The consensus has turned against the the Great White North as the number of hedge funds betting against the country continues to grow. But the trade is getting crowded and recent economic data should cause the bears to reconsider their thesis.
The great white short
The bear thesis against Canada is pretty simple.
- Slowing growth in emerging markets will put a drag on commodity prices
- The over-indebted Canadian more »
Anyone looking at the North American construction sector will be interested in what Acuity Brands (NYSE: AYI) had to say about the current state of markets. As a lighting manufacturer and distributor it is somewhat late cycle in the construction phase, but in general the commentary was positive and its revenues came in better than expected. So is this the green light for the construction sector and Acuity?
Acuity’s more »
The market has been in bullish mood recently, and much to the chagrin of those of us with a contrarian persuasion it’s becoming ever harder to find anything that doesn’t have optimism already priced in. With that said, there are always stocks with some evaluation upside, and I think Regal Beloit (NYSE: RBC) is worth a look. In summary it is a highly cash generative company with a more »
Per an amended 13D SEC filing last week, Relational Investors has upped its stake of Timken (NYSE: TKR) to 7 million shares, or 7.3% of the company. According to Relational's third quarter 13F filing, the fund owned only 3.2 million Timken shares, making it its 15th largest holding. In a 13D filing during late November, Relational had its stake up to only 5.89 million shares. By more »
Royce & Associates now owns 2.7 million shares of EnerSys (NYSE: ENS), according to a recent 13G filed with the SEC. This is up from 2.5 million shares at the beginning of October (find more stocks Royce owned at the time) and gives the fund 5.5% of the total shares outstanding. Royce & Associates, managed by Chuck Royce, tends to focus on taking relatively large percentage stakes in small-cap more »