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Stock Opinions by Stephen Weiss, Founder, Short Hills Capital Partners

COMMENT
As bearish as he is, he's been expecting a bounce like today. Volatility remains high and he will remain bearish. Inflation will persist as well lower earnings revisions. But now you can buy stocks selectively, just not wholesale.
Unknown
BUY
Has lightened his holding (and all his stocks) because of this market, but it remains one of the cheapest stocks out there with a lot of cash in order to buy another company. Their drug pipeline continues to grow. It's the best biotech out there.
Pharma & Healthcare
COMMENT
Hold cash He doesn't see a turnaround, but we are due for a short-term rally. Sentiment is bearish. He expects inflation to stay stubbornly high, given the war in Ukraine and supply chain issues. Today's jobs report with wages rising 5% was amazing, but inflation is 8%. You can sell the market on pops. Until the market rolls over, he isn't buying.
Unknown
DON'T BUY
Meta has been decimated by Apple's policies. And they're in an investing mood, so there's less cash. Also, the consumer is living paycheque to paycheque where costs have outpaced wage raises.
0
COMMENT
GXO blew out top and bottom line numbers yesterday, growing like a weed and their raised their forecast. Shares went up yesterday and yet are down 5% today. Earnings don't matter--we're in a bear market.
INDUSTRIAL PRODUCTS
DON'T BUY
Pinduo is still growing, but it has slowed. You want to own a company that will be de-listed in a year and a half?
Technology
SELL
He sold Dick's Sporting Goods because it keep bleeding. It round-tripped for him. He sees the consumer losing spending power due to high inflation.
merchandising / lodging
COMMENT
Cash He's shorting the QQQ stocks and the S&P, given the Fed's hawkish stance (pressuring stocks today) and now an alternative to stocks--bonds with yields near 3%. Don't fight the Fed; don't buy when markets dip. Instead, build and hold cash like he is. There will be better times. Deploy more capital by buying the bottom or protect your capital? He's doing the latter.
Unknown
COMMENT
He has short calls on Apple. The market is brutal on the downside and not rewarding the upside. The economy is good now, but not later, because the Fed is tightening and it can't control the supply chain or oil. He's overall bearish.
electrical / electronic
DON'T BUY
It's a cyclical stock and not a growth company. If car demand slows down--and it will--CLF will suffer, despite a good CEO. He sold this in the mid-20s.
steel
SELL
He sold Delta when the getting was good and made 17%. It's a great time to take profits on stocks with profits. You don't go long-term with airlines. He's glad to be out. Delta is hedged, unlike most of its peers. But the gains have been made already.
Transportation
BUY
It's grossly undervalued. They have a lot of exposure to Apple. With hot inflation, he fears that consumers will spend more on groceries and gas, and less on $1,000 phones. But Skyworks is selling at private equity multiples, which makes it attractive.
electrical / electronic
COMMENT
Has inflation peaked? If it has peaked, interest rates still need to rise meaningfully. The Fed will keep tightening regardless. Another worry is Putin--suppose he uses chemical weapons or tactical nuclear weapons. Earnings will come under pressure, so what will happen them? We didn't see a peak inflation rally recently, but a bear market rally. As for a strong consumer, the consumer isn't that strong. Rather, they're fighting to stay alive in this 70% consumer-spending-driven economy.
Unknown
DON'T BUY
Musk won't be able to buy it and the SEC won't allow his takeover anyway. Plus, there's no value in Twitter to a private equity firm or a public company to buy it. Twitter has been on the block for years.
0
BUY
The only reason to own the banks if if you believe the yield curve will steepen, and he does. The banks have put up good earnings. No surprise that banking volumes were down in the last quarter. He's staying with this stock which reported a great quarter relative to expectations. BAC capitalized on the trading environment. If their loan growth was negative he would have sold it, but they reported very well.
banks
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