BWLLY - Don't Join The Industrial Average

• Normally, within each sector, there are some segments that are more attractive while others are less.
• We struggle to find such a segment within the Industrials sector, but one category does stand out above all others: Shipping.
• Not only is shipping the most attractive segment within the Industrials sector, but we believe it's one of the best places to be invested within the entire market.
• While we assign an average allocation/rating to the sector, we certainly don't suggest to adopt the same approach when it comes to the average industrial stock.

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