The Top RPs in Each Sector

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New York – While the previous blogs have so far dealt with overall returns to measure the performance of research. Today we look at the top firms in each sector to identify those companies that have racked up the best performance in particular sectors.

The table below shows all of the top three companies in each of 10 sectors, including Oil & Gas, Basic Materials, Industrials, Consumer Goods, Healthcare, Consumer Services, Telecommunications, Utilities, Financials, and Technology.

Returns of the Buys less the Sells for each Sector
Period ended June 30, 2007, in basis points per day

Sector / Rank Company Return
Oil & Gas
1 Ladenburg Thalmann 35.7
2 SunTrust Robinson Humphrey 28.6
3 Breakaway Research 21.3
Basic Materials
1 Brean Murray Carret 69.9
2 Sterne Agee & Leach 37.7
3 When2Trade 33.7
Industrials
1 Cantor Fitzgerald 48.6
2 Hilliard Lyons 41.2
3 Maxim Group 30.8
Consumer Goods
1 Longbow Research 73.3
2 Hilliard Lyons 59.5
3 Taglich Brothers 41.1
Healthcare
1 Wedbush Morgan 53.5
2 Hilliard Lyons 25.6
3 Caris & Company 24.7
Consumer Services
1 BWS Financial 265
21 Merriman Curhan Ford 53.3
3 Cantor Fitzgerald 49.1
Telecommunications
1 Morgan Joseph 73.1
2 WR Hambrecht 46.6
3 Stanford Research 38.9
Utilities
1 Nollenberger Capital 270.8
2 Buckingham Research 55.8
3 Beacon Equity Research 35.0
Financials
1 Wasserman Morris & Co. 108.1
2 Morgan Joseph 92.8
3 Taglich Brothers 69.3
Technology
1 Taglich Brothers 69.1
1 Rodman & Renshaw 69.1
3 Susquenhanna Financial 38.1

Firms that are the best in each sector, or are in the top three have made impressive research calls over the one year period covered. However, an even more impressive research recommendation performance is to be in the top three in more than one sector.

Those RPs with two top three finishes include: Cantor Fitzgerald, which came in 1st in Industrials and 3rd in Consumer Services; and Morgan Joseph, which came in 1st in Telecommunications and 2nd in Financials.

Those RPs with three top three finishes were Hilliard Lyons, which got a 2nd in Industrials, a 2nd in Consumer Goods and a 2nd in Healthcare; and Taglich Brothers, which came in 3rd in Consumer Goods, 3rd in Financials and 1st in Technology.

Hilliard Lyons is an investment bank which uses a fundamental approach to cover a modest number (131) small cap companies in the Consumer Goods and Services, Financials, Healthcare, Technology and Telecommunications sectors. Taglich Brothers is also an invesment bank that uses a fundamental approach to cover a small number (39) of small cap stocks across all sectors.

Note: The  performance data for this study is from Investars. The analysis and conclusions drawn are those of Integrity Research Associates.

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