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Earnings season well under way with lots of big names scheduled to -- -- reports today and later this week.
We've got Boeing caterpillar and -- among the names coming out with earnings tomorrow let alone apple and AT&T and electronic arts today.
One company to buy ahead of the -- looks like it more than that but didn't -- is here.
Chief investment officer over at WP Stewart get deceived him.
Thanks for having first of all macro picture -- we doing on earnings I've heard some people say this is -- horrible quarter for earnings.
Others say not so about 66% of the S&P 500 have reported have to have be.
Albeit lowered expectations.
-- revenues are coming in a little bit light but earnings are coming and I'll -- So the cost cutting continues and that's how companies are getting to move to the bottom line.
OK does that translate to I'm in equities almost 100%.
Yes -- -- why.
Know -- I think when you look at alternative asset classes equities are still the place to be.
Valuation is now back to historical norms we're not overvalued.
And I think over time the growth is still there.
We we obviously are are heavily weighted on apple watching today your top sectors technology.
Is apple part of that picture apple is part of the picture I think if you look at big cap tech that are very tough place to be the last few months.
I think that the market will be looking for a leader there if apple can come out with halfway decent numbers and the promise of -- high end iPhone and a low end iPhone.
People can get excited about -- Well let me let me stick up for Cisco here who made that big acquisition today two point 7000000001 a security firm.
Their stock is is pretty much near its 52 week high.
What's going on with apple I mean I've asked every single person who loves apple who comes on the same day.
And that I'll listen it's cheap it's 1010 point five times earnings and this and that.
Why -- the stock performed.
Think it when you look at it you need to break it apart and look at the high end of the Smartphone market and the low -- the high end is getting closer to saturation.
The low end is where the action is that an apple just doesn't have a viable product in that sector yet.
Okay it could also be looked at its consumer discretionary meaning you don't have to bite but you love -- but what's your favorite name in consumer discretionary aside from.
We still love the F corp and and it's a stock that's done relatively well this year.
But the North Face and Timberland in vans those -- brands with a whole lot of momentum behind them and they have a long runway for years and years to come globally.
That's a big conglomerate with a lot of high end brand names and then the medium level as well so they could -- a couple of different consumer levels right.
They absolutely do and and I think one of the things that mean when you pull out you look at consumer net worth.
Consumer net worth has really rebounded nicely over the last four -- five years.
The Fed Chairman has done a great job at lifting asset prices so how ironic to hear that he's the chairman has done a great shots if you are Bernanke -- I think what he's done that I'm I'm I'm a huge fan of -- -- love the low interest rate environment not entirely but the effect has been it's raised asset while.
There's cause and effect are you worried about what happens after the the tapering stuff when that exactly happens we're not sure.
I'm not as worried about that I'm more worried about the impact on -- somebody that saving their money and has it in a bank account is earning nothing.
But it's not doing anything health care he's like the health care -- while we do like the health care sector there are a lot of opportunities there.
But it's company specific the whole sector is not gonna do well you have to pick a few winners.
Now I know that you don't have a lot of these names in your portfolio but that's we mentioned we've got Ford on debt caterpillar AT&T.
We do have apple but we also have electronic arts you have to pick one that -- really look at the same baby which one would -- You know you -- bowing before and we're big fans of the global airline cycle and we think that that still has a long way to go.
Will hit here's some more news -- 787 hopefully that's positive and cede the production cycle going up there over the next couple years between very positive for going.
Jim Tierney has more than two billion in assets under management he's already WP Stewart -- -- great to see you thank you thank chairman and.
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