Dr. Copper has gone ballistic of late, breaking out to multi-year highs. While there is an element of speculative fervor, global growth is ascending and China’s demand for commodities remains insatiable (top panel).…
Our macro view assumes a lower US dollar in the New Year. Our sister BCA Foreign Exchange service published a Strategy Report last week exploring a possible 1.50 print on EUR/USD. The bottom panel of the chart shows that…
Dear client, Instead of our regular Daily Sector Insight, tomorrow we will be sending you our sister’s Geopolitical Strategy service Weekly Report with a post mortem on the US election. On Monday our regular service resumes with a…
Highlights Long-term investors should seek companies and sectors that facilitate and support a new way of doing things: specifically, a way of life and business that is more de-centralised and de-urbanised… …and a way of…
Highlights Portfolio Strategy Softening operating metrics, the falling US dollar, the reopening of the economy, all suggest that investors should avoid hypermarket stocks. A firming macro backdrop, the USD’s recent drop, along…
Our recent bump of the S&P materials sector to overweight on July 27th pushed our cyclicals vs defensives positioning to the overweight column. Since then, this bent has netted our portfolio roughly 6% of returns. Similar to any…
Today we continue to highlight another reason we outlined in this Monday’s Special Report on why investors should favor cyclical over defensive equities on a 12-18 month time horizon. The latest GDP report made…
In this Monday’s Special Report we outlined 10 reasons why investors should favor cyclical over defensive equities on a 12-18 month time horizon. Not only does the debasing of the US dollar bode well for Income…