Portfolio Compass | October 17, 2018

Compass Changes Downgrading view of small and mid cap growth from neutral/positive to neutral. Our Communication Services view is neutral, compared with prior telecom view of negative/neutral. Upgrading our view of investment-grade corporates from neutral to...

Portfolio Compass | September 19, 2018

COMPASS CHANGES No changes. INVESTMENT TAKEAWAYS We expect double-digit S&P 500 returns in 2018 (including dividends), driven by earnings growth potentially in the mid-to-high teens in 2018 thanks to a combination of steady economic growth, better corporate...

Portfolio Compass | August 15, 2018

COMPASS CHANGES No changes. INVESTMENT TAKEAWAYS We expect double-digit S&P 500 returns in 2018 (including dividends), driven by earnings growth potentially in the mid-to-high teens in 2018 thanks to a combination of steady economic growth, better corporate...

Portfolio Compass | July 19, 2018

COMPASS CHANGES Downgraded large/small foreign equities to negative/neutral from neutral. Downgraded industrial metals to neutral from neutral/positive. Downgraded agriculture to negative/neutral from neutral. INVESTMENT TAKEAWAYS We expect double-digit S&P 500...

Portfolio Compass | June 13, 2018

COMPASS CHANGES Downgraded precious metals view to negative/neutral from neutral. INVESTMENT TAKEAWAYS Our 2018 earnings forecast for S&P 500 Index companies is $152.50. Assuming a trailing 12-month price to-earnings (PE) ratio of 19–20, we believe the S&P 500...

Portfolio Compass | May 16, 2018

COMPASS CHANGES None. INVESTMENT TAKEAWAYS Our 2018 earnings forecast for S&P 500 Index companies is $152.50. Assuming a trailing 12-month price to-earnings (PE) ratio of 19–20, we believe the S&P 500 would be fairly valued in the range of 2950–3000 by year...