“Considering the stock’s meaningful underperformance over the last nine months, this may be enough to satisfy investors, who have lost some measure of faith in management credibility after so many downward revisions,” said Jason Benowitz, senior portfolio manager at Roosevelt Investments.
“PayPal let an activist investor inside the tent with an information sharing agreement. We expect the company to materially refresh its top management layer and make tough choices to improve profit margins,” said Benowitz.
Rising inflation can affect many areas of your financial plan. Unfortunately, many people take no action or worse, make hasty decisions, which can hurt them in the long run. Our “What Issues Should I Consider When Dealing with High Inflation” checklist can pave the way for better planning and decision-making during an inflationary period. This checklist can help guide you through often under-appreciated areas that inflation can affect, including personal spending, budgeting, assets, taxes, insurance, estate planning and more.
Have you been contemplating these issues?
We can try to help you better prepare for these issues. After all, inflation affects many different areas of your financial plan, including living expenses, spending levels, income needs, and portfolio withdrawals and volatility.
While the checklist can help you spot good ways to identify all the different issues to consider, we are always available to meet with you to discuss your finances and goals, and to identify what the best opportunities are for you.
“We believe investors had anticipated the earnings miss and guidance reduction to a large degree following reports of similar struggles at other retailers,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group.
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“These companies have profits and cash flows and solid balance sheets,” said Jason Benowitz, senior portfolio manager with Roosevelt Investment Group. “High valuation by itself is not a sufficient thesis to be negative on a stock.”
The big risk, according to Benowitz, is if interest rates rise even more than is currently forecast. Indeed, the Nasdaq 100 fell 1.4% Tuesday as yields on the 10-year U.S. Treasuries jumped 16 basis points in just two days, serving a reminder to technology investors of the need to guard against unwelcome surprises. Higher rates reduce the present value of future earnings, weighing especially on shares of highly valued, fast-growing companies.
“Whatever the future looks like, it’s going to require accelerated computing,” “We keep thinking of new and better ways to utilize data and we wind up with tremendous growth in data transmission, which drives that cohort of companies whether or not the metaverse comes to reality.” said Jason Benowitz, senior portfolio manager at the Roosevelt Investment Group LLC in New York.
“We expect the share sales will continue, as Musk holds millions of options worth billions of dollars that would otherwise expire worthless, and he has also prearranged share sales under 10b5-1 plans,” said Jason Benowitz, senior portfolio manager at the Roosevelt Investment Group LLC in New York.
While repurchases are likely to rise as economic growth continues, corporations may opt to allocate more cash to capital expenditures like technology and factories, according to Jason Benowitz, a senior portfolio manager at Roosevelt Investment Group. He’s not worried about the prospect of reduced buybacks weighing on the broader market. The Philadelphia semiconductor index has gained 23%, beating the S&P 500 Index and the Nasdaq 100 Stock Index. Makers of equipment used in the production of semiconductors have seen the biggest gains, led by Amkor Technology Inc. and ASML Holding. Micron shares are little changed on the year, while Western Digital has gained about 7%. Micron traded 0.9% lower in morning trading in New York.
“The outlook for global growth remains fairly strong for the second half of this year and 2022 once the delta variant subsides,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group. “Chip stock action reflects that.” Micron is projected to post revenue of $8.2 billion in its fiscal fourth quarter, an increase of 36% from the same period a year ago, according to the average of analyst estimates compiled by Bloomberg. Earnings excluding some items are expected to be $2.34 per share, more than twice what it was in the fourth quarter of 2020.
John Roscoe, CFA, Chief Investment Officer, and Jason Benowitz, CFA, CMT, Senior Portfolio Manager, sat down to discuss the latest updates in the financial markets from this past quarter. In this webinar, they also discussed:
While repurchases are likely to rise as economic growth continues, corporations may opt to allocate more cash to capital expenditures like technology and factories, according to Jason Benowitz, a senior portfolio manager at Roosevelt Investment Group. He’s not worried about the prospect of reduced buybacks weighing on the broader market.
Read the Full Article HereCOVID-19 disrupted many aspects of our everyday financial lives, whether in business, personal finance or estate planning. Many of us would prefer to forget the challenges and losses of the last year and just move on. I get that – but before you wipe the slate clean to start the new year, I think it’s useful to consider what lessons we can walk away with. For savers, spenders and investors, I’ve got seven lessons to share.
Source: Published in American Funeral Director Magazine
Jason Benowitz, CFA, CMT®, Senior Portfolio Manager and Richard Konrad, CFA, CFP®, Director of Value Strategy, sit down to discuss:
“The Fed leadership has generally not been concerned with the recent rise in interest rates, suggesting it reflects a pickup in growth rather than inflation. Any signs of inflation is … generally expected to be transitory,” said Jason Benowitz, senior portfolio manager at the Roosevelt Investment Group in New York.
Read the Full Article HereTo paraphrase a famous line by author Charles Dickens: “2020 was the best of times, and it was the worst of times.” In fact, 2020 might end up being recorded as one of the wildest in history for investors.
Read the Full Article HereJason Benowitz says that the path of the economy and capital markets will be determined by the path of the virus as the Fed and its global brethren continue to backstop the capital markets.
Anyone distracted by the Reddit-fueled circus in stocks this month may have missed an important fundamental story: A stellar earnings season for technology companies that helped the group’s shares outperform the market once again.
Read the Full Article HereJohn Roscoe, CFA, Chief Investment Officer and Senior Portfolio Manager and Sean Sokolowski, Investment Counselor, sit down to discuss:
Jason Benowitz, senior portfolio manager at The Roosevelt Investment Group, discusses the U.S. stimulus package and the possible market reaction.
CNBC main video page hereAs 2021 approaches, many on Wall Street are bracing for unfamiliar territory: A year when technology companies may not be the biggest stars of the stock market.
Read the Full Article HereThink Michelangelo vs Da Vinci. Muhammad Ali and Joe Frazier. Batman v Superman. Another epic rivalry is rejoined this week when Sony and Microsoft go head-to-head with the next generation of their blockbuster video-game consoles.
Read the Full Article HereJason Benowitz, CFA, Senior Portfolio Manager and Sean Sokolowski, Investment Counselor, sit down to discuss Roosevelt Investments’ thoughts on:
Source: Dealreporter, An Acuris company
Read the Full Article HereIn our quarterly update, John Roscoe, CFA, Chief Investment Officer and Senior Portfolio Manager, discussed our thoughts on the financial markets, the evolving impact of the COVID-19 pandemic, and answered questions live.
John Roscoe, CFA, Chief Investment Officer and Senior Portfolio Manager and Sean Sokolowski, Investment Counselor, sit down to discuss:
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Could the financial markets have seen the shortest bear market in history or could equity markets re-test their March 23rd lows? It appears that the stock market’s own outlook is that it has already “put in a low” based upon the dramatic rebound we’ve seen. However, this rebound is in sharp contrast to what we have observed in global and U.S. economic indicators. This is a wonderful demonstration of the stock market’s discounting mechanism and how forward-looking it tends to be. In our view, in order to explain the disconnect between the indicators and the market, it’s important to look at the progress that is being made in the war against the coronavirus.
The rapid response of fiscal and monetary policies to this crisis has been impressive and stabilizing. The Federal spending and lending programs have their flaws, but together they have started to carpet bomb the streets with money in support of consumers, small companies, investors in all types of bonds from government to high yield, and issuers of municipal bonds, not to mention targeted industries like the airlines. While it is not perfect, it does appear that the “fix is in”. As a result, equity markets have rallied sharply, and fixed income credit spreads have narrowed. For investors, it is now back to “risk on”. Don’t fight the Fed!
It appears that financial markets are starting to price the shutdown as if it may be coming to an end sooner rather than later; perhaps sooner than the many more months believed in some early forecasts. And indeed, more recent political arguments are about the pace of reopening businesses, rather than closing them down. There is some evidence, albeit still limited, that more people than widely believed may be walking around with antibodies to the virus, implying that they’ve already been infected but were asymptomatic. Regardless, coronavirus curves appear to be flattening and some states are putting target dates on re-opening in some way. There are many stories about why some hot spots may need to reopen at a much slower pace.
With the apparent progress on the virus and the turn in the financial markets, the expectation is that the economy may be on the upswing later this year. Maybe the recovery won’t look like a “V” and it’ll look more like a “U”, but we are all getting cabin fever. There could be an explosion of consumer spending and a surge of cap ex as supply chains are re-jiggered. There also could be post-crisis aftershocks, because everything won’t come back online at once. There will still be cautious approaches to gathering in public places and some consumers may have to eventually start saving more, which would reduce spending.
It is impossible to know exactly to what extent, and for how long, the pandemic will dampen economic activity, but we believe in the resilience of the American economy, and despite the potential for short-term volatility, we remain optimistic over the medium term.
On April 22, 2020, Jason Benowitz, CFA, Senior Portfolio Manager, discussed updates on the financial markets, the widespread effects of the COVID-19 pandemic, and answered questions live.
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– Albert Einstein
In times of market volatility, many people become nervous about how the financial markets will play out and wonder how their personal and business finances will be affected. We believe that it is ok to be nervous; it is natural. Our job as a financial advisor is to guide you through periods like this. Additionally, we can help identify opportunities that come about from different financial market environments.
Learn about seven financial planning opportunities to consider in our article, “Financial Planning Opportunities in Times of Market Upheaval”
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