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the-tell:-here-are-the-top-‘high-conviction’-buys-for-q3-from-star-stock-pickers-according-to-morningstar
the-tell:-here-are-the-top-‘high-conviction’-buys-for-q3-from-star-stock-pickers-according-to-morningstar

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The Tell: Here are the top ‘high-conviction’ buys for Q3 from star stock-pickers according to Morningstar

The Tell


From metals to materials to paint

Vulcan Materials, one of the largest producers of construction raw materials, appears on Morningstar’s highest-conviction buys list.


iStockphoto

In mid-November, research provider Morningstar offered its list of the 10 most “high-conviction” purchases among “ultimate stock pickers,” and the results are a bit eclectic.

First, some definitions. The ultimate stock pickers in question are “some of the best equity managers in the business,” the Morningstar report notes, and include the managers of such names as the Vanguard Dividend Growth Investor, the Amana Growth Investor fund, and the T. Rowe Price Blue Chip Growth Fund. High-conviction refers to either a portfolio change of a meaningful size, or an altogether new addition to a portfolio — Morningstar includes one list of 10 of each.

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The names on the two lists range from the all-too-familiar, like Apple Inc.
AAPL,
-2.52%
,
to the somewhat esoteric: Eurofins Scientific, anyone? They favor the materials
XLB,
+0.53%

sector, with industrials
XLI,
+1.14%

and technology
XLK,
-0.62%

right behind.

One of the names Morningstar says it finds the most “interesting” is Barrick Gold
GOLD,
-3.93%
,
one of the largest producers of the yellow metal in the world. A bet on a gold producer is obviously a bet on the gold price
GCZ20,
-2.20%
,
which hit a record high earlier this year, and which many analysts think is only likely to decline from here.

Listed below are the six stocks that appear on both lists, meaning they both made a new appearance in a portfolio and made a meaningful change to a portfolio.

It is worth noting, as Morningstar does, that some of these buys may have been done at the beginning of the third quarter — that is, four months ago — and market conditions have changed quite a bit since then.

Read next: This year’s stock-market run looks a lot like 2009, analyst says

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