Equity sectors and segments – what do we favour?

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments.

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With many stock market indices having hit record highs in the first quarter of 2024, it is timely to look at some of the factors our analysts take into account when selecting their preferred stocks. Besides looking at the development of individual companies, it is also important to join the dots and see what the important drivers are in different sectors and subsectors. So, what has our attention currently? 

In this episode of the Beyond Markets podcast, Bernadette Anderko, Investment Writer, talks to Philipp Lienhardt, Head of Equity Research, about how his team approaches the process of stock selection, what sectors they favour currently and the subsectors that are set to offer good investment opportunities in the coming months.

00:53 Stock selection – our process

02:30 Background – the big picture     

04:29 Why we are approaching the time for a style reversal

05:18 Why we still prefer US stocks versus European stocks

06:28 Our preferred sectors (Communications/IT)

07:54 Why we don’t believe that there is an IT bubble

08:59 Why we like the Healthcare sector and some specific segments

10:27 Subsectors where we see value

12:05 Consumer defensives – it pays to be defensive

12:54 Our stance on luxury goods

13:20 Our stance on European financials

14:02 Looking forwards and considering US elections

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