{"id":1422,"date":"2023-11-14T18:50:54","date_gmt":"2023-11-14T18:50:54","guid":{"rendered":"https:\/\/economicherald.net\/?p=1422"},"modified":"2023-11-14T18:50:54","modified_gmt":"2023-11-14T18:50:54","slug":"free-whelan-bullish-usa","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=1422","title":{"rendered":"FREE WHELAN: Bullish USA"},"content":{"rendered":"

In this Stockhead series, investment manager James Whelan offers his insights on the key investment themes and trends in domestic and global markets. From macro musings to the metaverse and everything in between, Whelan offers his distilled thoughts on the hot topic of the day, week, month or year, from the point of view of a professional money manager.<\/p>\n

\u00a0<\/p>\n

Another week rolls on and we saw that we accurately predicted the RBA decision (ouch) but that I still haven\u2019t picked a Cup winner since Delta Blues. I know which one I\u2019d rather be better at predicting.<\/p>\n

While the expression \u201clet\u2019s circle back to this in the new year\u201d becomes more prevalent from this week onwards we remind you that the market remains open and for now, bullish.<\/p>\n

As for Moody\u2019s, not so much with regards to the USA.<\/p>\n

Via Bloomers<\/em><\/p>\n

Dropped on Friday afternoon and made some headlines. The US economy is an unstoppable powerhouse and should be treated as such.<\/p>\n

This I found interesting and backs up the colossal bond purchases we saw through October. They\u2019ve seen their highest weekly inflows since June. Happy to follow along there.<\/p>\n

Via TD Securities<\/em><\/p>\n

Now for the stats that matter. The S&P 500 has never been lower a year after the midterm elections. Which were a year ago. Since 1946 the average return on the market over a 12-month period following the midterms is 14.1%. How much was it up this time? 14.1%.<\/p>\n

Via Carson, Source: YCharts<\/em><\/p>\n

Remarkable. Stay the course.<\/p>\n

If you see anything like this then please don\u2019t be too alarmed either. There\u2019s always a set number of charts that various commentators will say \u201cthis looks ominously like 1987 or 2008\u201d or something like that.<\/p>\n

This is no different and you need to take this with a big grain of salt.<\/p>\n

Via X<\/em><\/p>\n

Remember that the paradigm of the \u201cMagnificent 7\u201d is different now (he says) based on the astronomical cash flows generated by those companies and the strength of their stock prices negates much of the traditional ways of valuing those companies.<\/p>\n

Hence, in theory, the separation will become more pronounced. Here\u2019s a visual map of just how big they are.<\/p>\n

Via Visual Capitalist<\/em><\/p>\n

That being said, Google is going to be going through some things for the foreseeable future with the USA vs Google antitrust trial. As usual the best follow for this is Jason Kint on Twitter. He\u2019s picking through every court document and finds some interesting things.<\/p>\n

Via X<\/em><\/p>\n

There will be a point to be back in Google but I think it may be more prudent to be light on it, particularly when Microsoft is right there which already went through its own antitrust back in the day.<\/p>\n

That\u2019s all for today with an unenviable schedule for me ahead. I\u2019ll leave you with a link to the latest podcast which as always explains things better than I can.<\/a><\/p>\n

All the best and stay safe,<\/p>\n

James<\/p>\n

\u00a0<\/p>\n

The views, information, or opinions expressed in the interview in this article are solely those of the writer and do not represent the views of Stockhead.<\/em><\/p>\n

Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article.<\/em><\/p>\n

<\/span><\/p>\n

The post FREE WHELAN: Bullish USA<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

In this Stockhead series, investment manager James Whelan offers his insights on the key investment themes and trends in domestic and global markets. 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