Mike Philbrick’s Top Picks for December 6, 2024

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Mike Philbrick’s Top Picks for December 6, 2024
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Top Picks: Harvest Equal Weight Global Utilities Income ETF, Fidelity All-in-One Equity ETF, CI Galaxy Ethereum ETF

The U.S. stock market remains a focal point, with exchange traded funds receiving $150 billion in inflows, a level not seen since 2021. This surge accompanies a record-setting advance in the S&P 500 Index, up over 26 per cent in 2024, pushing valuation metrics like the price to earnings ratio into the ninetieth percentile of the past 40 years. While some call this irrational exuberance, historical precedents remind us that the market can defy expectations longer than skeptics predict.

Globally, geopolitical tensions, notably the U.S.-China dynamics and Middle East unrest, add complexity. Meanwhile, sectors like utilities, and managed futures strategies offer diversification opportunities. Managed futures, in particular, have shown value during volatile markets, providing a layer of portable alpha and risk management.

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