Tankers, tobacco shine as market turns overAaron Pressman
The market’s turn over the past three months or so has certainly shaken up some top performing themes of the past three years. Run a Morningstar screen of the top industries over the past three years and you find steel, oil and coal among the winners. They’ve all faltered. Other top industries now dragging include machinery, building materials and hotels. Over the past three months all of those largely cyclical players (companies whose fates are tied closely to the larger economy) have dived. Oil and gas products companies, such as refiners Valero Energy (VLO) and Sunoco (SUN), have been an exception.
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