CIO at Boston Private
Member since: Dec '21 · 157 Opinions
This holds growing dividend stocks, weighted towards higher yields, so it's attractive as yields on the cash side decline.
There's a huge market for the weight-loss drug. Also, LLY has a strong drug pipeline: ulcerative colitis, Alzheimer's, for instance.
Long-term supply and demand will support energy stocks, but now the commodity is range-bound. Stronger demand from China and geopolitical concerns will raise energy prices and stocks.
Healthcare has been weak this year, but next year it can play offence and defence.
It's good news that they just reinstated the dividend. It re-establishes credibility among shareholders. They will remain disciplined in growing Disney+ and won't cannabilize all their cash flow to do it.
It's in a league of its own, but there was a big concern where the semis would have excess inventories. It comes down to execution in the face of lower demand and a slower economy. Going into 2024, look at what Nvidia will align with, such as data centres, the number of which will likely decline. The semis space won't see a rising tide lifting all boats, despite a secular tailwind.
Given all the economic uncertain, the agriculture sector isn't willing to invest in capital equipment (i.e. Deere), so this sector lacks investor excitement.
Healthcare has had a rough year, but economic softening could lead to a rotation back into this sector.
It reported a strong beat, and it reflects the middle-income consumer. High-income consumers haven't changed their spending, and low-income spenders are facing a lot of pressure, as seen in Dollar General's performance. This reflects the trade down and like has more momentum ahead
Pays great tax-equivalent yields. There's much more stability in municipalities than in other potential slowdowns.
They need to quiet the noise. The narrative is all over the place, which is why they're taking out Hulu. They need to quiet the noise on ESPN. The theme park capex is meant to quiet the noise.
Utilities bottomed around Oct. 2. Withe change in the yield curve, she's buying more utilities and REITs to get yield.
There's a chance at margin re-capture in 2024 as inflation declines.
The Yen will remain suppressed while valuations won't be as demanding in Japan as in parts of the US market.
There's a shorter-term trend on rotation, and a longer-term trend based on a secular tailwind on electrification.