This podcast was recorded on Feb. 15, 2024 and made available to premium subscribers that same day (without ads, natch). For more information on premium subscriptions, visit our Substack or Supercast.
Ted Oakley, founder of Austin, Tex.-based Oxbow Advisors, joins the podcast to discuss his views on markets and the economy and why this is a time to get defensive with one's portfolio.
Content Highlights
- The stock market highs for the year will be set during the first quarter (1:47);
- "There are things that people don't see" (or at least don't publicize) that are pointing to a slowdown in the economy (3:08);
- One of these is the US consumer, who is now borrowing to finance purchases (4:59);
- Another is commercial real estate, which is just starting to rear its head... (6:05);
- Interest rate cuts from the Federal Reserve may be further away than realized due to inflation risks (8:22);
- Oxbow has been invested in 'Magnificent 7' stocks Microsoft (MSFT), Google (GOOG), and Apple (AAPL) for some time, but has been trimming these holdings and is certainly not looking to add more. But certain defensive sectors got cheap recently... (10:48);
- Background on the guest (23:07);
- What previous period in investment history is today's market most reminiscent of? Bulls will not like this answer... (29:32).
More from the guest
