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USA Fair Value Report – 2019 March
The market centroids plot are the most interesting this month. Four sectors have made significant moves. Industrials has moved across the vertical divide and now resides on the left toward undervaluation while maintaining the same level of year-to-date return. Financials has also moved further undervalued, especially Banks at 93.2$ Fv. Health Care has also joined the crowd on that side of the divide while pulling the median closer to fair value with a higher return. This is a good overall relative directional movement that we hope continues.