As investors seek to structure an all-weather portfolio that can thrive through the pandemic, looking for companies that have allocated wisely to capital expenditures and research and development might be a good place to start.
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Big spenders aren’t always efficient. Though Tesla spends a lot on capital expenditures and research and development, Bank of America’s RIC team ranked it in the bottom 10% of the 483 stocks it analyzed to look at the share of the revenue that could be linked to research investment in recent years.
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