Mike Bird
speaker
74 appearances
1 recordings
1 series
first heard Jun 2019
last heard Jun 2019
Mike Bird’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Millennials vs. Baby Boomers: The Investment Challenge · 7 Jun 2019
podcast
Whereas in the millennial portfolio, there's some that you would expect a couple maybe to go to the wall completely.
Well, interestingly, we can't measure it that well because two of the stocks in the millennial portfolio, which is Beyond Meat and Uber, because they've only recently listed, you know, you can't get long term data on those.
However, I would say in the past few years, the stocks in the millennial portfolio generally have outperformed the ones in the boomer portfolio.
But what happens when there's a downturn in the stock market is the stocks in the millennial portfolio tend to fall very, very fast.
They're growth stocks.
They're priced based on, you know, not perfection, but strong future economic growth, let's say that.
If it looks like that's not going to be the case, these things are going to go down and they're going to go quickly down.
Whereas you look at the stocks in the boomer portfolio, something like a healthcare stock, to take another example,
People are going to need health care.
They need health care if there's a recession.
There might not be quite as much demand for it, but these are staple things that people will require, not things that they might like.
You're not going to need an artificial beef burger.
You're going to need a hospital bed.
Thanks very much.
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