TOS50 News

12/05/2018

We Say Goodbye to George H.W. Bush

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11/24/2018

America Takes Pleasure in the Royals

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11/23/2018

President Trump's Ties to Saudi Arabia

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11/14/2018

France fires back at Trump's lack of "common decency"

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Financial Fitness & Life Planning

October Update

The stock market rallied on strong third quarter earnings in October.  While there was wide dispersion among individual companies, blowout earnings in the technology sector led the market higher.  My outlook remains mixed.  The earnings picture, low interest rates, and a potential reduction in the corporate tax rate are balanced by high valuations, Fed tightening, leverage and credit quality issues, and a bizarrely placid market.  Indeed, the current market streak without even a 3% pullback is the longest in history.

 

This month I added to my fund’s position in Procter & Gamble – the greatest collection of consumer staples brands in the world.  The stock declined on lackluster earnings in the wake of the incumbent board and management’s “successful” proxy battle against the activist investor Nelson Peltz.  I voted in favor of Peltz, not because I am enamored with him, but rather because he is qualified and owner-oriented as compared to the entrenched, self-serving, complacent and underperforming board.

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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