Strategy Report
Capex: Fears Face Off Against Fundamentals
The capex debate is better framed not as boom versus bubble, but as around capacity, leverage, and cash conversion. ROEs have compressed, but revenue growth and margin expansion offer a credible path back. Spenders likely have time to make good on their investments, though the market’s leash may be shorter than anticipated.
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BCA Research | US Equity Strategy
The US Equity Strategy, led by Noah Weisberger, advises investors on how macro regimes, fundamentals, and market dynamics shape risk and opportunity across US equities.
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