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Financial Fitness & Life Planning

August Market Update

Despite early tremors brought on by the Turkish currency crisis, the stock market rallied in August on the completion of a robust second quarter earnings season and an abatement of the trade threat as the United States and Mexico reached a deal.  My outlook remains increasingly optimistic, though not aggressive, due to the combination of strong earnings growth and low interest rates.  High valuations, Fed tightening and tariffs are concerns but also seem contained as valuations are still improved compared to last year, rates remain stubbornly low, and negative trade effects are not widespread.

 

This month in my fund I purchased new positions in Broadcom and H&R Block, continued to boost Kraft Heinz, and exited Gilead and Target.  The purchases are all sound and solid businesses with stock prices that are depressed; such disconnect represents opportunity.  I sold Target on balance sheet concerns and Gilead because I was spooked by the surprise resignations of both its CEO and its chairman.

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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