I have been neutral on Ferrari NV (RACE, Financial) for some time. However, with momentum dwindling and the stock's valuation unjustifiable in my view, I am expecting to see the car company give back some of its gains in the second half of the year. It is a brilliant company, boasting strong brand recognition – perhaps unmatched across the world of motoring – and incredible margins. However, the company's growth is limited by its business model, which presents a trade-off between volume and margins. In this ...