January 19, 2021
The incoming Biden administration and Democrat–controlled Senate increases fiscal spending expectations, and adds conviction to our call for higher bond yields and curve steepening. As a result, we maintain our cyclical/value equity bias with an eye on deep-cyclicals. We share two of these names with Nicole Petallides.
December 14, 2020
There have been multiple short-lived rotations into value since 2009. None have lasted long, and it may be tempting to think the current rotation won’t have staying power either. Writing for US News, Andrew covers the events that contributed to eleven years of cyclical/value sector underperformance and makes the case why this time may be different. He also identifies three value stocks at fundamental inflection points
November 24, 2020
Speaking with Liz Claman on Fox Business News, Andrew shares two value sector stocks and one growth stock with incredible upside potential. The two also briefly discuss Biden’s Treasury Secretary nominee, Janet Yellen.
November 3, 2020
A Democrat ‘trifecta’ would probably lead to large-scale fiscal spending and rising bond yields, benefiting the financial sector. If Trump wins reelection, the GOP maintains its majority in the Senate and the House remains under Democratic control, investors are likely to forget about the prospect of higher tax rates and more business regulations, leading to immediate upside. However, overall markets prefer divided government.
October 16, 2020
Andrew identifies Apple suppliers that could benefit the most from sales of the newly released 5G iPhone. He also cautions Reuters’ Fred Katayama on a group of stocks to avoid.
October 5, 2020
Biden tax plan to have negative implications for US businesses, especially those with foreign subsidiaries. Higher corporate tax rates would be a slight headwind for S&P 500 earnings. The outlook for individuals and families is more complicated, and we provide an overview of potential changes and actions to deal with implications.
September 7, 2020
As economic data and vaccine optimism improve, expectations for tech companies are likely to rise and we are more likely to see tech names start to fall short of (already outsized) expectations. This domino effect could spur a rotation out of tech and into value cyclicals.
July 27, 2020
Speaking with Haidi Stroud-Watts, Andrew discusses the risk posed by US/China headlines and the current market impact of COVID-19.
July 26, 2020
Speaking with Doug Krizner and Paul Allen, Andrew discusses why US data momentum is the biggest driver for US equities, why the tech runup isn’t a bubble, and how gold fits into the current economic picture.
July 24, 2020
The fallout from COVID combined with increased anxiety around the upcoming election has retail investors hoarding cash and steering clear of the markets, in what’s considered a bullish contrarian signal. Apart from the election, Andrew discusses a few possibilities and their potential impact on markets.
July 17, 2020
Andrew discusses the equity risk premium and why equities are inexpensive relative to bonds. And why recent strength in cyclical/value sectors is unlikely to lead to rotation out of growth.
June 24, 2020
Tech names clearly benefit from COVID-19 disruption, specifically in a more rapid adoption of cloud computing. But in this segment we focus on Eli Lilly (LLY), our cleanest growth story in Pharma with a strong product pipeline and catalysts ahead.
June 8, 2020
The recent rally in equity markets has occurred despite weak overall economic activity and still bearish investor sentiment. The key factor is the rapid growth in money supply, which has created an unprecedented global liquidity boom to support markets in the face of extraordinary hurdles.
May 21, 2020
Low bond yields drive equity market and our move to ‘sustainable dividend yield’ names. We expect short term consolidation followed by higher levels in the SPX H1 2021 and economic recovery to 2019 levels by late 2021.
May 15, 2020
Speaking with Haidi Stroud-Watts on Bloomberg Daybreak Australia, Andrew discusses the outlook for oil prices and the potential for attractive investments in US Energy.
May 15, 2020
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Andrew mentions JSC’s focus on stocks he believes can maintain high dividend yields, especially within the pharmaceutical industry.
April 28, 2020
Lower for longer bond yields make bond-like equities an eventual substitute for frustrated income investors. Companies with sustainable dividend yields fit the bill. Andrew mentions a few names in particular while speaking on TD Ameritrade Network.
April 10, 2020
A strategy involving a loss limit rule may position you to maximize gains, limit more severe drawdowns during a bear market and drive tax-efficient investment returns.