MarketBeat Podcast: It may be time for cloud stocks

Today on The MarketBeat Podcast Kate’s guest is Tom Samuelson, Chief Investment Officer at Vineyard Global Advisors. Tom remains optimistic about investors’ future prospects even as the market reacts to Fed Chairman Jerome Powell’s remarks about the “pain ahead”. In this interview, you’ll hear Tom’s precise predictions of the market’s response to Powell’s comments at the Jackson Hole summit. But Tom also offers several specific ideas about what stocks he’s watching, and why.

-How does Tom define current market conditions, with the worst first half of the year in decades for stocks and bonds?

-How government spending supercharged the stock market in 2020 and 2021, but valuations were eventually corrected when the speculative bubble burst

-How has the Fed rate hike affected the market, especially many technologies, such as cloud companies?

-Why Tom thinks a lot of the bad news has already been ignored at this point, but he also thinks the market is currently overbought and expects a pullback

– “Don’t fight the Fed” is an old adage, and after Jackson Hole, it’s clear the Fed isn’t done raising rates yet – just like Tom predicted in that interview

-Inflation will eventually come down, but investors will have to wait

-How the war in Ukraine created supply disruptions and affected foodstuffs

-What Tom means by “reassessing” stocks

-Why you can look around and spot growing industries, like 5G

-How Tom assesses the growth of his portfolio, using fundamental metrics

-In this type of interest rate environment, why are we seeing equities at reasonable levels?

-Why Tom sees secular growth in the cybersecurity 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 this stage? Tom sees a battle between the macro environment and what the techniques show us

-Why Tom thinks the market has gotten ahead and what investors should be looking for

-Listen to Tom’s prediction of Fed rate hikes – which was absolutely correct!

Actions 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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