Vermilion Int'l Compass: Global Equity Strategy
Today's report is international in title, global in coverage. Inside, after reviewing trends in EM, Europe, and Japan--EM looks great, by the way, especially Brazil--we highlight each MSCI ACWI sector, highlighting weighting recommendations, internal themes, and stock ideas. Top-down or bottom-up, there's actionable ideas here for everyone.• Consumer Discretionary. Market weight. The Sector is working through a swift recover, dating back to October. Internally, the auto theme is strengthening... see page 4
• Consumer Staples. Underweight. Defensive sectors continue to lag... see page 5
• Energy. Overweight. Energy is responding to crude's breakout from a 3-year base. Take advantage of widespread trend reversals within this sector... see page 6
• Financials. Overweight. Timely from a relative strength perspective. Banks are breaking out, from the U.S. and Latin America to Europe and China... see page 7
• Health Care. Underweight. Lagging from a sector perspective, but contains a sizable number of attractive individual charts... see page 8
• Industrials. Overweight. Breaking out from a 14-month relative strength base, industrials is a timely sector... see page 9
• Materials. Overweight. Materials is kicking off a renewed phase of leadership after last year's relative strength consolidation. Chemicals and metals look great... see page 10
• Technology. Overweight. No changes here -- tech's long-term leadership status remains intact. Semis continue to outperform, both the market and the tech sector... see page 11
• Utilities. Underweight. No signs of leadership here: the sector is breaking down to decade relative strength lows... see page 12
Vermilion Research delivers timely, actionable, and unique research inputs to professional investors. Our research strategists highlight securities which we believe are at major inflection points, based on our various proprietary technical indicators, and offer asymmetric risk/return profiles. We believe our research methodology, which is not limited by industry sector or market capitalization, enables us to deliver superior investment recommendations.
Our process begins by organizing all actively traded stocks into coherent sectors, then into logical industry groups. We then apply our proprietary relative strength tools to identify developing price trends. Once attractive trends are identified within a selected sectors or groups, we screen for individual stocks which we believe offer the best risk/reward profile. Vermilion offers U.S. and global equity market research products. Vermilion’s research team, which has received numerous awards and accolades, has a combined 70 year of experience in the analysis of investment securities.
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