Overweight The S&P advertising index has finally caught a bid as Q4 earnings came in better than expected, driven by solid improvements in organic revenue growth. This is supported by industry pricing power which is in the midst of…

The S&P advertising index broke down after a tough Q2 earnings season that saw caution, particularly from consumer goods clients holding back advertising budgets. However, management teams maintained their full-year guidance with…

In recent months we have outlined and acted on the bull case for media by upgrading both the S&P cable & satellite and S&P movies & entertainment indexes. This week we added another sub-component to the overweight column…

Expectations of a prolonged period of abundant liquidity and rising confidence that recession is not imminent have created the conditions for a potential blow-off phase. This week we are fine-tuning our portfolio for peak performance…