Podcast: A $13 Billion Miss on Big Tobacco Stocks and Two Other Numbers You Need to Know
Numbers By Barron’s is a two-minute financial podcast with three vital numbers to start your morning. Available on iTunes, Stitcher, and wherever you get your podcasts-as well as on your Amazon Alexa smart speaker
Three numbers to start your day:
-from 2000 to 2014. Why? It sold out of tobacco stocks and banned investing in them.
The fund’s third-quarter filing shows a small stake in pot stock Tilray. What’s more. Calpers’ staff recommended removing the ban on Big Tobacco in 2016. Could that mean Marlboro owner Altria will show up in their portfolio? Given the pension funds’ latest position in pot, Altria’s new stake in cannabis, might look an enticing proposition.
Investors appear skeptical that Under Armour can turn things around. That’s in part because athleisure is on the rise, while Under Armour’s strength-performance wear-is not.
-think Berkshire Hathaway, Bank of America, JPMorgan Chase. The group has had abysmal performance this year.
Have they hit bottom ? Valuations look cheap, but the sector’s weighting might be a more useful indicator, according to DataTrek Research. Its weight in the S&P is near June 2000 lows, so perhaps the group will bounce back.
Things could get worse, the sector could shrink to a sliver of the S&P, like did in 2009. If so, that could be bad news for the market.
Numbers by Barron’s is a new daily podcast. Find out morehere.
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