Highlights Portfolio Strategy Boeing’s 737 MAX grounding, China’s looming slowdown on the back of the coronavirus epidemic and weak industry operating metrics, all warrant a downgrade alert in the US aerospace index. Red…
Overweight Investors tend to overreact to events such as virus epidemics, but we deem that such fears typically create trading opportunities, especially in the hardest-hit sectors. Similar to hotels (that we upgraded to…
Overweight On January 3rd, the United States conducted a drone strike against two high-level targets near the Baghdad International Airport further fueling the tensions in the region. The US President has also warned that…
Feature The purpose of this Special Report is to identify and provoke a healthy debate on the prevailing investment themes for the 2020s and to speculate on what the key US sector beneficiaries and likely losers may be. Every decade a…
As 2019 draws to a close, we thank you for your ongoing readership and support. We wish you and your loved ones a happy holiday season and all the best for a healthy and prosperous 2020. Highlights We explore the principal risks to…
The recent attacks on Saudi’s Aramco’s oil producing and refining assets caused a major disruption in the oil industry initially removing ~ 5.7mm b/d of KSA’s output. While energy stocks are the direct…
Overweight, High-Conviction We reiterate our high-conviction overweight call on the BCA Defense Index as three key demand drivers remain upbeat and will continue to underpin relative industry profitability. First, the global arms race…
Cyber security remains a global threat and governments are serious about fighting it off decisively given the sensitivity of the data sought by cyber criminals. While defense stocks are not pure-play software outfits combating…