hould investors look through it? Repatriation holiday Good step to a territorial system, but not a substitute Finding Domestic S&P 500 stocks. Both Domestic Cyclicals & Defensives 2015 S&P gains now PE expansion dependent S&P 500 Industrial Capital Goods: High risk. low reward we prefer Tech Seven Signs 2 Red, 4 Yellow. 1 Gr

should investors look through it? Repatriation holday: Good step to a territorial system, but not a substitute Finding Domestic 66P 500 stocks Both Domestic Cyclicals & Defensives 2015 S&P gains now PE expansion dependent S&P 500 Industrial Capital Goods High risk, low reward - we prefer Tech Seven Signs. 2 Red, 4 Yellow, 1

should investors look through it? Repatriation holday: Good step to a territorial system, but not a substitute Finding Domestic 66P 500 stocks Both Domestic Cyclicals & Defensives 2015 S&P gains now PE expansion dependent S&P 500 Industrial Capital Goods High risk, low reward - we prefer Tech Seven Signs. 2 Red, 4 Yellow, 1

ould investors look through it? Repatriation holiday: Good step to a territorial system, but not a substitute Finding Domestic S&P 500 stocks: Both Domestic Cyclicals & Defensives US equity strategy 2015 Outlook * Chartbook publications EFTA01476541 Source: Deutsche Bank Research Title 8-Nov-15 2015 S&P gains now PE expa