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Regular readers will recall that I’ve been pimping dollar-exposed industrials since early 2012 as the growth stocks of this cycle. I haven’t check in for a while but since the RBA has joined the currency race to the bottom here’s an updated chart:
I included BHP for comparison with the dollar-exposed resource stocks that the sell side is so enamored with. I couldn’t add any more to the chart but other winners included NVT (despite its recent crunch), SEK, REA, SHL and CWN.
The only loser I could find is COH!
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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