companies 174,664.14 0.00 3. Other assets 8,119,209.80 5,205,087.06 974,046,309.17 248,806,599.14 II. Credit balances with banks 56,715,095.93 12,203.61 Total assets 5,505,319,724.65 2,254,967,712.33 € Notes 31/12/2016 31/12/2015 A. Equity (5) I. Subscribed capital 108,790,000.00 98,900,000.00 Treasury shares -164,486.00 -160,050.00 Issued capital 108,625,514.00 98,739,950.00 II. Capital reserves 2,465,553,486.47 2,015,727,529.03 III. Retained earnings 139,053,326.98 9,903,326.98 IV. Distributable profit 129,236,004.00 76,100,000.00 2,842,468,331.45 2,200,470,806.01 B. Provisions 1. Retirement benefit obligation (6) 20,319,088.00 13,515,388.00 2. Tax provisions 4,138,079.75 54.49 3.
    [Show full text]
  • Hikvision 2015 Annual Report
    2015 Annual Report HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. 2015 Annual Report SECURITIES ABBREVIATION: HIKVISION SECURITIES CODE：002415.SZ April 2016 1 2015 Annual Report To Shareholders In 2015, the global security industry was still rapidly upgrading products, involving new technology and product development. The market shares of Chinese security enterprises are further increasing in the global market. Under the circumstances of global macroeconomic volatility and domestic economy downturn, the Company achieved a rapid growth of 46.6% increase in revenue and 25.8% increase in net profits, compared with previous year’s operating results. Since the establishment of the Company, we have maintained a growth over 20% annually in revenue and net profits over the past 13 consecutive years, and a quarter-over-quarter increase in both revenue and net profits. It is known to us that the development of the Company is our long term objective, which means that we need to consider both short-term profits and long-term development and keep a good balance among revenue, profits and operation capabilities. We are firmly committed to the client-centered business philosophy, to create value for clients, and to bring long-term investment returns to our shareholders. We have complete confidence in the Company’s future development. Our confidence is based on our customers’ demands and trust, our commitment to the Company’s original management principle and concept, as well as all the supports received from our shareholders. It is a milestone in the development of the Company that Management Measures for Core Staff’s Investment in Innovative Business（《核心员工跟投创新业务管理办法》）has been approved by the shareholders’ meeting.
    [Show full text]
  • Research Brochure
    CVPR 2020 amazon.science/CVPR Day 1 When Amazon.com launched in 1995, it was with the mission “to be Earth’s most customer-centric company.” What does this mean? It's simple. We're a company that obsesses over our customers. Our actions, goals, projects, programs and inventions begin and end with the customer top of mind. In other words, we start with the customer and work backwards. When we hit on something that is really working for customers, we double-down on it with hopes to turn it into an even bigger success. 1/3 kindle 5 Come build the future with us. Global research locations Aachen Bengaluru Culver City Haifa Atlanta Berkeley Cupertino Hyderabad Arlington Berlin Dublin Irvine Austin Boston Edinburgh London Barcelona Cambridge Gdansk Luxembourg Bellevue Chennai Graz Manhattan Beach Pittsburgh Shanghai Tübingen New York San Diego Sunnyvale Turin Newark San Francisco Sydney Vancouver North Reading Santa Clara Tel Aviv Westborough Palo Alto Santa Monica Tokyo Pasadena Seattle Toronto Teams that create our next innovations Alexa | Berlin, Boston, Cambridge, Gdansk, New York, Seattle, Sunnyvale, Turin, Vancouver Alexa is the cloud-based intelligent agent that powers Echo and other devices designed around voice. We are a team of scientists and engineers creating the technology behind Alexa. Our mission is to push the envelope in AI, NLU, ML, Dialogue Management, ASR, TTS and Audio Signal Processing in order to provide the best experience for our customers. Amazon Go | Boston, Haifa, Seattle Amazon Go is a new kind of store with no lines and no checkout - you just grab and go! Customers simply use the Amazon Go app to enter the store, take what they want and go.
    [Show full text]
  • Retirement Strategy Fund 2060 Description Plan 3S DCP & JRA
    Retirement Strategy Fund 2060 June 30, 2020 Note: Numbers may not always add up due to rounding. % Invested For Each Plan Description Plan 3s DCP & JRA ACTIVIA PROPERTIES INC REIT 0.0137% 0.0137% AEON REIT INVESTMENT CORP REIT 0.0195% 0.0195% ALEXANDER + BALDWIN INC REIT 0.0118% 0.0118% ALEXANDRIA REAL ESTATE EQUIT REIT USD.01 0.0585% 0.0585% ALLIANCEBERNSTEIN GOVT STIF SSC FUND 64BA AGIS 587 0.0329% 0.0329% ALLIED PROPERTIES REAL ESTAT REIT 0.0219% 0.0219% AMERICAN CAMPUS COMMUNITIES REIT USD.01 0.0277% 0.0277% AMERICAN HOMES 4 RENT A REIT USD.01 0.0396% 0.0396% AMERICOLD REALTY TRUST REIT USD.01 0.0427% 0.0427% ARMADA HOFFLER PROPERTIES IN REIT USD.01 0.0124% 0.0124% AROUNDTOWN SA COMMON STOCK EUR.01 0.0248% 0.0248% ASSURA PLC REIT GBP.1 0.0319% 0.0319% AUSTRALIAN DOLLAR 0.0061% 0.0061% AZRIELI GROUP LTD COMMON STOCK ILS.1 0.0101% 0.0101% BLUEROCK RESIDENTIAL GROWTH REIT USD.01 0.0102% 0.0102% BOSTON PROPERTIES INC REIT USD.01 0.0580% 0.0580% BRAZILIAN REAL 0.0000% 0.0000% BRIXMOR PROPERTY GROUP INC REIT USD.01 0.0418% 0.0418% CA IMMOBILIEN ANLAGEN AG COMMON STOCK 0.0191% 0.0191% CAMDEN PROPERTY TRUST REIT USD.01 0.0394% 0.0394% CANADIAN DOLLAR 0.0005% 0.0005% CAPITALAND COMMERCIAL TRUST REIT 0.0228% 0.0228% CIFI HOLDINGS GROUP CO LTD COMMON STOCK HKD.1 0.0105% 0.0105% CITY DEVELOPMENTS LTD COMMON STOCK 0.0129% 0.0129% CK ASSET HOLDINGS LTD COMMON STOCK HKD1.0 0.0378% 0.0378% COMFORIA RESIDENTIAL REIT IN REIT 0.0328% 0.0328% COUSINS PROPERTIES INC REIT USD1.0 0.0403% 0.0403% CUBESMART REIT USD.01 0.0359% 0.0359% DAIWA OFFICE INVESTMENT
    [Show full text]
  • The Fair Labor Standards Act of 1938, As Amended
    The Fair LaboR Standards Act Of 1938, As Amended U.S. DepaRtment of LaboR Wage and Hour Division WH Publication 1318 Revised May 2011 material contained in this publication is in the public domain and may be reproduced fully or partially, without permission of the Federal Government. Source credit is requested but not required. Permission is required only to reproduce any copyrighted material contained herein. This material may be contained in an alternative Format (Large Print, Braille, or Diskette), upon request by calling: (202) 693-0675. Toll-free help line: 1-866-187-9243 (1-866-4-USWAGE) TTY TDD* phone: 1-877-889-5627 *Telecommunications Device for the Deaf. Internet: www.wagehour.dol.gov The Fair Labor Standards Act of 1938, as amended 29 U.S.C. 201, et seq. To Provide for the establishment of fair labor standards in emPloyments in and affecting interstate commerce, and for other Purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the “Fair Labor Standards Act of 1938”. § 201. Short title This chapter may be cited as the “Fair Labor Standards Act of 1938”. § 202. Congressional finding and declaration of Policy (a) The Congress finds that the existence, in industries engaged in commerce or in the Production of goods for commerce, of labor conditions detrimental to the maintenance of the minimum standard of living necessary for health, efficiency, and general well-being of workers (1) causes commerce and the channels and instrumentalities of commerce to be used to sPread and Perpetuate such labor conditions among the workers of the several States; (2) burdens commerce and the free flow of goods in commerce; (3) constitutes an unfair method of competition in commerce; (4) leads to labor disputes burdening and obstructing commerce and the free flow of goods in commerce; and (5) interferes with the orderly and fair marketing of goods in commerce.
    [Show full text]
  • Dark Rides and the Evolution of Immersive Media
    Journal of Themed Experience and Attractions Studies Volume 1 Issue 1 Article 6 January 2018 Dark rides and the evolution of immersive media Joel Zika Deakin University, [email protected] Part of the Environmental Design Commons, Interactive Arts Commons, and the Theatre and Performance Studies Commons Find similar works at: https://stars.library.ucf.edu/jteas University of Central Florida Libraries http://library.ucf.edu This Article is brought to you for free and open access by STARS. It has been accepted for inclusion in Journal of Themed Experience and Attractions Studies by an authorized editor of STARS. For more information, please contact [email protected]. Recommended Citation Zika, Joel (2018) "Dark rides and the evolution of immersive media," Journal of Themed Experience and Attractions Studies: Vol. 1 : Iss. 1 , Article 6. Available at: https://stars.library.ucf.edu/jteas/vol1/iss1/6 Journal of Themed Experience and Attractions Studies 1.1 (2018) 54–60 Themed Experience and Attractions Academic Symposium 2018 Dark rides and the evolution of immersive media Joel Zika* Deakin University, 221 Burwood Hwy, Burwood VIC, Melbourne, 3125, Australia Abstract The dark ride is a format of immersive media that originated in the amusement parks of the USA in the early 20th century. Whilst their numbers have decreased, classic rides from the 1930s to the 70s, such as the Ghost Train and Haunted House experiences have been referenced is films, games and novels of the digital era. Although the format is well known, it is not well defined. There are no dedicated publications on the topic and its links to other media discourses are sparsely documented.
    [Show full text]
  • With Whalewisdom You Can Invest Like Your Research Budget Is $70 Million. Hedge Funds Are Very Secretive. That's Why It Was Su
    With WhaleWisdom you can invest like your research budget is $70 million. Hedge funds are very secretive. That’s why it was surprising that in a 2015 letter to shareholders, a $10 billion hedge fund revealed its investment research budget for the year. The amount? $70 million. That’s right, the fund spent $70 million that year finding the best investment ideas in the word. How much did you spend in 2015 researching investments? Did the firm pay 70 world-class analysts $1 million apiece to scour the globe for ideas? Did it spend millions crunching “Big Data”? Did the manager send the brightest minds money can buy to meet face-to-face with cutting-edge companies? However it spent its research millions, it appears to have paid off. The firm -- Coatue Management, led by “Tiger Cub” Philippe Laffont -- has had stellar performance. The fund returned 30.32% in 2016, and has had an annualized return over the last three years of 18.48%. And that’s after 2% management and 20% performance fees. Want to place some money with Coatue management? Got 10 million bucks to invest? That might be enough to get you in the door. But don’t count on it -- most of the top performing hedge funds have been closed to new investors for years. So you’re probably out of luck. But maybe not. What if I told you there is a “back-door” way to replicate Coatue performance without placing money with the hedge fund? What if you could see the stocks Coatue was buying and selling and replicate the firm’s investment process? What if there is a way to benefit from the tens of millions worth of research carried out by hedge funds like Coatue? With WhaleWisdom, an investor can replicate the portfolios of the most profitable “Whales” -- huge investors with stellar track records.
    [Show full text]
  • QI Wireless Compatible Device List Apple Asus Blackberry CASIO
    QI Wireless Compatible Device List Apple • iPhone 8 • iPhone 8 Plus • iPhone X • iPhone Xs • iPhone Xs Max • iPhone Xr Asus • Asus PadFone S BlackBerry • BlackBerry Passport • BlackBerry PRIV • BlackBerry Z30 CASIO • CASIO G'z One Commando Caterpillar • Cat S50 • Cat S50C DeWalt • Dewalt MD501 • Dewalt MIL810G Energy Sistem • Energy Phone Pro Qi Fujitsu • Fujitsu Arrows F-09D • Fujitsu Arrows Kiss F-03D • Fujitsu Arrows Kiss F-03E • Fujitsu Arrows X F-10D Google • Google Nexus 4 • Google Nexus 5 • Google Nexus 6 • Google Pixel 3 • Google Pixel 3 XL HP • HP Elite X3 HTC • HTC Droid DNA • HTC Windows Phone 8X Huawei • Huawei Mate20 Pro • Huawei Mate RS Porsche Design • Huawei P30 Pro Kyocera • Kyocera Brigadier • Kyocera DuraForce • Kyocera Hydro Elite • Kyocera Torque G02 • Kyocera Torque KC-S701 • Kyocera Urbano L01 • Kyocera Urbano L03 LG • LG G2 • LG G3 • LG G6 ¹ • LG G6 Plus ¹ • LG G7 • LG G7 ThinQ • LG Lucid 2 • LG Lucid 3 • LG Optimus F5 • LG Optimus G Pro • LG Optimus It L-05E • LG Spectrum 2 • LG Vu 2 • LG Vu 3 • LG V30 • LG V30 Plus • LG V40 ThinQ M.T.T. • M.T.T. Master 4G Meizu • Meizu Zero Microsoft • Microsoft Lumia 950 • Microsoft Lumia 950 Dual Sim • Microsoft Lumia 950 XL • Microsoft Lumia 950 XL Dual Sim Mlais • Mlais MX69W Motorola • Motorola Droid Maxx • Motorola Droid Mini • Motorola Droid Turbo • Motorola Droid Turbo 2 • Motorola Moto Maxx • Motorola Moto X Force mPhone • mPhone 8 NEC • NEC Medias PP N-01D • NEC Medias X N-04E Noa • Noa F10 Pro Nokia • Nokia Lumia 1520 • Nokia Lumia 735 • Nokia Lumia 830 • Nokia Lumia
    [Show full text]