The Wise Investor Show - Baird

Simon discusses the recent ebbing of the stock market rally off the June lows. He suggests a trading range might take over where selectivity, discipline, and a heightened focus on fundamentals, particularly free cash flow generation, will increasingly come into play. He brings on Nick to discuss the key takeaways and impacts from the Inflation Reduction Act. Companies mentioned in this episode include MTK, ABBV, GNRC, AAPL, DHR, AMZN, APTV, NN CVX, XOM, and JNJ.

Today Chase talks about the sustainability of a large market rally since June and with Vasilios Rajendra, they look at the fundamentals of various retail names, as well as talking about the efforts of an activist shareholder of Disney. Companies mentioned in this episode include LOW, DIS, HD, GM, and NFLX.

Simon discusses the very confusing economic backdrop and suggests that the stock market bounce off the June lows could reflect expectations for a more benign slowdown. He makes the case for APTV, BRKB, and DIS as superior operators in a challenging environment. Greg helps to examine the big picture and how support is coming from some unlikely sources.  Companies mentioned in this episode include BRKB, DIS, APTV, AAPL, and NFLX. 

After seeing an oversold market in June, we saw a huge recovery in July. This week we look at what's driving the rally and if it still has potential. Then, a review of mixed reports on Generac. Companies mentioned in this episode include GNRC.

Simon discusses how the market decline has moved into a new phase focusing more on company-specific execution and outlook. This should increasingly reward the superior operators that have been lumped in with some of the indiscriminate selling over the first half of the year. He brings on Matias Rodlauer to review encouraging earnings reports from DHR, V, and GOOGL. Companies mentioned in this episode include DHR, V, GOOGLE, AAPL, MSFT, AMZN, WMT, and PG.

We're not ready to bet on a bottom but we can look at the data and show why we're likely to see a rally through the summer and maybe more. Also, a look at the merits or lack thereof for ESG investing. Companies mentioned in this episode include DHR, AAPL, INTC, GOOGL, META, and DUK. 

Simon discusses how a well-positioned U.S. consumer is a current silver lining. He then talks about bonds and how investors have been selling precisely at the time they should be considering. He brings on David Mount to review some specific fixed-income strategies and asset classes within that make sense in a possible rising rate and continued inflationary environment. Companies mentioned in this episode include C and JPM. 

Simon explains from multiple perspectives how difficult it is to quantify what risks are discounted in current stock prices, but guesses that the bottom may not yet be in. He brings on Ann Summerson to discuss the ins and outs of 529 College Savings Plans, including some new wrinkles with respect to financial aid eligibility. Companies mentioned in this episode include JPM.

The year is half over, and so far it's been historically bad. This week we review how this fits in history and try to gain some perspective from the past, and then review 3 companies from the portfolio.

Simon discusses which stock market risks could already be discounted in prices. He suggests valuation multiple compression is well underway but how stocks still need to properly account for the likelihood of declining earnings. He brings on Dan Clifton, Head of Policy Research at Strategas, to discuss the relationship between government policies and the markets and how to appreciate the message of the markets over forecasts. Companies mentioned in this episode include AAPL, JPM, and GM.