Market Overview

12,000 Hedge Fund Managers Prefer GM And Fiat Chrysler, Not Tesla

12,000 Hedge Fund Managers Prefer GM And Fiat Chrysler, Not Tesla

A pair of new polls by SumZero asked 12,000 buy-side members of the finance industry where investors should be putting their money in 2016. The stock market is off to a bumpy start, but the volatility and uncertainty only make stock and sector selection even more important.

In terms of 2016 being a bounce-back year, SumZero asked which lagging 2015 sector (energy, materials, utilities, industrials or financials) will perform best this year. Respondents preferred the energy sector (35.5 percent) by a wide margin over financials (21.1 percent), which came in a distant second. The materials and industrials sectors tied for the lowest number of votes at just 12.2 percent each.

Related Link: Market Bull: S&P 500 Could Fall More Than 30%

So far in 2016, the Energy Select Sector SPDR (ETF) (NYSE: XLE) has traded down about 6.6 percent, mostly in line with the S&P 500’s decline.

Best Buys

In addition to preferred sectors, SumZero also asked which auto industry stock is the best buy at today’s prices.

General Motors Company (NYSE: GM) was the overwhelming favorite at 37.7 percent, followed by Fiat Chrysler Automobiles NV (NYSE: FCAU), (17.2 percent) and Volkswagen AG (ADR) (OTC: VLKAY).

Only 6.6 percent of respondents chose Tesla Motors Inc (NASDAQ: TSLA), the least popular pick among the seven choices.

Disclosure: The author holds no position in the stocks mentioned.

Image Credit: Public Domain

Posted-In: SumZeroLong Ideas Education Hedge Funds Crowdsourcing Top Stories Trading Ideas General Best of Benzinga


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