Vermilion ETF Pathfinder: Actionable ETF research & Ideas

BIG PICTURE... see page 2-3 • Bullish big picture. Long-term trends still tell a bullish narrative. While we are seeing signs of short-term decay, most recently in financial stocks, the weight of the evidence, bolstered by foreign markets, points upward. • Equities > Treasuries & Commodities. Relative to Treasuries (TLT) and commodities (DBC), equities are rallying toward decade highs. We do not see signs of these trends reversing soon. Stay overweight equities. • SMid > Large Caps (ba...