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Single Asset

US Equity Strategy

BCA Research's US Equity Portfolio construction service marries the macro with the micro and offers a unique equity sector allocation perspective, providing clients with a view that highlights sustainable trends.

Tools to forge your own view

  • Recommendations on 11 GICS1 sectors, 53 subsectors and size and style bias on a cyclical time horizon
  • Top-down macro models that support the U.S. equity sector recommendations
  • Client visits, conference calls and webcasts are part of the service and complement the daily and weekly publications
  • Innovative charts, presenting allocation advice, complement our unique, insightful and comprehensive U.S. sector analysis

“Earnings outperformance leads to equity outperformance and vice versa.”

Irene Tunkel Chief Strategist,

US Equity Strategy

How We Do It

  • Our philosophy is to forecast major trends by focusing on profits, allowing clients to capitalize on profit opportunities as well as preserve capital
  • USES leverages BCA Research's top-down macro research methodology and combines it with equity sector expertise. Our proprietary industry models and indicators underpin our investment recommendations
  • Our sector investment process includes three main inputs: sector earnings models, relative valuations and technical trends. The earnings models garner the most weight 60%, relative valuations 30% and relative technical conditions 10%
  • We do not live in a vacuum. Rather, we incorporate other BCA Research service views into our sector recommendation process like U.S. Bond and Commodity & Energy strategy views

Challenge your investment conviction with insights from US Equity Strategy

Explore our research

Some of what we have called

2017 SPX 3000

  • On July 10, 2017, we predicted the SPX 3000, when the S&P 500 was trading close to 2400 and 14 months later the SPX hit 2940 just shy of our target.

2017 Overweight Software

  • We remain overweight this key tech sub index and are up 20% vs. the index since inception on November 27, 2017. This is a secular call on software as SAAS and cloud computing in general and AI are not a fad.

2018 Underweight Homebuilders

  • We added alpha to our portfolio to the tune of 24% vs. the index since inception as we correctly warned investors that higher interest rates, rising lumber costs and the change in the mortgage deductibility of interest would weigh heavily on the industry's earnings in 2018.

2018 Overweight Railroads

  • This call returned 15% vs. the index since inception as it correctly captured an earnings-led advance in this key transportation sub index.

US Equity Strategy

Irene Tunkel

Chief Strategist

Irene is BCA Research’s Chief Strategist, US Equity Strategy. In this role, Irene is responsible for offering quantitative and fundamental approaches to BCA’s macroeconomic research. Prior to joining BCA Research, Irene served as senior macro strategist and portfolio manager at PGIM. Previously, she worked across buy-side and sell-side with leading asset managers including Prudential, JP Morgan, State Street and Citigroup Asset Management. Irene holds an MBA from MIT Sloan School of Management and a BA in Economics from Brandeis University. She also holds a CFA designation.

Irene Tunkel

Examples of our recent work

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