RBC's Calvasina Sees Inflation Moderating, Likes Tech

Lori Calvina from RBC Capital Markets discusses the current state of the U.S. equity market, focusing on moderation trends, portfolio positioning, and the balance between growth and value investments. She provides insights into market valuations, recession indicators, and future market outlooks, emphasizing the importance of being selective in investments, particularly in the tech sector. The discussion also covers market sentiment and positioning, highlighting the need for strategic adjustments in response to economic shifts.

What is Lori Calvina's approach to portfolio positioning in a moderating market?

• Maintain a balanced approach with overweights in both growth and value sectors

• Focus solely on growth sectors

• Invest only in financials

• Avoid technology stocks

According to Lori, what is happening with the value trade?

• Value has become too expensive

• Growth sectors are starting to present valuation opportunities

• Value sectors are outperforming growth sectors

• The economy is moving towards a hot trend

What does Lori suggest about current market valuations?

• Valuations are too high to consider buying

• Valuations are at 'hold your nose and buy' levels

• There are no bargains available

• There are potential bargains, especially in small caps

How do stocks typically behave during a recession, according to Lori?

• They continue to rise steadily

• They remain stable throughout the recession

• They only recover after the recession is over

• They sell off early and recover before the recession ends

What is Lori's view on the shift from value to growth?

• She emphasizes large-cap software stocks as a safer growth option

• She prefers small-cap tech stocks

• She advises against investing in growth sectors

• She believes value will outperform growth

What does Lori identify as a tool for corporate America to navigate tough times?

• Consumer staples

• Small-cap tech stocks

• Large-cap software

• Financial services

What is Lori's perspective on the current market's recession signals?

• The market is not yet convinced of a recession

• The market is convinced of an impending recession

• Recession signals are irrelevant to market trends

• The market has already priced in a recession