< The 2016 All-Europe Research Team

Total Appearances: 8

Team Debut: 2007

Sanford C. Bernstein earns top honors on this list, as it has done every year since 2011. Working solo from his base in Singapore, Max Warburton “has a broad purview, which is extremely helpful in such a globalized sector,” remarks one portfolio manager. The 41-year-old researcher tracks 17 autos and auto parts companies — seven in Europe and ten in Asia. Germany’s Volkswagen is one of the names he tracks in this space. In October, though its shares had fallen 26 percent in the month since the automaker admitted to deceiving U.S. environmental regulators about the air pollution emitted by its diesel-powered cars, Warburton reiterated his outperform rating on the company. His proprietary survey of European dealers, retail executives and fleet buyers revealed that fears of major contagion were overblown. Outside Germany, he noted, “consumers either don’t fully understand the issue or don’t care.” By mid-January, Volkswagen’s stock had rallied from €118.60 to €120.35, and he continues to favor it, with a price objective of €160. “His research is more thematic and educational than knee-jerk,” remarks another backer. Looking ahead, Warburton is bearish. “We’re near peak earnings,” he explains, of the industry overall. Slow sales growth and rising supplies from China and North America will make pricing “get ugly quickly,” he warns. Clients are listening. “Max strips away the noise and dishes out market-moving insights,” holds a third investor.