Trina Chen & team
Credit Suisse
Credit Suisse climbs from runner-up to No. 3 in this sector, which is expanded from Metals & Mining to mirror the broader scope that many researchers are taking. Team leader Trina Chen, dubbed “an exceptionally insightful analyst” by one buy-side loyalist, and her 19 associates report on some 150 stocks. “We have to face the fact that for a long period of time, every subsector will have excess supply, and there will be producers not making money in every subsector,” says Chen, who works out of Hong Kong. “Investment will be more cyclical as a result, and the positive is that we are at the bottom of the cycle. It is now more important to differentiate companies.” Among the ones her crew currently favors are mining outfits Jiangxi Copper Co. and China Shenhua Energy Co., both of which are based in China and produce commodities — copper and thermal coal, respectively — whose supply has not yet outpaced demand. Chen “is one of the veterans in the space, yet is still doing her models by herself,” marvels one backer. “I always like to reference check with her on the commodities space, as she is very on top of the numbers.” — Pam Baker