Today at The MarketBeat Podcast Kate’s guest is Tom Samuelson, chief investment officer at Vineyard Global Advisors. Tom remains optimistic about investors’ prospects going forward, despite the market’s reaction to Fed Chair Jerome Powell’s words about “pain ahead.” In this interview, you’ll hear Tom’s accurate prediction of the market’s response to Powell’s comments at the Jackson Hole summit. But Tom also offers some specific ideas about the stocks he’s watching, and why.
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-How does Tom frame current market conditions, with the worst first half of the year in decades for both stocks and bonds?
-How government spending boosted the stock market in 2020 and 2021, but valuations later corrected as the speculative bubble burst
-How has the Fed rate hike affected the market, particularly many tech, such as cloud companies?
-Why Tom believes most of the bad news has been discounted at this point, but he also believes the market is currently overbought and expects a pullback
-“Don’t fight the Fed” is an old saying, and after Jackson Hole, it’s clear the Fed isn’t done raising rates- as Tom predicted in this interview
– Eventually inflation will come down, but investors will have to wait for it
-How the war in Ukraine created supply disruptions and affected food prices
-What does Tom mean by “revaluing” stocks
-Why you can look around and see growing industries, like 5G
-How Tom evaluates growth for his portfolio, using key metrics
-In this type of interest rate environment, why do we see stocks at reasonable P/E levels
-Why Tom sees secular growth in the cyber security industry, despite stocks still looking expensive, in terms of valuation
-What is the “pick and shovel” analogy and why does it apply to stocks today? In which industries does Tom see this happening?
-How should investors approach the markets at the moment? Tom sees the battle between the macro environment and what the technicals are showing us
-Why Tom thinks the market is ahead, and what investors should be looking for
-Listen to Tom’s prediction about Fed rate hikes- which is absolutely correct!
Stocks mentioned in this episode:
Twilio (TWLO)
American Tower (AMT)
ServiceNow (NOW)
CrowdStrike (CRWD)
Palo Alto Networks (PANW)
Freeport McMoRan (FCX)
Aptiv (APTV)
How to learn more about Vineyard Global:
https://www.vineyardglobaladvisors.com/
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