On paper, the third quarter looked fine. The S&P 500 finished higher. But the equal-weight index lagged, and when Tom Moran, Don Drury and Tyler Hardt, CFA, sat down to record, Tom pointed out that more stocks were trading at 52-week lows than at 52-week highs. A few large names were still doing most of the lifting.
That kind of market makes a lot of investors nervous. Tyler sees it differently. Plenty of good companies have been marked down in the past few months, some to prices he hasn’t seen in years, and he thinks that leaves real room for anyone willing to look past the index.
Where the Conversation Goes
From there, the three get into what they’re hearing on earnings calls, why the Fed’s rate increases may not touch the kind of inflation we’re seeing now, and what higher yields mean for people who need income from their portfolio. Tyler shares a few corners of the market he’s warming up to, and a couple he’d stay away from.
They also take on the question of which risks are getting too much attention and which ones aren’t getting enough. Tyler’s answer is one most investors probably aren’t thinking about.
On the latest episode of Quarter Over Quarter, Tom Moran, Don Drury and Tyler Hardt, CFA, look past the index at a narrow market, what earnings calls are signaling, the Fed’s rate path and where they see value heading into year-end. Watch or listen to the full conversation on the Moran Wealth Management® YouTube channel, Apple Podcasts, or Spotify.
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