Regarding recession, developments have increased the attention being paid to it e.g. Geo-political, inflation. He hopes for the best but be conservative and invest in high quality companies and maybe have a cash cushion. For the tech group be under-weight or on the sidelines. It has had a great run and may be in a 'pause' mode. There are still good opportunities but be selective. Healthcare and Energy which had fallen behind have re-asserted themselves and it looks like the markets are gravitating to new leadership.
An innovative company based in Switzerland. Makes chemicals and adhesives for construction. It has recently under-performed and is in the process of closing an acquisition. Cost of raw materials is higher. He likes it but is staying on the sidelines. It needs a catalyst.
It is in the IT consulting space. There are very few global companies like this to provide this kind of advice. It's a 'steady-eddy' business but what happens with commodity prices and cost of labour. There is some moderation of corporate profits so wait for margins to stabilize. It will be interesting when a soft landing is in site.
other services
It is mostly a wealth management and investment bank so it is affected by the movement in the bond and stock markets.The wealth management part will be affected by losses in asset reduction under administration. Both components need to see stability regarding macro concerns. Keep an eye on the IPO calendar for numbers as well as corporate debt levels.
investment companies / funds
Regarding the price to sales part of the question he feels this metric is controversial as it is hard to determine whether the price is too high or too low. It is a very good company and he bought the IPO spin-off from Pfizer. It is in animal health and there are concerns over its valuation. Many similar companies in human health trade at lower valuations and are growing nicely. It has outperformed for a long time so it may be ready for a break. Wait and watch for people to gravitate to animal health.
Consumer Products
It is in cybersecurity, is one of the most interesting companies, and has a good product. Crowd is getting a good market share. Palo Alto is a growth stock but he is a value investor.
(A Top Pick Aug 06/21, Down 15%) Frustrating stock move movement because it is in healthcare and is the second largest producer of endoscopes and eye glass lenses. However the market is gravitating towards pharmaceutical. Also a smaller part is tied to the tech space which is doing well and could be doing even better when techs improve. He is a long term holder but doesn't know the long term catalysts.