What Goes Up

What generation will drive the consumer economy and create stock-market winners in the post-pandemic world? Lauren Hill, a portfolio manager and analyst at Westwood Holdings Group Inc., says it will be a boom led by Baby Boomers, who have the most wealth and high vaccination rates. She discusses where consumer spending is headed and what stocks are poised to benefit the most. 

Mentioned in this podcast:

Treasury Yields Slip Below 1.5% as Inflation Fears Ebb

Gap’s Deal With Kanye West Starts With a Single $200 Jacket

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They’re baaaaack! Day-trader cult stocks like AMC Entertainment Holdings Inc. are dominating investors’ attention once again, with eye-popping rallies and crashes and even some free popcorn thrown in for those with the gumption to ride the rollercoaster. Kevin Russell, the chief investment officer of the $9 billion hedge-fund manager UBS O’Connor, discusses how his team tries to stay a million miles away from these companies. Russell also details the bull case for China, his outlook on inflation, and some big winning pair trades made at the height of the Covid-19 crisis.

Mentioned in this podcast:

AMC Looks Less Like a ‘Cult Stock’ and More Like an Actual Cult

Meme Mania Rekindles Small-Trader Love Affair With Options

AMC Stock Sale Comes With Warning to Traders: Be Prepared to Lose It All

Biden to Amend Trump’s China Blacklist, Target Key Industries

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Seema Shah, chief strategist at Principal Global Investors in London, discusses the state of the global economy and why the equity rally seems to have hit the snooze button. The U.S. has reached “peak recovery” following the pandemic, she says, yet fundamentals remain strong so cyclical and financial stocks should continue doing well. 

Mentioned in this podcast:

RETHINK THE 40 IN YOUR 60-40 PORTFOLIO

Radioactive Rhino Horns Set to Add to Anti-Poaching Arsenal

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For years, cryptocurrencies were considered fringe investments on Wall Street, but this week a massive intraday plunge in Bitcoin corresponded with a big drop in the stock market. Has crypto contagion arrived in the financial system? Art Hogan, chief strategist at National Securities, discusses this, and reminisces about the crash of 1987 when he found himself knee-deep in ticker tape at the old Boston Stock Exchange.

Mentioned in this podcast:

Bitcoin Rally Was So Huge It Was Worth the Risk-Adjusted Twists

Markets’ Frothy Edge Rattled in Rough Day for Bets on Innovation

Bitcoin Whipsaws Investors With Same-Day Plunge, Rally of 30%

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A shockingly high reading in the consumer price index landed with a bang in markets this week. Zachary Griffiths, a macro strategist with Wells Fargo, joined the “What Goes Up” podcast to discuss what inflation pressures he’s got his eye on and why he doesn’t think the latest numbers will cause the Federal Reserve to begin tapering its pace of asset purchases before the beginning of next year.   

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Vincent Deluard, director of global macro strategy at the brokerage StoneX Group, discusses how Mexico and Canada may be primed to benefit from the continued reopening of the U.S. economy following the pandemic.

Mentioned in this podcast:

Did Capitalism Kill Inflation?

Space Aged: Bottle of Wine from Space Station Could Sell for $1 Million

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Greg Jensen, the co-chief investment officer for the hedge-fund manager Bridgewater Associates, discusses this week’s Federal Reserve meeting and the firm’s approach to identifying excesses and bubbles in financial markets.

Mentioned in this podcast:

Fed Upgrades View of Economy While Keeping Rates Near Zero

Powell Breaks Out the ‘Froth’ Word When Asked About Markets

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Liz Ann Sonders, chief investment strategist at Charles Schwab, joined the latest episode of the “What Goes Up” podcast to discuss what appears to be a shift in focus among the crowds of new day traders who were so influential in the U.S. stock market earlier this year. Says Sonders: “Really since mid-February, we've seen a shift — believe it or not — back toward some semblance of fundamentals driving stocks; a bit more of a quality bias, profitability bias, a little bit of a valuation bias.”

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Economic growth in 2021 is forecast to be unlike anything seen in the last several decades as the world begins to return to normal following the Covid-19 pandemic. Gaurav Mallik, chief portfolio strategist at State Street Global Advisors, joins the latest “What Goes Up” podcast to discuss what to expect and how he’s advising investors to allocate portfolios. 

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He was one of the first money managers to deploy factor-investing strategies at his firm Gerstein Fisher, but now Gregg Fisher is trying something new: A quantitative approach to picking stocks of innovative small-cap companies at his new shop Quent Capital. Fisher joined this week’s “What Goes Up” podcast to discuss why he’s shifting to a more-active style of investing and how, despite his subsequent success, he wishes he could buy back that old drum set he sold for $900 in order to purchase a computer and start his first firm in the 1990s.

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