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Although, if I were to take a trading shot, I'd short the consumer goods sector. Stocks like Coca Cola & PnG are still at their highs. IMO, it's just a matter of time before they come back to the pack.
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This is nearly a year old, but Coke sells a ton outside the US.
72% as of last year
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Correct - a number of major institutional investors are pursuing a strategy based on the decoupling of the united states and the rest of the international economy.
the general execution is to sort the S&P by % of sales outside the united states, buy a basket of these and hold. Or do this along with shorting SPX for obvious reasons.