Equity Strategies Group-Level Analysis Of The Equity Markets
Adding Deep Value—A Bet On “Growth At Reasonable Price”
Within Select Industries Portfolio, Diversified Financial Services equity group has been de-activated, and is being replaced by a screen-based quantitative theme called Deep Value. This is essentially a GARP type screen.
Adding Consumer Electronics
With new technology and products rolling out, electronic gadgets may be able to capture a growing share of the rebound in total consumer discretionary spending.
New Select Industries Position: Industrial Conglomerates
In late October, the Select Industries Portfolio added new positions in Industrial Conglomerates (6.6% of equity assets).
New Select Industries Position: Computer And Electronics Retail
In late October, the Select Industries Portfolio added new positions in Computer & Electronics Retail (4.1% of assets).
New Select Industries Position: Managed Health Care
In late October, the Select Industries Portfolio added new positions in Managed Health Care (5.2% of assets).
New Equity Portfolio Group Additions Build Foreign Exposure
New group purchase of Integrated Telecom stocks.
Two New Groups In Select Industries Portfolio
Two new equity groups added to Select Industries equity portfolio. Inclusion of Paper Products and Independent Power Producers pushes Materials and Utilities to small overweight positions.
New Group Holding In Diversified Financial Services
Establishing a new Select Industries equity holding in the Diversified Financial Services group as a 7.7% holding. This is first Financial sector exposure since August 2008, but the portfolio continues to be significantly underweight in this broad sector.
New Select Industries Position: Oil & Gas Drillers
Establishing new portfolio holding in Oil & Gas Drillers, which brings exposure up near market weight in Energy sector.
Bought The Airlines...Ready For Another Profitable Round Trip
Establishing new Select Industries equity portfolio holding in Airlines.
Education Services...New Position In Select Industries Portfolio
Establishing a new Select Industries Equity Portfolio holding in Education Services. The group was upgraded to Attractive this month, after seeing upgrades in four of seven categories.
Select Industries Groups: Buying Systems Software And Small / Micro Biotech
New Select Industries Portfolio equity group positions being established in Systems Software and Small/Micro Cap Biotech.
Home Improvement Retail Activated In Equity Portfolio
Building new portfolio holding in Home Improvement Retail. Our Consumer Discretionary holdings now overweight (versus S&P 500) with an 11% position our Select Industries Equity Portfolio.
Consumer Discretionary....Time To Buy?? Or Is The Devil In The Retails?
While many consumer groups are seeing significant improvement in the GS Scores, careful selection is important as there are still several Discretionary groups rated Unattractive.
Automotive Retail...Initiating A New 7% Portfolio Position
Adding a new equity group holding in Automotive Retail. This gives us about a market weight in the Consumer Discretionary sector, our most significant exposure in several years.
Booster Shot Of Health Care...Activating Pharmaceuticals & Health Care Facilities
Initiating new portfolio positions in Health Care Facilities and Pharmaceuticals. Former Generic Pharma portfolio holdings now being rolled into the broader Pharmaceuticals group.
Financials: Initial Target Satisfied....Now What?
In our equity portfolios we have avoided much of the Financial sector’s collapse, but unfortunately suffered a hit on the Regional Bank stocks over the past two months. The group faded to Neutral in our GS Scores this month and has been deactivated.
Buying Mega-Cap Technology Stocks
Doug Ramsey presents the rationale for our move into the Tech…Big Ten stock group.
Buying Oil & Gas Refiners
Initiating a new portfolio group holding in Oil & Gas Refining & Marketing group.
Buying REITs In Core And Asset Allocation Portfolios
Returning to REITs as an alternative to fixed income. Adding new 4% holding in both the Core and Asset Allocation Portfolios, with the focus exclusively on Residential and Health Care REITs. Weighted average yield of the new holding is about 5.7%.
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