We believe that the U.S. economy will continue growing modestly through 2013 and pick up speed in 2014. We have positioned the portfolio to take advantage of a slowly growing economy by slightly over-weighting the consumer discretionary, energy, industrials, technology, and health care sectors as these have traditionally benefited from recoveries. Accordingly, the consumer durables, financials, materials, telecommunications, and utilities sectors were under-weighted. Although the future is unusually cloudy, we reached this conclusion based on expected economic growth rates, favorable market P/E ratios and continued low interest rates.
Terala, Soumya; Harvey, Peter; Mayo, Kevin; Talwar, Bhawna; Patil, Pankaj; and Enger, Chris, "SunTrust Portfolio Recommendations: Crummer Investment Management " (2013). SunTrust Portfolios. Paper 26.