A new generation of investors is “awakening without memory of risk,” warns our call of the day, from Jack Murphy, chief investment officer of Levin Easterly...
Where were you during the 2008 financial crisis? Watching as a market meltdown chipped away at your retirement fund while you struggled to hold on to a job? Or maybe you were just a kid, with a front-row seat to your parent’s struggle, or maybe even blissfully unaware.
Murphy was speaking at the private asset management firm’s annual Chief Investment Officer Summit on Monday. He’s basically talking about flighty investors.“We’ve done it in war and peace, through rising and falling rates and in both recession and growth,” says Murphy, adding that they steer clear of troublesome big sector or all-or-nothing stock bets.General Motors GM, -0.03% — The auto maker’s shares are up 10% year-to-date, but down about 5% for May so far.
Bio-Rad Laboratories BIO, -0.20% — The company that makes products for life sciences and clinical diagnostic industries has a lot going for it — a 35% stake in lab-equipment supplier Sartorius AG SRT, -1.63% and its restructuring plan and sales execution, which will pay off for investors, he says. Shares of Amazon and Netflix, for example, trade at about 80 and 50 times, free cash flow — a key measure of a company’s performance.
Some $4.3 trillion has been poured into the passive U.S. stock market as of April 30, which is just $6 billion shy of total assets for active U.S. equity funds, says Morningstar.
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