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Breaking Down the Record Year in ETFs
Published January 6, 2021
Outlook 2021
Published December 17, 2020
LATEST RESEARCH
Industrials: A New Normal or Have We Been Here Before?
Published January 19, 2021
We think 2021 is the beginning of a new Industrial sector up-cycle supported by the beginning of recovery from Covid-19. The Purchasing Manager’s Index (PMI) is a valuable leading indicator for the state of an economy, even if it did not predict the Covid-19 driven recession in 2020.
Insurance: Commercial Lines Insurers – An Attractive Economic Recovery Play
Published January 19, 2021
Insurance claims from Covid-19 (estimated at $40-$100 billion) have accelerated and amplified a “turn” in the property-casualty underwriting cycle that was sparked by record catastrophe losses and social inflation. Despite price increases that averaged nearly 12% in the third quarter of 2020, revenue growth remains constrained by the Covid-19 induced recession.
MedTech: Stock Picks That Didn’t Work Out in 2020
Published January 11, 2021
Strong Sell-rated ALGN and Buy-rated BSX were two of our worst MedTech calls in 2020. Demand for ALGN’s clear aligners (i.e., Invisalign) proved to be much more resilient during the pandemic than we or any sell-side analysts had anticipated. Meanwhile, BSX was pressured by its high debt load, high exposure to medical procedure volumes, and weakness in its structural heart business.
EMEA Materials: 2021 to be Driven by Autos
Published January 11, 2021
The auto market is an important end-user for the EMEA materials industry, and the slowdown in 2020 has drastically impacted its financial performance.
Asia Consumer Electronics: Strong Demand Momentum Unlikely to Sustain
Published January 11, 2021
Sales of consumer electronics rose sharply in Sep-Q as consumers rush to improve quality of life at home amid increased time spent indoors due to the Covid-19 pandemic.
Through 2021 An Impressive ETF Lifecyle Continued in 2020
Published January 6, 2021
Nearly one in four of the 300-plus ETFs that launched in 2020 ended the year with more than $50 million in assets. The list includes Global X Telemedicine & Digital Health (EDOC), Invesco NASDAQ QQQ (QQQM), iShares ESG MSCI EM Leaders ETF (LDEM), and Xtrackers MSCI Kokusai ETF (KOKU) that earn high ratings from CFRA.
An Investor’s Guide to Bitcoin
Published December 21, 2020
This guide is for investors seeking to understand some of the basics about Bitcoin, particularly what it is, why it is important, and some ways to think about it as a potential investment. It assumes no prior knowledge of Bitcoin and seeks to provide a fair summary of why it may warrant a position in an investment portfolio or why it may not.
Energy: The New Normal for Refining Includes Renewable Diesel
Published December 21, 2020
A new Administration and a more urgent tone to climate change are putting wind in the sails for renewable diesel, in our view. Refiners are shifting some of their assets into renewable diesel—taking advantage of current regulatory incentives and making the economics comparable to petroleum, diesel.
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