Feeling Fine About Financials
By Lori Calvasina
Published March 7, 2023 | 6 min listen
Ahead of RBC’s Financial Services conference this week, today in the podcast we’re digging into our thoughts on the Financials sector, which we remain overweight. Three big things you need to know: First, Financials has been one of the best performing sectors over the past 6 months. Second, we think the sector is an attractively valued recovery play with a positive shareholder return profile, which history suggests should benefit from a Fed pause. Third, near-term challenges for the sector, and longer-term risks to our view, include the earnings forecast downgrade cycle the sector is in the midst of and the moderation in inflation that our economists continue to anticipate.
Lori Calvasina
Managing Director & Global Head of Equity Strategy, RBC Capital Markets
Lori Calvasina joined RBC Capital Markets as Head of U.S. Equity Strategy in 2017 as a Managing Director. Having spent nearly two decades as an equity strategist at major investment banks, Lori is an expert on the US stock market, and regularly represents RBC in the financial media on Bloomberg and CNBC. Prior to joining RBC, Lori was a senior equity strategist at Credit Suisse from 2010 to 2017, covering Small/Mid Cap Strategy from 2010-2014 and both Small/Mid Cap and US Equity Strategy from 2015-2017. She spent the first ten years of her career at Citi in a variety of roles including lead Small/Mid Cap Strategist from 2007-2010. In both 2008 and 2009 Lori was ranked #2 in the Small Companies category in the Institutional Investor All America Research team poll. Lori is a graduate of the University of Virginia and its selective Government & Foreign Affairs’ Honors Program. In 2019, she was named to Crains New York’s list of Notable Women in Finance.
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