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Growth

Apr 05 2019

Small Cap Biotech Getting Pricey Again

  • Apr 5, 2019

In May 2015, we warned about rich valuations for small cap Biotech stocks and looked at various ways to evaluate those companies, as the majority have no approved drugs on the market, thus no revenue; therefore, valuing these companies using the conventional methodology is problematic.

Nov 07 2018

If Not Large Cap Growth, Then What?

  • Nov 7, 2018

With the valuation of several high-profile Large Growth names well over 100 times earnings, we consid-er alternatives by examining the relative valuations between LG and other equity categories.

Nov 07 2018

October Factor Performance

  • Nov 7, 2018

Most factor categories reversed performance along with the market in October. During the month, Value had solid results while Growth gave up all of its 2018 gains. Profitability also had a nice bounce-back month. 

May 05 2018

Cashing In On The LEI?

  • May 5, 2018

The consensus view is that the stock market will be fine as long as there’s no recession in sight.The same LEI that has displayed a fine GDP forecasting record has shown essentially no relationship with S&P 500 forward twelve-month performance. In fact the regression line shows a slight negative slope!

Nov 07 2017

Below “Stall Speed”?

  • Nov 7, 2017

The last few months have served up some of the strongest readings observed during the U.S. economic expansion.

Jun 07 2016

Glamour Growth Stocks: Better For The Long Haul

  • Jun 7, 2016

Are Glamour Growth stocks a good investment? Using data from the past 30 years, we found very different outcomes depending on the duration of investment. The best results are attained with a long-term holding period in mind.

Apr 07 2016

Implications Of Low Growth, Low Inflation, Low Rates

  • Apr 7, 2016

The current environment will likely persist longer than most expect which will put further downward pressure on profit margins. As margins come under pressure, companies increase leverage to prop up ROE. However, the market wants higher duration, not higher leverage.

Mar 07 2016

Growth vs Value vs Cyclicals

  • Mar 7, 2016

Small Cap Growth stocks have gotten off to a rotten start in 2016—down almost 12%. On a relative basis, the segment has also been lagging Small Cap Value—underperforming by 9% since last July.

Nov 06 2015

Growth vs Value vs Cyclicals

  • Nov 6, 2015

Growth Edges Out Value As Stocks Rebound

Sep 09 2015

Growth / Value / Cyclicals

  • Sep 9, 2015

Despite the down market, Large Cap Growth expanded its YTD outperformance over Value—now almost 11%. 

Aug 06 2015

Growth/Value/Cyclicals

  • Aug 6, 2015

Growth Showing No Mercy To Value

Jul 08 2015

Growth vs Value vs Cyclicals

  • Jul 8, 2015

First Half Of 2015 All About Growth

Jun 05 2015

Searching For Growth In Emerging Markets

  • Jun 5, 2015

Even though the ten EM sectors are growing at a much stronger pace than corresponding U.S. sectors on the Top-Line, only a small margin exceed the U.S. in terms of EPS growth.

Jun 04 2015

Growth, Value, Cyclicals

  • Jun 4, 2015

Small Cap Growth stocks were the clear outperformers in May, up almost 4%. Growth stocks are still in favor when comparing YTD figures, with the performance gap especially prevalent in the Small and Large Cap spaces.

May 07 2015

Growth, Value, Cyclicals

  • May 7, 2015

Value stocks, recent underachievers, regained some lost ground in April. Large Cap Value was the month’s big winner—helped in large part by rallying energy firms. Large Cap Growth still leads YTD by more than 5%.

Apr 07 2015

Growth, Value, Cyclicals

  • Apr 7, 2015

Growth Continues Run In Q1

Mar 06 2015

Growth, Value, Cyclicals

  • Mar 6, 2015

Growth Stocks Dominating Value

Feb 05 2015

Growth/Value/Cyclicals

  • Feb 5, 2015

Momentum Continues For Growth Stocks

Jan 08 2015

Growth, Value, Cyclicals

  • Jan 8, 2015

Growth Strong In Second Half Of 2014

Dec 04 2014

Growth/Value/Cyclicals

  • Dec 4, 2014

Growth Stocks Better In November

Nov 06 2014

Growth vs Value vs Cyclicals

  • Nov 6, 2014

Large Cap Value Left Out Of October Surge

Oct 06 2014

Growth/Value/Cyclicals

  • Oct 6, 2014

Growth Stocks Better In Rough September

Sep 08 2014

Growth/Value/Cyclicals

  • Sep 8, 2014

Large Cap Growth has had an impressive advantage over Large Cap Value in six of the past seven years but that trend is reversing in 2014.

Aug 06 2014

Growth/Value/Cyclicals

  • Aug 6, 2014

Growth And Value Go Down Together

Jul 08 2014

Separating Earnings And Sales Growth

  • Jul 8, 2014

With the two factors decoupling, we examine if either one has been adding more value.

Jul 07 2014

Growth/Value/Cyclicals

  • Jul 7, 2014

Value strong again in Q2.

Jun 06 2014

Momentum & Growth Factors Regain Footing

  • Jun 6, 2014

But Momentum turnover of constituents has altered its characteristics – names are now slightly more defensive, cheaper, and larger.

Jun 06 2014

Growth/Value/Cyclicals

  • Jun 6, 2014

Growth outperformed Value in all market cap subsets: Large Cap, Mid Cap, and Small Cap. It also snapped a five month losing streak with Cyclicals. Despite the reversal, Growth is still lagging YTD, and is extremely undervalued compared to Value.

May 06 2014

Growth/Value/Cyclicals

  • May 6, 2014

In April, Large Cap Value widened its YTD outperformance over Large Growth to 730 bps.

Apr 07 2014

Quantitative Strategies: Factor Performance Reverses

  • Apr 7, 2014

Momentum suffered across almost every sector, but it was particularly bad for Health Care and Info Tech. Value factors finally rebounded after losing over the past year.

Apr 07 2014

Growth/Value/Cyclicals

  • Apr 7, 2014

Growth Takes It On The Chin In March.

Mar 07 2014

The State Of Momentum

  • Mar 7, 2014

Momentum has easily been the best quantitative factor over the last year. The only other factor with notable positive performance is Sentiment. Can this continue?

Mar 06 2014

Growth/Value/Cyclicals

  • Mar 6, 2014

Growth Outperforms Value In February.

Feb 07 2014

Growth/Value/Cyclicals

  • Feb 7, 2014

Small Cap Growth Outperforms (On Relative Basis) In Down Month

Jan 08 2014

Growth/Value/Cyclicals

  • Jan 8, 2014

Growth Stocks Best In All Three Cap Categories.

Jan 08 2014

Group Scores Worked Well In 2013, What We Like For 2014

  • Jan 8, 2014

All five factor categories did well, and the best performing Attractive industries came from six different sectors and ranged from traditionally defensive to more cyclical groups.

Dec 06 2013

Dissecting The Capital Tier Indices

  • Dec 6, 2013

Sector weight changes during November were minimal. 

Dec 06 2013

Growth/Value/Cyclicals Market Internals

  • Dec 6, 2013

Growth Stocks Lead YTD In All Three Cap Categories.

Nov 07 2013

Large Cap Growth Bounces Back The Past Two Months

  • Nov 7, 2013

Growth stocks are now all above their historical average valuation levels. Value stocks are all solidly overvalued compared to their recorded averages.

Oct 08 2013

Growth Continues Leading In Mid And Small Caps YTD, Large Cap Growth Bounces Back

  • Oct 8, 2013

All three cap tiers of Growth also now ahead for the YTD. Growth stocks are moving towards their his- torical average valuation levels, with Mid Cap Growth now being overvalued. All Value stock segments continue to be solidly overvalued.