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.

Trend

recordings per month · last 12 months

No recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.

Appearances

newest first · ▶ plays the moment

WSJ Your Money Briefing · Wall Street's Bulls Are Back Following October Selloff · 12 Nov 2018 podcast

It's the third consecutive quarter of 20-plus percent growth year over year. voice-verified

So for investors, that's telling them that maybe some of these fears, we have to worry about slowing economic growth, slowing profits, but we don't have to worry about that just yet. voice-verified

So that's giving investors some conviction after that brutal October to really pick up and maybe start buying again. voice-verified

And that's because if you look at some of the highest quality companies like an Amazon, for example, like an Alphabet, I mean, these are companies that are still posting phenomenal growth. voice-verified

They just finished reporting another quarter of record profits, but they're down double digit percentage points. voice-verified

after that one month of losses. voice-verified

So in UBS's perspective, this selling was just more of a correction during a bull market than the start of a bear market in terms of what they believe. voice-verified

And they're expecting things to just sort of rebound, that valuations, prices are just a little more appealing to investors overall. voice-verified

It's the sense of optimism that I think has been a defining characteristic of this year, because it comes and goes. voice-verified

And right now, people still are expecting the U.S., China to reach some sort of trade resolution. voice-verified

Again, it's one of these very fluid situations where any sense of optimism the market does grab onto, but the first moment that things don't look like they're working out so well, you'll see a sharp, sharp pullback within the Dow Jones Industrial Average. voice-verified

That said, UBS is saying that even next year, if the tariffs did take effect, and many of them already have, voice-verified

The overall impact wouldn't be as severe as some people are really expecting it to. voice-verified

And they're still saying that with the impact, you'd have half the amount of profit growth in 2019 as you did in 2018. voice-verified

And that's growth is growth at the end of the day. voice-verified

And that's what investors want to buy. voice-verified

It actually, during the October sell-off, reached its lowest valuation of the year. voice-verified

It was around 15 times forward price-to-earnings. voice-verified

Right now, it's around 16 times, and that's about the long-term average. voice-verified

But it's a lot cheaper than it was, certainly, in the end of September, when it was way above that, and certainly January of this year, when we were just sort of really rocking and rolling. voice-verified

Showing 901–920 of 1,567 · page 46 of 79