📄 Extracted Text (217 words)
9 Equity Sectors
An "Appreciation" for Innovation and Demographics
Tech Valuations Attractive Solid Earnings Growth Expected
2.6 2016 Earnings Estimate
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— S&P 500 Info Tech FIE (LTM) Relative to S&P 500 P/E (LTM)
- (AVG) S&P 500 Info Tech PIE (LTM) Relative to S&P 500 P/E (LTM)
— Technology is one of our favorite sectors due to - From an earnings perspective, consumer
attractive valuations and fundamentals. discretionary, info tech and financials are
— In fact, valuations are well below average versus expected to be the leaders in earnings growth.
the S&P 500.
Footnotes: Data is as of December 31, 2015 Footnotes: Data as of December 2016.
Source: FectSet, Deutsche Sank Wealth Management Source FactSet. Deutsche Bank Wealth Management
Deutsche Bens
Wealth Mormqement 24
CONFIDENTIAL — PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 120285
CONFIDENTIAL SDNY_GM_00266469
EFTA01459676
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