< The 2015 All-America Research Team
Ali Dibadj
Sanford C.
Bernstein & Co.
First-Place Appearances: 8
Total Appearances: 12
Analyst Debut: 2008
Sanford C. Bernstein’s Ali Dibadj captures top honors on this revised roster, which combines coverage of the previously separate Beverages and Cosmetics, Household & Personal Care Products sectors. He earned first place on both of those lineups last year, marking his sixth straight No. 1 on the latter list. “Ali is not afraid to ask management teams the tough and direct questions when they are not executing,” one fund manager observes. “He integrates the macro environment and expectations for changes in consumer buying behavior into his investment ideas. In a world where most investors have a 30-day-or-less investment cycle, Ali is focused on where he thinks the company will be one and two years from now, not where it is today or in the next quarter.” Dibadj, 40, continues to hold an optimistic view of New York–based cosmetics and hair care producer Estée Lauder Cos. He turned bullish in April 2014, reasoning that the manufacturer’s market in China would improve, the U.S. would stabilize and margins would continue to improve. Since then he has repeatedly reiterated his stance, even throughout the political protests in Hong Kong late last year, encouraging investors to stick with the stock through its dips. In April 2015 — with the stock up 27 percent for the trailing 12-month period, at $83.62, and ahead of the S&P 500 by 16.2 percentage points — Dibadj named Estée Lauder his top pick in the household and personal products space. Despite ensuing pressure on the shares from management’s downward revision to its long-term operating margin outlook, as well as a general market sell-off, they posted a 17.9 percent gain from April 2014 through the middle of last month, to close at $77.64, compared with the broad market’s 5 percent advance over the same period.