BCA Research is proud to announce a new feature to help clients get the most out of our research: an Executive Summary cover page on each of the BCA Research Reports. We created these summaries to help you quickly capture the main points…
Overweight The juggernaut trend in the US software & services industry is as strong as ever, and today we are reiterating our overweight call for this large sector. First, within the context of our recent…
Overweight Our long-held view that digitalization of the economy is still in the early innings remains intact, and hence we reiterate our cyclical (and structural) preference for software companies. The recent pullback in the…
While the Fed’s dots dovishly surprised, the FOMC’s output and inflation projections were on the hawkish side. Adding the committee’s core PCE price inflation estimate for 2021 to their real GDP forecast results in a…
Overweight We remain on the sidelines with regard to the broad S&P technology sector, but we continue to recommend a barbell portfolio approach preferring defensive software and services stocks to aggressive hardware and…
Dear client, Next week instead of our regular Strategy Report we will be sending you a Special Report from BCA’s Equity Analyzer service on Inflation and Factor investing penned by my colleague Lucas Laskey, Senior Quantitative…
Software stocks have been on a tear. This defensive-tech index has bested the SPX by 34% year-to-date, and in absolute terms is up a whopping 45%. While such a breakneck pace is clearly unsustainable, and a short-term breather…
Highlights The economic performance of Sweden, which did not have a lockdown, has been almost as bad as Denmark, which did have a lockdown. This proves that the current recession is not ‘man-made’, it is ‘pandemic-…
Overweight While we are neutral the S&P tech sector, we continue to employ a defensive over aggressive tech strategy and prefer software and services to hardware and equipment. The S&P software index in particular has…
Overweight We recently monetized over 50% relative gains in our overweight S&P software portfolio position by temporary going to neutral, but we are compelled to lift this heavyweight tech sub-index back to an overweight…