Listen and subscribe to Stocks In Translation on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. In this episode of Stocks In...
sit down with Kevin Mahn , president and chief investment officer of Hennion & Walsh. The discussion delves into topics including dot plot s, bull markets , and backdoor AI investment plays.
Finally, they dive into the seven top-performing industry groups this year, including utilities, which have returned more than 20%. Well, as a portfolio manager, I would start by saying the short term outlook, at least for me is cloudy, but the long term outlook becomes much clearer. So the market peaked in October or something of 2007 and then a year later, uh it was still doing pretty well, but the stuff had not really hit fully the fan yet.Uh I think market finally bottomed in March of 2009.I mean, my biggest worry is that the fed arrived too late to the party once again.
So not every fed regional bank president votes on every monetary policy uh in each meeting, but they do get their voice heard through these.So just your, your first blush thoughts about the dot Plots.They change as much as the forecast for the weather does. And then of course, he comes out like he's the, the coach of the New York Jets at the end of the game and has to deliver a press conference and account for why they did or didn't do something or account for why Aaron Rodgers threw three interceptions yesterday and the Jets lost.One or two decades old.
So for all of those economists and all of those investors who rely upon the dot Plot chart, take it with a grain of salt.But with, but then you hear that officials, people trying to match them up and it's this big game that people like.Well, that's a deep philosophic, you know, transport to a degree average Joe here just asking, you know, it is like way back in the day.
Well, if the they're truly looting the way leading, the way you'd see the dollar go down is this risk aversion? We don't want them all just marching to the same drum breed if in fact, they don't agree with that drum beat. So just as a reminder when we classify stocks at the very top level, we have sectors below that, we have industry groups and then just industries.So far in 2024 they're up 30% utilities up 27% insurance, 26% food and staples stuff.
You now see in this category, you see its communication services alphabet Netflix, Verizon altogether.But what are you telling clients about investing in A I right now?If I could draw the analogy to baseball, I would suggest that we're in batting practice of a double header.And there's gonna be more companies that fail than succeed as they try and align themselves with A I, whether they're an enabler or adopter of A I.I often get asked the question across the country.
So what we try and do with each one of our clients is build a portfolio that's consistent with their goals and objective is it income is it, growth is the combination for each, what's their investment time frame. Now, I don't know when those ones are gonna be, you know, you get the big 5% days after the big 5% down days when they occur, you need to stay invested.This is something that we're gonna have to define.Quant factors are measurable financial metrics used by quantitative investors to evaluate stocks to improve portfolio performance and reduce risk through systematic analysis.
So we're looking for those companies that now are trading at reasonable multiple have strong balance sheets and often paid dividends.We're not abandoning growth, but we're now taking some of the month chips off the growth table and moving it into value for someone who has a very long runway, someone in their twenties and thirties like me, should they be rotating into value or should they keep with those growth names?Because I know a lot of young investors who are very risk averse.
I had two young girls at that time, I was leaving at 558 in the morning, getting home at seven o'clock at night.And I was very fortunate to meet one of the partners from Henon and Walsh's brother at a cocktail party in my hometown.Uh We wanna make sure that you check out all our other episodes of stocks and translation on the Yahoo finance site as well as the mobile app and your favorite podcast providers.
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