Quarter-End Insights

Our market commentary covers the lasting impact of the Trump Administration’s trade policies, the rise of SPACs, and more.

Our analysis of the first quarter in stocks and funds.

Most of the sector is fairly valued.

We expect the U.S. to increase spending on missiles, missile defense, and space militarization.

Sector trades at a 4% premium to our fair value estimates.

Software is the most appealing subsector.

We're keeping an eye on online grocery shopping.

Consumer cyclical stocks are overvalued.

We don't expect any major changes to U.S. healthcare policy.

Strong fundamentals should allow the sector to continue producing positive returns even as interest rates climb.

Opportunities in green hydrogen could benefit industrial gas companies.

The giants still have an edge in this rapidly changing market, though.

Even after the rally, the sector is undervalued, with the average stock trading at a 9% discount.

The broad equity market is trading at a 3% premium to our fair value estimates.

Consumers are ready to spend.

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.

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.

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.

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.

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

Rebound has been uneven in the sector.