美银-RIC报告:自由现金流为王-The RIC Report:Free cash flow is king-20260909.pptx

美银-RIC报告:自由现金流为王-The RIC Report:Free cash flow is king-20260909.pptx

Afteran“asgoodasitgets”summer...

USharddataarethebestinfiveyears,globalearningsrevisionsarenearrecordhighs,andweexpectFedhikes.Nowonderinvestorssaid“asgoodasitgets”thissummer,

rotatingfromAlpicksshovelstostagflation,defensives,andquality(Exhibit4).The

ass

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