Barron\'s - 02.09.2019

September 2, 2019

CONTENTS 09.02.19 VOL.XCIX NO.

Review & Preview P. 8

Index P. 10

Mailbag P. 31

Charting the Market P. M

Winners & Losers P. M

13D Filings P. M

Research Reports P. M

Market View P. M

Cover Illustration by

Israel G. Vargas

©2019 Dow Jones & Company, Inc. All Rights Reserved.

Our newspapers are 100% sourced from sustainable certified mills.

BARRON’S (USPS 044-700) (ISSN 1077-8039) Published every

Monday. Editorial and Publication Headquarters: 1211 Avenue of

the Americas, New York, N.Y. 10036. Periodicals postage paid at

Chicopee, MA and other mailing offices. Postmaster: Send address

changes to Barron’s, 200 Burnett Rd., Chicopee, MA 01020

S&P 500 Index

Jan ’19 March May July

2250

2500

2750

3000

3250

Sept. Nov. Jan. ’

Sources: Bloomberg; FactSet

Lori Calvasina / RBC Capital Markets Edward Yardeni / Yardeni Research

Saira Malik / Nuveen Dubravko Lakos-Bujas / J.P. Morgan

Richard Lacaille / State Street

1. 
   

1. 
   

2. 
   

2. 
   

3.0%

10-Year Treasury Yield

Jan ’19 March May July Sept. Nov. Jan. ’

P. 13

What’s Ahead for the Market?

Our five top Wall Street strategists have different forecasts for stocks, bonds, and

the economy. But all agree on the need for investors to stay nimble. Which sectors to

buy—or avoid.By NICHOLAS JASINSKI

P. 11

Other Drugmakers

May Follow J&J’s Lead

The opioid ruling against

Johnson & Johnson, while not

legal precedent, could prompt

other drugmakers to settle claims.

By JOSH NATHAN-KAZIS

P. 15

Two Hedge Titans’

Reinsurers to Buy

Daniel Loeb’s Third Point Re and

David Einhorn’s Greenlight

Capital both look cheap, and

each has its charms.

By ANDREW BARY

P. 16

ANewWaytoTreat

Diseases—if It Works

Cover Story: Scientists hope that

drugs made from messenger RNA

will offer the benefits of targeted

gene therapy with less risk.

By JOSH NATHAN-KAZIS

P. 21

Insights That Stock

Screens Can’t Match

Profile: The MFAM Global

Opportunities fund draws its

strength from the collective brain

power of its diverse workforce.

By LEWIS BRAHAM

P. 24

Don’tMakeThese

401(k) Mistakes

Whatyoudowithyour

retirement savings when you

switch jobs can be crucial to your

long-term financial security.

By SARAH MAX

P. 28

Growth Companies in

the Cannabis Field

Q&A: Rob Fagan of GMP

Securities thinks U.S. pot stocks

are a better bet than their Canadian

peers, despite the legal hurdles.

By BILL ALPERT

P. 5

Score One for Good

Ol’ Diversification

Up&DownWallStreet:

Balanced portfolios held steady in

a turbulent month. Muni funds

with better yields than Treasuries.

By RANDALL W. FORSYTH

P. 7

AMarketRipefor

Humpty-Dumpty Deals

Streetwise: CBS and Viacom

and Altria and Philip Morris might

find that it isn’t so easy to put

themselves back together again.

By ROBERT TEITELMAN

P. 22

Funds:This “Safe”

ETF Carries Risks

By STEPHEN GANDEL

P. 26

Tech Trader:

Activision Is Back in

theGameWith World

of Warcraft Classic

By TAE KIM

P. 27

Economy:Refinancing

Could Roil Bonds

By MATTHEW C. KLEIN

P. 30

Current Yield:Coping

With Negative Rates

By JAMES GRANT

P. 31

Income Investing:

Pockets of Strength

for Yield Seekers

By ALEXANDRA SCAGGS

P. M

The Trader:Stocks

Surge Heading Into

Labor Day Weekend

By BEN LEVISOHN

P. M

Euro Trader:ABig

Break for Cineworld

By CALLUM KEOWN

P. M

Emerging Markets:

Brazil’s Pension Reform

Fails to Boost Stocks

By CRAIG MELLOW

P. M

Striking Price:How to

Profit if Stocks Sink

By STEVEN M. SEARS

P. M

Commodities:Trade

Tensions Thrash

Grains and Iron Ore

By MYRA P. SAEFONG

VOL. XCIX NO. 35 SEPTEMBER 2, 2019 $5.

FALL FORECASTS FOR STOCKS AND BONDS • PAGE 13

63142 >

MessengerRNAseekstomakethebodyitsown

drugfactory.Cantheupstartspullitoff?

PAGE 16

...IfIt

Works

Biotech’s

Next

Revolution...