Stocks are Advancing on Counter Cyclicals, Knowledge Leaders LeadershipNovember 18, 2014
As US stocks continue their march higher we’d like to remind readers of the market leadership in general and especially off of the October low. Stocks have staged a powerful rally, but the leadership has been and remains counter cyclical stocks and Knowledge Leaders, companies that successfully employ knowledge capital to achieve outsized returns. This has not been a “dash for trash” rally, to the contrary. This extremely powerful 10% rally in the span of one month has been led by high quality innovators and stocks with stable cash flows (which are more coincident than mutually exclusive attributes).