Quarter-End Insights

Incoming administration could be a boon for infrastructure spending.

We believe most REITs will continue to pay dividends, making their increased yields attractive to investors.

Most financial stocks are trading above our fair value estimates.

Aside from auto and restaurant subindustries, the sector looks fully valued.

Look beyond the tech giants for hidden opportunities.

We don't expect major policy reforms now that the dust has settled on the elections.

We expect a nearly complete recovery in crude demand as the pandemic subsides in 2021.

Market seems focused on the rebound in online advertising demand.

We expect the incoming Biden administration to speed up investment in renewable energy.

Alcohol and tobacco still present the biggest opportunities.

We expect potash demand to grow over the next several years in basic materials.

A lot is riding on the coronavirus vaccine.

Our analysis of the fourth quarter in stocks and funds.

The broad equity market is trading at a 6% premium to our fair value estimates.

We forecast a strong long-run U.S. recovery.

We share some highlights from this quarter.

Although the market's largest names are pricey, we see several pockets of value.

Sector fundamentals remain strong and dividends keep growing.

Lithium demand took a hit as a result of the pandemic, but we expect it to rebound.

We expect demand to catch up in 2021 and 2022.

We're still fond of software and cybersecurity firms.

Some high-quality financial services firms are trading at decent discounts.

The aerospace, defense, and industrial distribution industries look undervalued.

A fourth of the real estate sector trades in 5-star territory.

We expect car and local travel to rebound before international and air travel.

We expect a coronavirus vaccine to be released within the next six months.

Several mega-cap stocks significantly overvalued.

Alcohol and tobacco stocks are trading at the greatest discounts to our fair value estimates.

Traditional media stocks still look the most attractive.

Our analysis of the third quarter in stocks and funds.

What to make of the April to June period.

We don't think the market's engaging in irrational exuberance.

Our analysis of the second quarter in stocks and funds.

Coronavirus had an effect on second-quarter earnings, but utilities' long-term outlook remains strong.

Decline in the demand for lithium should be short-lived.

Rebound has been uneven in the sector.

Consumers are slowly starting to travel and eat at restaurants again.

Tobacco and alcohol look attractive.

It's been rocky, but the worst is probably behind us.

Banks are the most undervalued subsector.

Changes to U.S. healthcare policy no longer a major fear.

Housing market has been a bright spot during the pandemic.

Pandemic could speed up the transition to cloud computing and remote working.

We expect malls, hotels, and healthcare subsectors to rebound.

A third of our North American coverage is undervalued compared with two thirds last quarter.

Our analysis of the first quarter in stocks and funds.

Finally, some buying opportunities in the sector.

Two thirds of the stocks in our North American coverage are undervalued, trading at 4 or 5 stars.

Compelling opportunities in building materials and agriculture firms, which are less exposed to macroeconomic headwinds.

Google's online dominance should be able to withstand any shocks.