- November 6, 2023
- Posted by: legaleseblogger
- Category: Related News
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Stock Traders: Is it Time to Look Beyond the Magnificent Seven?
In today’s big story, we explore why stock traders should shift their focus from the well-known companies and start looking at under-the-radar stocks. According to investment chief Richard Bernstein, these lesser-known stocks present a “once-in-a-generation” opportunity for investors.
Bernstein argues that investors shouldn’t assume that the Magnificent Seven stocks are the best growth stories in the global equity market. Data supports this claim, as over 100 US companies have experienced at least 25% earnings growth in the past year, with only one of them being a Magnificent Seven stock (Amazon). This suggests that unloved stocks have the potential for a resurgence.
Bank of America’s Sell Side Indicator also indicates a bullish signal for the stock market. While it is currently neutral, it leans three times closer to a “buy” signal than a “sell” signal. This suggests that the S&P 500 could potentially see a gain of around 15.5% in the next year.
Investors who have conviction and avoid popular stocks may have the best chance of success in the current market conditions. However, Bernstein cautions that this shift is unlikely to happen overnight, and it may be more similar to the market rally observed in the 2000s when S&P 500 leaders lost value while underdogs thrived.
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