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The Scent of Recession with Liz Young + What Are We Doing with Vincent Daniel and Porter Collins
Nov 27, 2023
On this episode, Liz Young, Vincent Daniel, and Porter Collins discuss the disconnect between the stock market and the economy, holiday spending, investors hungry for risk, market concentration, upcoming earnings/economic data. They also talk about the state of the market, the precious metals market, current investor/machine mentality, market concentration for hedge funds, stock picking with small and mid-cap names, the energy landscape, Tesla still not trading on fundamentals, and banks getting into private credit.
56:30
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Quick takeaways
- A concentration of hedge funds in top S&P 500 stocks masks underperforming stocks and highlights the importance of stock picking and investing in small and mid-cap names.
- Undervalued companies can turn around quickly with catalysts and news, and there are opportunities in smaller pockets of the market such as prison stocks that could benefit from increased border spending and the strong performance of coal stocks.
Deep dives
Market Concentration and Winners vs Losers
The podcast discusses the concentration of hedge funds in the top names of the S&P 500, but suggests that this masks the reality that there are winners and losers in the market. The hosts argue that while the top names have driven the market to new highs, there are many stocks that are underperforming. They emphasize the importance of stock picking and highlight the success they've had in small and mid-cap names. They also mention specific stocks like AirCap and BGC Partners that have performed well based on their fundamentals.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode