The 2014 All-America Research Team: Washington Research, No. 1: Andrew Laperriere, Roberto Perli & team

<The 2014 All-America Research Team
Andrew Laperriere,
Roberto Perli
& teamCornerstone MacroFirst-Place Appearances: 2

Total Appearances: 2

Team Debut: 2013

Repeating in first place is the three-strong, Washington-based Cornerstone Macro crew under the direction ofAndrew Laperriere, andRoberto Perli, 47. The analysts’ research is “very thoughtful,” one investor offers, adding that “Andy always has great insights on policy. They do a nice job across the board, especially when it comes to reading whether legislation is going to pass — or not.” Laperriere, 46, says that he and his colleagues are forecasting a Republican Party takeover of the U.S. Senate in November’s elections. If that occurs, they expect energy sector players to reap benefits from that majority’s “proenergy bent.” The U.S. development phase of the Keystone Pipeline System — which is designed to transport oil within and between Canada and America — stands a better chance of being approved, he contends, and drilling services providers will face fewer hurdles on offshore drilling and on hydraulic fracturing, or fracking. Moreover, energy companies would see an easing of restrictions on exports of liquefied natural gas and crude oil with a Republican Senate, the co-leader adds. In health care the strategists foresee the likely removal of taxes on medical devices, benefiting that segment of the industry. Finally, they expect the U.S. Federal Reserve to raise rates in the second quarter of 2015. “The bond market is still far from fully pricing in that scenario,” Laperriere advises, “and will need to adjust significantly, especially at the short end of the curve. Stock prices,” he adds, “usually increase over the course of a Fed tightening cycle.”