Overweight Sales departments in the S&P industrial machinery index have been exceptionally busy in the past several months as order bookings have been soaring with both domestic and global orders pouring in (second panel). With…
Overweight Last week saw some sad news as Hunter Harrison, the CEO of CSX and legendary railroad captain, passed away. While we are overweight the S&P railroads index, we did not upgrade when Mr. Harrison joined CSX and we will not…
Overweight The Stockholm International Peace Research Institute (SIPRI) released data earlier this week showing that global arms sales (as measured by the revenues of the largest 100 defense companies) had arrested their 6-year long…
With the Senate Republicans passing their version of the bill on December 2, the odds that a final version of the bill will pass into law are now very high, though investors remain skeptical that there will be any stimulative economic…
Overweight - High Conviction A key beneficiary of the synchronized global capex growth theme that we expect to dominate next year are machinery stocks. Not only are expectations for overall capital outlays as good as they get (…
Highlights Portfolio Strategy Synchronized global capex growth, a derivative of BCA's synchronized global growth thesis, will be a dominant theme next year, benefiting cyclicals over defensives. Three high-conviction calls are…