Pat: I am a new Inner Circle member. Can you explain why you designate REITs as manufacturing-sector investments? In other publications, REITs are often considered part of the financial-services sector. Thanks for your advice.

One key criteria for deciding if a company falls into the manufacturing sector is whether it behaves in a cyclical or non-cyclical manner. A manufacturing company is subject to the ups and downs of the economic cycle. In contrast, consumer firms benefit from continuous and… Read More