The key to outperforming a falling market is immunity to deterioration

The more metals, mining, agrochemical and oil stocks outperform and food producers, media and autos ...

The more metals, mining, agrochemical and oil stocks outperform and food producers, media and autos underperform, the more concerned I become. I want to clarify that this is not due to the shape of my portfolio as although I have no exposure to any of the former, I also have only a small exposure to the latter. It is merely that the sectors that most accurately reflect the state of the European economy are the ones being most punished by the market. Stocks such as Arcelor, Vallourec, Eramet, Yara, Salzgitter and K&S are seemingly immune to a sharp deterioration in economic fundamentals ...