Few of us would’ve predicted that by June the S&P would not only be positive, but up over 11%. On face value, a healthy market.
But dig a little deeper, and it quickly becomes apparent that this performance has been carried by the big mega-cap tech stocks. Such is their performance, and the lack of performance by the rest of the index, that Apple, Microsoft, Alphabet and Nvidia now account for a third of the S&P500.
This all begs the question: what next?
Do these mega cap stocks sell off, does the rest of the market trade up, or will it be a bit of both?
If it’s the former, which companies will take the reigns?
These questions, and more, are answered by today’s guest – Jacob Mitchell, founder, CIO and lead Portfolio Manager at Antipodes Partners. Antipodes houses two global funds, an emerging markets fund, and an actively traded global shares ETF (ASX: AGX1).
Before starting Antipodes, Jacob spent 14 years at Platinum Asset Management, where, as the co-CIO and lead portfolio manager of the Platinum International Fund, he oversaw $3.5 billion in assets under management.
Jacob goes to town on a lot of subjects, including:
Note: This episode was recorded on Wednesday, June 5 2023
Timestamps
2:30 - Megacaps have dominated. What's next?
5:30 - Is AI a bubble?
9:10 - Slowing in the West, reopening in the East
12:00 - Market valuations and fundamentals don't line up
15:30 - Eyes on smaller companies bridging the gap
20:10 - Primed sectors
22:50 - Holding the line
27:20 - Liquidity is draining
30:20 - The secular winners of tomorrow
34:45 - Retail investors are sceptical of the energy transition
41:00 - Investment case for fossil fuels
44:00 - Hedging risk in today's market
48:00 - High conviction stocks
The biggest question facing investors today
The 15 stock portfolio
Finding value in dark corners of the market
Season's greetings from Livewire Markets
Buy Australian for the next recovery phase
The biggest trends to watch in the next 5 years
3 early warning signs it’s time to change your view
Sell-offs are a buying opportunity. Don’t get off the train
What the ‘smart money’ is saying about Australia's future
Did Buffett really change his mind on gold?
Tapping into research from the world’s best investors
How Ophir spot offshore growers (before they get big)
A key question most investors ignore, do you?
Chris Stott launched a new boutique. Then COVID hit.
Don’t fight the Fed, buy commodities instead
The $200 billion opportunity to power Australia's future
The unspoken rules of Wall Street’s best hedge funds
Buy growth, but don't ignore the price
The biggest experiment in markets: How does it end?
Navigating the COVID crisis
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