Opinions
David Burrows
SPDR S&P Insurance ETF
KIE-N
BUY
Apr 03, 2024
$51.250
Stock price when the opinion was issued
E.T.F.'s
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BUY
Financials have been slower to recover, only gaining strength in September-October. Still have a long way to go. If you believe we had a generational low in long-term interest rates, and we're just entering a reflationary cycle, insurance companies benefit as assets go up in price. Higher rates are really good. Also interesting are KRE and KBE. Most interesting is IAI, making new highs. As a group, financials have underperformed since 2007, so they should now have a tailwind in this environment.
E.T.F.'s
In his ETF long/short fund, financials are his second-biggest weighting. XLF includes BRK.B, Visa, JPM, a few regional banks, asset management companies, P&C companies. All are performing well right now. Only made a new high in the last year, start of a new, longer-term bull market.
KIE also looks really good, the insurers. KCE includes asset managers and investment banks, also good.
See his Top Picks.