Michael Wursthorn

speaker

1,567 appearances 29 recordings 1 series first heard Jul 2017 last heard Nov 2021

Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · How to Find Cheap Stocks in a Hot Stock Market · 19 Nov 2019 podcast

Alphabet, for instance, would be another one.

So would Facebook.

So they're looking at just sort of how the average growth stock has reached some pretty expensive levels relative to the average value stock.

And they're also doing this against, say, momentum stocks.

Now those are a little bit different than growth stocks in the sense that momentum can encompass value in both growth.

But momentum stocks really, the only thing going for them in the sense of why they're rising as much as they are is because there's a number of investors moving in at the same time.

So you're seeing that price movement reflected.

So analysts are looking at those two baskets, growth and momentum, and comparing it to value and seeing that we haven't seen this big of a gap in those valuations

since 2003 or even the dot-com bubble when growth stocks fell a lot and you saw value really rebound in the subsequent years.

As trade tensions have really fired up, investors have been less willing to buy various investments, especially stocks, because of that unease, that uncertainty.

So you've seen that stifle market somewhat.

With trade tensions improving to at least a simmer right now, and there's some optimism that we'll reach this phase one trade deal, that's adding to investors' optimism.

And that's helping investors get more comfortable buying stocks again.

And we're seeing a lot of that buying activity go into value stocks.

The other thing analysts are saying is that we're also hit a trough in corporate profits.

So there's expected to be a profit rebound next year.

And that's also helping entice investors back into buying stocks.

We've seen the movement play out amongst the big institutional investors in terms of these big fund managers buying value stocks.

What we're seeing amongst individual investors is that they're buying more value ETFs.

So some of the biggest value oriented ETFs run by firms like Vanguard and Fidelity and iShares, the BlackRock brand.

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