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Financial Fitness & Life Planning

July Market Update

The stock market’s focus on tariffs receded somewhat during July as second quarter earnings season is now well underway.  As expected, the surge in earnings growth is continuing (albeit at a modestly slower rate as compared to the first quarter), aided heavily by the corporate tax cut (though certainly not entirely).  In conjunction with stubbornly low interest rates despite Fed tightening as well as lower valuations due to this year’s correction, I am increasingly optimistic though by no means aggressively so.

 

This month I purchased a new position in Walgreens Boots Alliance and boosted Berkshire Hathaway to a full-sized position in the fund that I manage.  Walgreens was already a quality company with a cheap stock when Amazon’s purchase of online pharmacy startup PillPack foolishly shaved 10% off its valuation, thereby creating an even better buying opportunity.  Berkshire relaxed its stock buyback rules, which should lead to a higher valuation relative to book value going forward.  I also anticipate strong results when it reports after the close on August 

Michael Berlin can be contacted at mberlin@mhbpartners.com and at (631) 629-4928 .

The information included in this article is not intended to be used as a basis for making investment decisions nor should it be constructed as a recommendation to buy or sell any specific security. Consult your investment professional for additional information and guidance.
 

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