Market concentration rewarded passive investors who held market weights in the surging mega-caps. Since late 2014, passive index returns ranked in the 10th percentile of all portfolios in eVestment’s US Large Cap Growth Equity universe. In other words, only 10% of active managers outperformed.

Over years, the US cemented its position as an exceptional source of earnings growth that fueled outsize equity returns. Many investors are now questioning whether the US will retain its advantages as President Trump’s trade policies add uncertainty to the outlook across industries.

Technology stocks have been the poster child for growth in recent years. Other sectors deserve a closer look today.

What should equity investors look for to find companies with strong economic profits, backed by clear business advantages?

Growth stocks are under acute pressure as rising interest rates change the dynamics that drive equity valuations.

As an unprecedented number of US companies suspend earnings guidance, equity investors should rethink the overly precise game of predicting short-term estimates.

Technology unicorns are in the spotlight, with Uber’s high-profile IPO expected this week. As scrutiny of their business models intensifies, we think investors should also ask tough questions about publicly traded companies with high sales growth but scant cash flows.

US corporate debt has surged over the past decade. As rates begin to rise from historic lows, focusing on quality companies with healthy balance sheets can help equity investors avoid danger zones.