Welcome to Fundstrat
A differentiated approach to market strategy and sector research

We are an independent research boutique, providing market strategy and sector research. Our differentiated approach is based on what we call fundamental strategy. That is, our research process combines both top-down strategy and bottoms-up fundamental views, to develop a roadmap of practical and useful investment insights for our clients.

Download our Brochure

Welcome to Fundstrat
A differentiated approach to market strategy and sector research

We are an independent research boutique, providing market strategy and sector research. Our differentiated approach is based on what we call fundamental strategy. That is, our research process combines both top-down strategy and bottoms-up fundamental views, to develop a roadmap of practical and useful investment insights for our clients.

Download our Brochure

Fundstrat In The News

See more in Latest News

See more in Latest News

Portfolio Strategy

STRATEGY (Lee): So bad it’s good: GE rewound 100 years of gains
December 14, 2018
STRATEGY (Lee): So bad it’s good: GE re…
December 14, 2018
We believe the collapse of the stock in recent days is a sign that a lot of bad news is priced in. GE may be…
STRATEGY (Lee): 5Y-3Y inversion another headwind for ‘19 but it’s a lou…
December 6, 2018
STRATEGY (Lee): 5Y-3Y inversion another headw…
December 6, 2018
Inversions of the 5Y-3Y happen with excessive frequency (73 times since 1954 vs 9 recessions) and therefore i…
STRATEGY (Lee): Violent Value rotation sign of Bull reaching “middle age …
November 21, 2018
STRATEGY (Lee): Violent Value rotation sign o…
November 21, 2018
The correction in equity markets that started in early October has turned into a “rout” as margin calls, …
STRATEGY (Lee): Year-end rally thesis is stressed, but not broken
November 14, 2018
STRATEGY (Lee): Year-end rally thesis is stre…
November 14, 2018
Equity markets have been rattled in the past few days, falling 3%, rattling the confidence of markets and rai…
FS 3 Points TV: Homebuilders entering best 6M of year, 18% 6M gain, a pecul…
November 12, 2018
FS 3 Points TV: Homebuilders entering best 6M…
November 12, 2018
We discuss how a peculiar seasonality exists with homebuilders, which rally from Oct 20th to April 30th by an…

More reports are available in the Research Library.

Technical

TECHNICALS (Sluymer): Capitalizing on tactical opportunities despite t…
December 11, 2018
TECHNICALS (Sluymer): Capitalizing on tactica…
December 11, 2018
The technical backdrop for equities remains weak as the S&P once again stress tests …
KELSEY 3Q VIDEO: Sluymer, TA, sees tactical opportunities within peaki…
December 11, 2018
KELSEY 3Q VIDEO: Sluymer, TA, sees tactical o…
December 11, 2018
In this week’s video we begin with a discussion of the 4-year market cycle that be…
KELSEY 3Q VIDEO: Sluymer, TA, sees a successful low developing, cyclic…
November 28, 2018
KELSEY 3Q VIDEO: Sluymer, TA, sees a successf…
November 28, 2018
Short-term indicators, tracking multi-week shifts are oversold and beginning to bott…
TECHNICALS (Sluymer): Successful Retest Likely Underway – Cyclicals …
November 27, 2018
TECHNICALS (Sluymer): Successful Retest Likel…
November 27, 2018
Successful retest of the October lows taking hold - Equity market appears to be on t…
KELSEY 3Q VIDEO: Sluymer, TA, explains equities bottoming short-term &…
November 23, 2018
KELSEY 3Q VIDEO: Sluymer, TA, explains equiti…
November 23, 2018
We review the short-term technical backdrop for equities, noting that the pullback a…

More reports are available in the Research Library.

Quantamental

QUANT (Doctor): Doctor Quant Model – Longs Outperformed by 60bps. OW Fina…
December 13, 2018
QUANT (Doctor): Doctor Quant Model – Longs …
December 13, 2018
OW Financials, Tech, and UW Com Services, Industrials and Utilities
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 7 …
December 12, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
December 12, 2018
New this week: Buy Ideas - CL, CSCO, GILD, IBM, IRM, JNJ, TRV; Short Ideas - AMD, AP…
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 14…
December 5, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
December 5, 2018
New this week: Buy Ideas - ABBV, ADBE, ADSK, BA, CAT, FDX, LYB, MA, MS, ORCL, PAYX, …
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 2 …
November 28, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
November 28, 2018
New this week: Buy Ideas - ORLY, UPS; Short Ideas - ANET, GPN, HES
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 8 …
November 21, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
November 21, 2018
New this week: Buy Ideas - AMGN, BIIB, CB, EOG, GOOG, KLAC, ROK, WFC; Short Ideas - …

More reports are available in the Research Library.

Cryptocurrency FX

CRYPTO (Lee): Updates on our Bitcoin fair value models – Ba…
December 13, 2018
CRYPTO (Lee): Updates on our Bitcoin fair val…
December 13, 2018
When we established our fair values on Bitcoin, we relied on two methodologies—a …
CRYPTO TECHNICALS (Sluymer): BTC revisits its rising 200-week mov…
December 12, 2018
CRYPTO TECHNICALS (Sluymer): BTC revisits its…
December 12, 2018
In addition to revisiting the 2014-2015 bear market parallels, today’s note highli…
CRYPTO (Xuan): Fundstrat Benchmark Crypto Indices Weekly Performa…
December 10, 2018
CRYPTO (Xuan): Fundstrat Benchmark Crypto Ind…
December 10, 2018
Over the past 7 days, the FS CryptoFX Agg Index decreased by 15.3%, compared with a …
(Fundstrat 视频) KELSEY的三问时间: 比特币价格的持 …
December 6, 2018
(Fundstrat 视频) KELSEY的三问时间: 比…
December 6, 2018
自九月以来比特币全网算力从57 EH/s下降到36 EH/s。根据Fundstrat挖 …
CRYPTO (Xuan): Fundstrat Benchmark Crypto Indices Weekly Performa…
December 3, 2018
CRYPTO (Xuan): Fundstrat Benchmark Crypto Ind…
December 3, 2018
Over the past 7 days, the FS CryptoFX Agg Index increased by 2.3%, compared with a 4…

More reports are available in the Research Library.

Policy

POLICY (T. Block): Tom Block’s Takeaways: Shutdown and Trade talks contin…
December 10, 2018
POLICY (T. Block): Tom Block’s Takeaways: S…
December 10, 2018
Trade continues to be large issue for the Trump Administration. The arrest last week…
POLICY (T. Block): Tom Block’s Takeaways: Trade politics and shutdown thr…
December 3, 2018
POLICY (T. Block): Tom Block’s Takeaways: T…
December 3, 2018
President Trump made headlines on trade while in Argentina at the G20 when he agreed…
POLICY (T. Block): Tom Block’s Takeaways: Week of trade and politics
November 26, 2018
POLICY (T. Block): Tom Block’s Takeaways: W…
November 26, 2018
POLICY (T. Block): Tom Block’s Takeaways: Congress returns but attention …
November 12, 2018
POLICY (T. Block): Tom Block’s Takeaways: C…
November 12, 2018
Final vote count appears to give House Democrats a gain of between 30 to 35 seats, a…
POLICY (T. Block): Tom Block’s Takeaways: No Democratic wave, but new day…
November 7, 2018
POLICY (T. Block): Tom Block’s Takeaways: N…
November 7, 2018
Trump and his Administration will face real opposition for the first time since his …

More reports are available in the Research Library.

Portfolio Strategy

STRATEGY (Lee): So bad it’s good: GE rewound 100 years of gains
December 14, 2018
STRATEGY (Lee): So bad it’s good: GE re…
December 14, 2018
We believe the collapse of the stock in recent days is a sign that a lot of bad news is priced in. GE may be…
STRATEGY (Lee): 5Y-3Y inversion another headwind for ‘19 but it’s a lou…
December 6, 2018
STRATEGY (Lee): 5Y-3Y inversion another headw…
December 6, 2018
Inversions of the 5Y-3Y happen with excessive frequency (73 times since 1954 vs 9 recessions) and therefore i…
STRATEGY (Lee): Violent Value rotation sign of Bull reaching “middle age …
November 21, 2018
STRATEGY (Lee): Violent Value rotation sign o…
November 21, 2018
The correction in equity markets that started in early October has turned into a “rout” as margin calls, …

More reports are available in the Research Library.

Technical

TECHNICALS (Sluymer): Capitalizing on tactical opportunities despite t…
December 11, 2018
TECHNICALS (Sluymer): Capitalizing on tactica…
December 11, 2018
The technical backdrop for equities remains weak as the S&P once again stress tests …
KELSEY 3Q VIDEO: Sluymer, TA, sees tactical opportunities within peaki…
December 11, 2018
KELSEY 3Q VIDEO: Sluymer, TA, sees tactical o…
December 11, 2018
In this week’s video we begin with a discussion of the 4-year market cycle that be…
KELSEY 3Q VIDEO: Sluymer, TA, sees a successful low developing, cyclic…
November 28, 2018
KELSEY 3Q VIDEO: Sluymer, TA, sees a successf…
November 28, 2018
Short-term indicators, tracking multi-week shifts are oversold and beginning to bott…

More reports are available in the Research Library.

Quantamental

QUANT (Doctor): Doctor Quant Model – Longs Outperformed by 60bps. OW Fina…
December 13, 2018
QUANT (Doctor): Doctor Quant Model – Longs …
December 13, 2018
OW Financials, Tech, and UW Com Services, Industrials and Utilities
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 7 …
December 12, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
December 12, 2018
New this week: Buy Ideas - CL, CSCO, GILD, IBM, IRM, JNJ, TRV; Short Ideas - AMD, AP…
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 14…
December 5, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
December 5, 2018
New this week: Buy Ideas - ABBV, ADBE, ADSK, BA, CAT, FDX, LYB, MA, MS, ORCL, PAYX, …

More reports are available in the Research Library.

Cryptocurrency FX

CRYPTO (Lee): Updates on our Bitcoin fair value models – Ba…
December 13, 2018
CRYPTO (Lee): Updates on our Bitcoin fair val…
December 13, 2018
When we established our fair values on Bitcoin, we relied on two methodologies—a …
CRYPTO TECHNICALS (Sluymer): BTC revisits its rising 200-week mov…
December 12, 2018
CRYPTO TECHNICALS (Sluymer): BTC revisits its…
December 12, 2018
In addition to revisiting the 2014-2015 bear market parallels, today’s note highli…
CRYPTO (Xuan): Fundstrat Benchmark Crypto Indices Weekly Performa…
December 10, 2018
CRYPTO (Xuan): Fundstrat Benchmark Crypto Ind…
December 10, 2018
Over the past 7 days, the FS CryptoFX Agg Index decreased by 15.3%, compared with a …

More reports are available in the Research Library.

Policy

POLICY (T. Block): Tom Block’s Takeaways: Shutdown and Trade talks contin…
December 10, 2018
POLICY (T. Block): Tom Block’s Takeaways: S…
December 10, 2018
Trade continues to be large issue for the Trump Administration. The arrest last week…
POLICY (T. Block): Tom Block’s Takeaways: Trade politics and shutdown thr…
December 3, 2018
POLICY (T. Block): Tom Block’s Takeaways: T…
December 3, 2018
President Trump made headlines on trade while in Argentina at the G20 when he agreed…
POLICY (T. Block): Tom Block’s Takeaways: Week of trade and politics
November 26, 2018
POLICY (T. Block): Tom Block’s Takeaways: W…
November 26, 2018

More reports are available in the Research Library.

Portfolio Strategy

STRATEGY (Lee): So bad it’s good: GE rewound 100 years of gains
December 14, 2018
STRATEGY (Lee): So bad it’s good: GE re…
December 14, 2018
We believe the collapse of the stock in recent days is a sign that a lot of bad news is priced in. GE may be…
STRATEGY (Lee): 5Y-3Y inversion another headwind for ‘19 but it’s a lou…
December 6, 2018
STRATEGY (Lee): 5Y-3Y inversion another headw…
December 6, 2018
Inversions of the 5Y-3Y happen with excessive frequency (73 times since 1954 vs 9 recessions) and therefore i…
STRATEGY (Lee): Violent Value rotation sign of Bull reaching “middle age …
November 21, 2018
STRATEGY (Lee): Violent Value rotation sign o…
November 21, 2018
The correction in equity markets that started in early October has turned into a “rout” as margin calls, …
STRATEGY (Lee): Year-end rally thesis is stressed, but not broken
November 14, 2018
STRATEGY (Lee): Year-end rally thesis is stre…
November 14, 2018
Equity markets have been rattled in the past few days, falling 3%, rattling the confidence of markets and rai…

More reports are available in the Research Library.

Technical

TECHNICALS (Sluymer): Capitalizing on tactical opportunities despite t…
December 11, 2018
TECHNICALS (Sluymer): Capitalizing on tactica…
December 11, 2018
The technical backdrop for equities remains weak as the S&P once again stress tests …
KELSEY 3Q VIDEO: Sluymer, TA, sees tactical opportunities within peaki…
December 11, 2018
KELSEY 3Q VIDEO: Sluymer, TA, sees tactical o…
December 11, 2018
In this week’s video we begin with a discussion of the 4-year market cycle that be…
KELSEY 3Q VIDEO: Sluymer, TA, sees a successful low developing, cyclic…
November 28, 2018
KELSEY 3Q VIDEO: Sluymer, TA, sees a successf…
November 28, 2018
Short-term indicators, tracking multi-week shifts are oversold and beginning to bott…
TECHNICALS (Sluymer): Successful Retest Likely Underway – Cyclicals …
November 27, 2018
TECHNICALS (Sluymer): Successful Retest Likel…
November 27, 2018
Successful retest of the October lows taking hold - Equity market appears to be on t…

More reports are available in the Research Library.

Quantamental

QUANT (Doctor): Doctor Quant Model – Longs Outperformed by 60bps. OW Fina…
December 13, 2018
QUANT (Doctor): Doctor Quant Model – Longs …
December 13, 2018
OW Financials, Tech, and UW Com Services, Industrials and Utilities
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 7 …
December 12, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
December 12, 2018
New this week: Buy Ideas - CL, CSCO, GILD, IBM, IRM, JNJ, TRV; Short Ideas - AMD, AP…
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 14…
December 5, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
December 5, 2018
New this week: Buy Ideas - ABBV, ADBE, ADSK, BA, CAT, FDX, LYB, MA, MS, ORCL, PAYX, …
FS QU/TE (Doctor/Sluymer): Quant / Technical Matrix – Highlighting 2 …
November 28, 2018
FS QU/TE (Doctor/Sluymer): Quant / Technical …
November 28, 2018
New this week: Buy Ideas - ORLY, UPS; Short Ideas - ANET, GPN, HES

More reports are available in the Research Library.

Cryptocurrency FX

CRYPTO (Lee): Updates on our Bitcoin fair value models – Ba…
December 13, 2018
CRYPTO (Lee): Updates on our Bitcoin fair val…
December 13, 2018
When we established our fair values on Bitcoin, we relied on two methodologies—a …
CRYPTO TECHNICALS (Sluymer): BTC revisits its rising 200-week mov…
December 12, 2018
CRYPTO TECHNICALS (Sluymer): BTC revisits its…
December 12, 2018
In addition to revisiting the 2014-2015 bear market parallels, today’s note highli…
CRYPTO (Xuan): Fundstrat Benchmark Crypto Indices Weekly Performa…
December 10, 2018
CRYPTO (Xuan): Fundstrat Benchmark Crypto Ind…
December 10, 2018
Over the past 7 days, the FS CryptoFX Agg Index decreased by 15.3%, compared with a …
(Fundstrat 视频) KELSEY的三问时间: 比特币价格的持 …
December 6, 2018
(Fundstrat 视频) KELSEY的三问时间: 比…
December 6, 2018
自九月以来比特币全网算力从57 EH/s下降到36 EH/s。根据Fundstrat挖 …

More reports are available in the Research Library.

Policy

POLICY (T. Block): Tom Block’s Takeaways: Shutdown and Trade talks contin…
December 10, 2018
POLICY (T. Block): Tom Block’s Takeaways: S…
December 10, 2018
Trade continues to be large issue for the Trump Administration. The arrest last week…
POLICY (T. Block): Tom Block’s Takeaways: Trade politics and shutdown thr…
December 3, 2018
POLICY (T. Block): Tom Block’s Takeaways: T…
December 3, 2018
President Trump made headlines on trade while in Argentina at the G20 when he agreed…
POLICY (T. Block): Tom Block’s Takeaways: Week of trade and politics
November 26, 2018
POLICY (T. Block): Tom Block’s Takeaways: W…
November 26, 2018
POLICY (T. Block): Tom Block’s Takeaways: Congress returns but attention …
November 12, 2018
POLICY (T. Block): Tom Block’s Takeaways: C…
November 12, 2018
Final vote count appears to give House Democrats a gain of between 30 to 35 seats, a…

More reports are available in the Research Library.