Attractive Equity Investment Opportunities in a post-COVID Environment
Where are the most attractive investment opportunities in U.S. equity markets going into 2021?
In this webinar, Alan Langsner and Matt Kelley will outline underlying trends significantly impacting the U.S. equity market in 2020, including the disparity of growth versus value and the outsized contribution from the Information Technology and Communication Services sectors. In addition, Alan and Matt will discuss attractive investment opportunities that Sirios has found in 2020 and how Sirios and its 21-year history of fundamental, bottom-up, long-short investing fits into a portfolio. The webinar will cover:
- Disparity of returns in growth versus value in the U.S. equity market this year
- The impact of the Information Technology and Communication Services sectors on investors’ performance in 2020, and influence of other sectors on performance
- Where has Sirios found compelling new investment opportunities?
- How does Sirios fit into a portfolio?
- How can skilled shorting add value to portfolios?
The presenters will be available after the presentation to answer attendees' questions live.
Absolute Return Letter - December 2020
Zombies are firms that are neither dead or alive. They are in so much debt that virtually all their free cash is used to service their debt, and that is very damaging to GDP growth. This month, we explain why there are more and more zombies all over the world, and why they do immense damage to the global economy.
Making Sense of Sky-High Stock Prices
Many have been puzzled that the world’s stock markets haven’t collapsed in the face of the COVID-19 pandemic and the economic downturn it has wrought. But with interest rates low and likely to stay there, equities will continue to look attractive, particularly when compared to bonds.
Moving Averages Update: November Up 10.75%
Valid until the market close on December 31, 2020.
The S&P 500 closed November with a monthly gain of 10.75% after a loss of 2.77% in October. At this point, after close on the last day of the month, four of five S&P 500 strategies are signaling "invested" — Vanguard Total Stock Market ETF (VTI), Vanguard FTSE All-World ex-US ETF (VEU), Vanguard REIT Index ETF (VNQ), and Invesco DB Commodity Index Tracking (DBC) — an increase from last month's triple"invested" signal.
Has the Size Premium Disappeared?
Small-cap stocks have underperformed the broader markets since the “discovery” of the size premium in 1981. But research shows that a segment of those small-cap stocks have performed well and that now is a compelling time to invest in them.
Technically Speaking: Investors Go “All-In” Without A Net
We have recently written a couple of posts about the “exuberance” that has invaded the market since the election. Such is often seen near short- to intermediate-term peaks in markets as investors go “all-in” without a net.
Yellen May Restore Treasury-Fed Cooperation, With Eye on GOP
As Treasury secretary, Janet Yellen is almost certain to pursue tighter coordination with the U.S. Federal Reserve next year -- repairing recent frictions -- though observers say she will be careful to avoid any specific move that could trigger a wave of Republican protests.
Buyout Titans Fire Up LBO Machine With $1.6 Trillion to Spend
The biggest private equity firms in the U.S. are unleashing a flurry of new leveraged buyouts and debt-funded dividends, seeking to make up for lost time after staying on the sidelines for much of 2020.