A point of view, earned from the data.
Why we publish opinions at all.
Plenty of firms publish data and stop there, because a number is safe and a position is not. We think the more useful thing, and the harder one, is to say what the data means and what we'd do about it. A benchmark tells you where the market is. A perspective tells you where we think it's going and why that should change your next decision.
Every piece here is one argument, taken seriously and defended. We'd rather be clear and occasionally wrong than vague and never accountable. When we change our mind, we'll say that too.