Industrials
Overweight Though it may be hard to see in the top panel of our chart amidst a spectacular long-term fall from grace, the S&P industrial conglomerates index has been outperforming for the past week. At first glance, much of the credit for this bounce…
Highlights Portfolio Strategy Higher interest rates, with the Federal Reserve tightening monetary policy three more times in the next seven months, will be the dominant theme next year. All four of our high-conviction underweight calls are levered to…
Airlines - Soaring…
Air Freight & Logistics: We Have Liftoff…
Overweight (High-conviction) Air freight & logistics stocks have been bouncing along the bottom for the better part of the past year and have formed a base that should serve as a launch board higher in the coming months. Energy costs comprise a large…
Feature Asset Allocation Amid Late-Cycle Turbulence BCA today published its 2019 Outlook, Late-Cycle Turbulence,1 our annual discussion with long-time clients Mr X and his daughter, Ms X. Recommendations…
Airlines: Up In The Air…
Up In The Air…
Dear Client, Next week on November 26th instead of our regular weekly publication you will receive our flagship publication “The Bank Credit Analyst” with our annual investment outlook. Our regular publication service will resume on December 3rd with our…
Overweight General Electric, the former heavyweight of the S&P industrial conglomerates index, found some reprieve Tuesday on the news that they had agreed to divest part of their investment in Baker Hughes as part of an overall asset sale effort…