Investing Experts
How Steven Cress' top 10 2024 picks have fared
Dec 17, 2024
Steve Kress, Vice President of Quantitative Strategies at Seeking Alpha, shares his insights on the stock market for 2024. He discusses his top ten stock picks, highlighting the staggering 907% YTD growth of AppLovin. The conversation dives into the pitfalls of underperformer Dorian and the volatility of the Magnificent Seven stocks. Kress also emphasizes the importance of value stocks and hybrid investment strategies, as well as the relevance of evolving market trends and quantitative methods in guiding future investments.
29:47
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Quick takeaways
- AppLovin's impressive 907% year-to-date performance exemplifies the potential success of quantitative analysis in stock picking.
- Concerns about diminishing growth rates for megatech stocks suggest investors may need to explore value stocks and small-cap opportunities.
Deep dives
Megatech Stock Performance and Valuation Concerns
While the megatech stocks, particularly the Magnificent Seven, have shown impressive returns recently, concerns arise regarding their forward growth rates compared to current year-over-year growth. Analysts indicate that many of these stocks are experiencing diminishing growth expectations as they approach 2025, which can be unsettling for investors. A healthy investment strategy typically assesses stocks with forward growth forecasts exceeding their historical growth rates, an aspect where many megatech stocks currently fall short. This poses a challenge for future growth prospects and could lead to a shift in investor sentiment and market dynamics.
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