Ms. Cavanaugh is a Portfolio Manager and an Analyst in the Equity Research group, focusing on the global
financial and U.S. health-care sectors. She is a Portfolio Manager of Putnam Focused Equity Fund and
Putnam Research Fund. As an Analyst, Ms. Cavanaugh is responsible for conducting fundamental
analysis, developing insights on material sustainability issues, assessing valuations, and making buy/sell
recommendations for companies in the global investment banking, global brokerage and insurance,
alternative asset management, and managed care industries. She joined Putnam in 2011 and has been in
the investment industry since 1995.
More from the Equity team
In our view, despite the elongated pandemic and fears about inflation, the bull market remains intact, supported by strong earnings growth and higher-than-expected P/E multiples applied to those earnings.
For franchised U.S. auto dealers, consolidation and the e-commerce imperative could mark the biggest changes to the industry’s structure, possibly ever.
A successful risk team is one that can analyze multiple measures of risk and work with investment teams before trades are executed to capture alpha.
When focused on diversification one asset class that is often overlooked is non-U.S. small-caps.