He noted that its share price has pulled back from its highs, and now looks "attractive" as a longer-term investment. "With cyberattacks around the world that's going to continue, I don't see them really having a problem getting more business and continuing the business that they have," he added. It is a leading player in consulting but more importantly in tech consulting, which is cybersecurity, artificial intelligence, and defense," Landsberg said. The one customer that never seems to stop spending money is the U.S. "Booz Allen is actually kind of the opposite of the consumer being stretched and tightened. consulting firm Booz Allen Hamilton, a company with "dominant market share" that counts the U.S. The company also enjoys strong dividend growth, he added. Beyond these, Landsberg likes NextEra Energy for its leadership in renewable energy and "very profitable" regulated utility business. He likes the company for its consistent revenue and earnings per share growth, as well as its "outstanding" dividend growth. In the right pane, scroll down and click on Taskbar. ![]() Next, open the Personalization tab in the left pane. They are still going to have to buy some of these things, and that's going to be a spot that's going to hold up better." Within health care, his top pick is UnitedHealth - a company he described as a "dominant player" in its field. To disable weather widget in Windows Settings: Press Win + I to open the Settings panel. Landsberg pointed to discount stores such as Costco and Dollar General, which he said have been "pretty solid throughout." "I think people will trade down. Staples will get hurt too obviously if the consumer pulls back to the extent that we think, but it's going to be hurt much less," he said. "I think discretionary gets hurt a lot more than staples if the consumer does get incredibly weak. Consumer staples will therefore be a better trade than discretionary stocks as consumer spending power is reined in, he added. The consumer is now "in a bad spot," Landsberg said, pointing to "multi-decade high" credit card debt and "multi-decade low" cash levels. Stock picks Against that backdrop, Landsberg said he favors the consumer staples and health care sectors. ![]() ![]() He said he believes investors are in a "waiting game riding out this current storm" and they have to be selective when putting new money to work in the stock market. "As we head into 2023, we believe it's important for investors to sell profitless and high multiple stocks, as these types of stock won't perform well during a recession and having extra cash on the sidelines is going to be crucial as we head into what will likely be a disappointing earnings season," he added. "I think tech is dead for a while and you are better off selling rallies and tech to position yourself for things that you need," Landsberg, partner and chief investment officer at Landsberg Bennett Private Wealth Management, told CNBC's " Street Signs Asia " on Wednesday. But investment veteran Michael Landsberg is staying on the sidelines for now. The Nasdaq Composite has been the best-performing Wall Street index thus far, having gained nearly 7% since the start of the year. After a rough 2022, some investors are flocking back to tech.
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