We’re adding two stocks to Growth Portfolio—an agriculture play and an energy play—in line with our view (p.1) that food and energy prices have entered sustainable uptrends that will push valuations in those sectors higher. By the same token, we’re shedding two stocks with faltering price momentum, a recipe for a decline in relative P/Es. Among the latter, as noted in market updates, we’ve soured on the drug industry, which increasingly will struggle because…

Subscribers: click here for the full story

Non-Subscribers: click here to subscribe