“In the near-term, investors are having a tough time deciding how to position themselves with stocks near their all-time highs.
But those thinking longer-term are probably more concerned about which stocks they should be in.
“The main criterion is sustainability — of competitive advantages, business model, pricing power, cost efficiency, and growth,” the analysts wrote.
“We are taking a long term view,” they continued. “There was no prerequisite in our analysis that they be rated Overweight, nor specific assumptions about where we are in the economic cycle or any other valuation considerations. Our driving principle was to create a list of companies whose business models and market positions would be increasingly differentiated by 2016.” ….”Comments »