U.S. Equity Strategy: Reiterating Biotechs, Gold Miners; Downgrading Financials to Market Weight
Key themes: Downgrading Financials. Given the Sectorās relative deterioration, we are downgrading Financials to market weight. Pockets of strength...
636 Views
Gold: Is It the Beginning of New Golden Era or End of the Bull Run?
Gold has had a great run in the last 15 years, beating almost all the other class. Is it the beginning of an another super cycle or is the current...
563 Views
Newmont Mining (NEM US): The World's Premier Gold Miner At ~10% FCF Yield
NEM US: World's largest gold miner. Record $3.1B quarterly FCF. $6B buyback. 2026 trough; production ramps to 6Moz+ by 2028. 10.8x PE/6.0 EV-EBITDA...
318 Views
Market Is Wrong on US Tariffs for Chinese Steel
The market is expecting US tariffs on Chinese steel exports wrongly believing Chinese are major steel Ā exporters to the US.Steel exports to US...
2.7k Views
Avoid the Steel Trap: Fundamentals Indicate Trouble Ahead
With U.S. steelmaker stocks having rallied sharply after a painful 2015, shares are now pricing in much better times ahead. Given the impact of...
443 Views