While the Republican-led Congress continues the push to repeal the Affordable Care Act, we still see challenges in passing any new legislation.
It's getting harder to find undervalued stocks with so much optimism factored into stock prices.
The stock rally continued into 2017 as President Donald Trump took office, and the Fed hiked rates.
We think ACA repeal efforts are unlikely to lead to major legislative changes.
U.S. telecoms are working to diversify away from being pure wireless network providers.
Valuations in general are painting overly rosy scenarios, but we still see pockets of value in areas such as enterprise software and IT services.
GM, Johnson Controls, and Stericycle are our favorites.
Utilities stocks keep rewarding investors with attractive yields and growth, dispelling the long-held notion that rising interest rates will hurt sector returns.
Look to retail for opportunity within a fairly valued REIT sector.
The global financial sector is in the midst of financial advice moving toward a fiduciary-like standard and fees becoming more transparent.
Although growth remains sluggish, opportunities in consumer defensive stocks are still available for selective investors.
Rapid U.S. production growth is looming and puts the nascent oil price recovery at risk.
Many discretionary companies have benefited from positive sentiment following the U.S. presidential election, and some still have attractive margins of safety.
With shares propped up by unsustainable Chinese demand, basic materials stocks are trading at a whopping 44% premium to our estimate of intrinsic value.
Both the investment-grade and high-yield indexes are trading much tighter than their long-term historical averages.
Given general valuation levels, careful individual stock selection is more important now.
U.S. stocks ended 2016 on a high note as Trump’s election, a rate hike, and the OPEC production cut deal were eyed.
We don't see any major shifts in U.S. drug prices over the next several years, but we expect changes to the Affordable Care Act.
The utilities yield spread has turned much more bearish after bonds collapsed at the end of the year.
The force is with Salesforce, which is one of the most advantageously positioned companies in software.
To navigate the choppy waters ahead, keep it simple and focus on the fundamentals.
Sector fundamentals are unexciting and valuations are elevated, but a few names show promise.
Commodity price gains are likely to prove temporary as stimulus exacerbates China's underlying problems and sets the stage for lower long-term growth.
Improved near-term fundamentals come at a cost.
Investors' attentions are often focused on Fed actions, missing the larger picture.
Despite tepid near-term growth prospects amid an intensely competitive landscape, pockets of value remain.
Discretionary companies have benefited from decreased uncertainty post-election as consumer expectations are set with the new administration.
Global interest rates continued to climb as investors priced in expectations that the global economy is entering a reflationary environment.
Despite high hopes, we believe 1.9% GDP growth will prove closer to the mark in 2017.
Following the Trump victory, the market has incorporated expectations for stimulus, higher inflation, and higher interest rates.
Despite short-term headwinds, not many companies are trading at material discounts to our fair value estimates.
Overblown concerns over drug pricing in the U.S. are creating attractive valuations for the more innovative drug companies.
Our real estate outlook remains stable for now and operating fundamentals continue to be healthy, but risks are due to increase as markets get deeper into the cycle.
Utilities' dividend yields still look good, growth is on track, and balance sheets are strong, offering income investors hope that a potential sector collapse would be mild.
The tech sector looks overvalued overall, but investors can find some value in smartphone-related vendors and IT services leaders.
Cost-cutting remains a focus amid continued slowing growth, but the sector is overvalued on the whole.
This year's credit-fueled increase in Chinese fixed-asset investment will prove unsustainable.
We expect a medium-term oil price rally in 2018 but remain bearish on long-term oil prices.
Although the wide-moat firm is unlikely to grow book value like it did in the past, future returns should still come in solidly and consistently above the firm's cost of capital.
With macroeconomic stabilization, cost-efficiency efforts, improved inventory levels, and a relatively healthy consumer, we are optimistic about the sector.
Stocks continued to climb over the summer as worries over higher rates, emerging-markets, and commodities mostly faded.
The market overall looks slightly overvalued, with basic materials and energy the most overheated, and more value in healthcare and financial services.
After initial Brexit-induced volatility, corporate credit spreads resumed their tightening trend over the third quarter.
Stocks eked out gains amid market volatility, Fed-watching, and steep valuations.
Structural trends across apparel retail, e-commerce, and travel are being mispriced by the market.
The market overestimates the sustainability of recent commodity rallies, leaving the basic materials sector severely overvalued.
While the tech sector looks fairly valued to us, we see opportunities in smartphone- and cloud software-related vendors.
The glut in crude supply will take several more quarters to work through.
Consumer defensive names look rich, but a handful of firms remain undervalued.
The sector has outperformed in conjunction with several months of positive manufacturing and housing data, but we still see some compelling names.