Top Picks from John Hood, president and portfolio manager, J.C. Hood Investment Counsel
MARKET OUTLOOK:
Recent market exuberance has been driven by the recent benediction of the ‘Magnificent Seven,’ now including Nvidia and Tesla, and by the insidious market disease called FOMO or the fear of missing out. AI has shoved the S&P 500 up 14 per cent this year, well into bull market territory since October 2022. Nvidia has nearly tripled this year. Markets have been fixated on the U.S. Federal Reserve’s determination to drive inflation down to two per cent .
So what do we do? Since our portfolios are already 60 per cent equities/40 per cent cash and bonds, we are waiting for a general market decline as an opportunity to buy the S&P 500 but in the interim we have been buying six-12 month T-bills at 4.95 per cent. True that’s less than some GIC rates but I prefer the safety and liquidity of T-bills.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Greg Newman's Top Picks: June 27, 2023 - BNN BloombergTop picks from Greg Newman, senior wealth advisor and portfolio manager, Newman Group, ScotiaMcLeod
Read more »
Top 10 zero-proof picks and meal pairingsSober curious? From near beers to mocktails, here are satisfying alternatives that compliment the tastes of summer
Read more »
Stephen Takacsy's Top Picks: June 28, 2023 - BNN BloombergTopPicks from Stephen Takacsy, president, chief executive officer and chief investment officer, Lester Asset
Read more »
Canadiens deal draft picks, Fairbrother for Colorado’s Alex NewhookAvalanche trade Alex Newhook to Montreal Canadiens for late-first and early-second round picks
Read more »
Avalanche trade Alex Newhook to the Canadiens for late-first and early-second round picksThe Colorado Avalanche traded young forward Alex Newhook to the Montreal Canadiens for a late first\u002D and an early second\u002Dround pick.
Read more »
Canadiens acquire Alex Newhook from Avalanche for picks, prospectThe Canadiens have acquired 2019 first-round pick Alex Newhook ahead of Wednesday's NHL draft.
Read more »