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COMMENT
Today's jobs report was better than expected. He does not agree that good news is bad news (strong employment is bad news). Sure, we worry about inflation, but he sees a soft landing by the US Fed. For more than a bear market rally, the Fed needs to back off and it won't until inflation weakens. Next week comes more inflation data. All rallies are suspect until there is lower inflation, but he feels that inflation has indeed peaked. Inflation should be well on the way down in a couple months. He projects the S&P to finish at 4,896 by year's end.
BUY
Is down a lot YTD, but he still likes it. Cars make up over 50% of their business. Car demand is high and will stay so, because the average age of cars is 12.2 years, so they will wear out. We need to build more cars and there's demand for them. Their free cash flow yield is 34%. Amazing. They're buying back shares.
steel
COMMENT
tech stocks She owns all the FAANGs. There will be lower GDP growth, which will mean a rotation from cyclicals to traditional growth stocks. But be careful. Secular growth in the US will be driven differently this time. Focus on companies that help other companies become more efficient. Don't limit yourself to software. Also, tech will be hit by currency concerns.
