(Bloomberg) — Value shares are a better way to bet on a Covid-19 vaccine than cyclical stocks, even though the latter have gained favor for capturing the trade, according to Goldman Sachs Group Inc.Value shares beat their growth counterparts by more than 3 percentage points over the Aug. 22 to Sept. 8 period, when the chances of a vaccine available by the first quarter of 2021 jumped to about 70% from around 40%, Goldman strategists led by David Kostin wrote in a note Friday. Cyclical shares underperformed defensive ones, they said.Value stocks tend to have short-duration cash flows, so will …read more
Source:: Yahoo Finance
