- In spite of half of our FMP's four building blocks trading in distress-mode, the portfolio/investment strategy is working just fine.
- Although stocks are no longer expensive, the economy is looking so fragile, posing a great deal of risk for further decline.
- This year's lead investment themes remain intact, and we're still very much in a risk-off environment.
- One of the sectors we remain constructive about is Healthcare as it fits the leading themes as well as offering better value than its defensive peers.
- Very low exposure to tech/growth stocks is allowing us to have a large exposure to biotech, where healthcare meets tech and growth.
For further details see:
XLV, XBI: Why We're Bullish On Healthcare (Generally) And Biotech (Specifically)