Railroads
Cyclical Wounds Remain Open…
Avoid Getting Railroaded…
Rail Shipments Are Still Falling…
Rail Shipments Are Still Falling…
Get Off The Rails
Get Off…
Highlights Portfolio Strategy Corporate sector selling price inflation is nil while leading wage inflation indicators signal additional labor cost increases in the coming months. The risk is that profit margins have already peaked for the cycle. We reiterate our tactically cautious overall…
Pricing Power Is Derailing…
Get Off The Rails
Get…
Neutral We have been riding the rails juggernaut for roughly 16 months, but the time has come to get off board. As shown in the chart at the side, technical conditions are overbought and relative valuations are pricey, hovering near previous extremes as investors are extrapolating good times…
Time To Get Off The Rails…