Fri, June 19, 2020 | 5:44PM ET

Rally Has Big Skeptics Grousing but Data Backs the Bulls Array ( [cookie] => 460b93-ac4cce-e33761-b1ea8c-9e03d7 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 187188 [user_id] => [reason] => [method] => ) 1 and can accesss

Name: FS Insight
Price range: $$$

Head of Global Portfolio Strategy and Asset Allocation

In the past week alone three big market “skeptics” tried to take center stage and herald their bearish forecasts. We’ll take a look at their arguments below. I’ve been on the record for months now that based on our analysis, equity markets should be higher in the future.

Skeptic #1: A high-profile hedge fund manager with an impressive long-term track record suggested that equity investors are likely headed toward a “lost decade” after suggesting “cash is trash” just five short months ago, weeks before the February 2020 high in the S&P. This conclusion is apparently based on a forecast that U.S. corporate profit margins are about to experience a sharp and sustained decline.

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Thomas J. Lee

Head of Research

Type	Publication
Reports	First Word The best market research out there -- on a near-daily basis.
	Intraday Alerts These are released periodically after crucial market developments.	Real-Time
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	Outlook Webinars We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights!	Yearly
	Granny Shots Webinars
	CEO Interview Webinars	Quarterly
	Appearances Archive	Real-Time
Allocation Tools	"Super Granny" Shots Stock List Granny Shots we expect to tactically outperform and underperform.
	Granny Shots Stock List Thematic investment stock picks that aim to outperform the S&P 500.
	Sector Allocation A sector allocation strategy that is designed to outperform the S&P 500 while taking minimal risk.
Market Alerts	⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads.	Real-Time

Mark L. Newton

Head of Technical Strategy

Type	Publication
Reports	Daily Technical Strategy Daily commentary on market trends and short term opportunities.
	Weekly Roadmap Weekly summary of market events and updates on our key theses.
Webinars & Videos	Daily Technical Strategy Daily commentary on market trends and short term opportunities.
	Live Technical Analysis
	Outlook Webinars We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights!	Yearly
	Appearances Archive	Real-Time
Allocation Tools	Newton's Upticks Stock List Technically derived, intermediate-term picks of attractive risk/reward opportunities from the S&P 500.
Market Alerts	⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads.

L. Thomas Block

Washington Policy Strategy

Type	Publication
Reports	US Policy Weekly update on developments in Washington DC and how they may impact Wall Street.
	Weekly Roadmap Weekly summary of market events and updates on our key theses.
Market Alerts	⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads.	Real-Time

Sean Farrell & Crypto Team

Type	Publication
Reports	Market Update Stay on top of the crypto markets with macro commentary, technical analysis, and the most relevant news.
	Weekly Strategy Weekly summary of market events and updates on our key theses.
	Funding Fridays Are you looking for investment opportunities in the crypto space? We explore early-stage crypto opportunities in this note about where the smart money is being invested!
	Crypto Concepts We periodically provide in-depth research on the leading protocols, companies, and funds shaping the crypto ecosystem.
	Liquid Ventures A recurring research note focused on delivering unique insights into high-risk investment opportunities within the crypto ecosystem, primarily centered on early-stage or small-cap tokens.
	Deep Research We periodically provide in-depth research on the leading protocols, companies, and funds shaping the crypto ecosystem.	Quarterly
	Weekly Roadmap Weekly summary of market events and updates on our key theses.
Webinars & Videos	Outlook Webinars Ongoing webinars exploring crypto opportunities, in depth research, and exclusive research offerings from our team of analysts and leading cryptocurrency firms.	Yearly
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Allocation Tools	Crypto Core Strategy A powerful tool designed to help crypto investors build a crypto portfolio that outperforms the industry’s king – bitcoin – regardless of market conditions.
Market Alerts	⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads.	Real-Time

FS Insight Research Team

Type	Publication
Reports	First to Market
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	Signal From Noise Highlights timely market themes and sectors with corresponding stocks, cutting through the day-to-day market “noise” for a distinct perspective.
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*Daily reporting during each quarterly earnings season.

More from the author

Brian Rauscher, CFA ^AC

Head of Global Portfolio Strategy and Asset Allocation

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Brian Rauscher, CFA, the research analyst denoted by an “AC” on the cover of this report, hereby certifies that all of the views expressed in this report accurately reflect his personal views, which have not been influenced by considerations of the firm’s business or client relationships. Neither I, nor a member of my household is an officer, director, or advisory board member of the issuer(s) or has another significant affiliation with the issuer(s) that is/are the subject of this research report. There is a possibility that we will from time to time have long or short positions in, and buy or sell, the securities or derivatives, if any, referred to in this research.

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