Barron’s Rountable Experts Are Buying Stocks; Offer 18 New Picks; Ed Yardini “Bear Won’t Depart Till Mid-Year”

Barron’s Rountable Experts Are Buying Stocks; Offer 18 New Picks; Ed Yardini “Bear Won’t Depart Till Mid-Year”
     There has been considerable damage done on Wall Street; and, top investment professionals and traders are beginning to nibble away at some of the many bargains out there. In this weekend’s Barron’s. (March 14/15, 2020), Lauren Rublin, and Reshma Kapadia have a lengthy article providing 18 stock picks identified by their Barron’s Roundtable of investment professionals. For Ms. Rublin and Ms. Kapadia’s full article, and reasoning on these 18 picks, I refer you to this weekend’s publication.
     “When the going gets tough, the tough get going,” the authors wrote, “and that’s just what most members of the Barron’s Roundtable have been doing during this historic coronavirus-ingested stock market rout. As stock market prices have plummeted by more than 25 percent, ending this glorious 11-year bull market run, our Barron’s Roundtable experts have been snapping up names they never thought they’d be able to buy so cheaply, along with more shares of companies like Walt Disney (ticker: DIS), that they already love.”
     “That’s not to say that any of our 10 seers has an especially sanguine view of the economic outlook, as the U.S. braces for what will almost surely be a larger health crisis and a reording of public life,” Ms. Rublin and Ms. Kapadia wrote. “Most think a recession is a near certainty, as both the manufacturing and service sectors retrench, although the severeity and duration of the downturn is uncertain.”
     The Barron’s Roundtable panelistis like:
     Oracle (ORCL)
     Merek (MRK) (by 2 different panelists, making 18 picks)
     Novartis (NVS)
     Applied Materials (AMAT)
     Boston Dickinson (BDX)
     Charles Schwab (SCHW)
     Phillips 66  (PSX)
     Ingevity (NGVT)
     Amgen (AMGN)
     CME Group (CME)
     Quaker Chemical (KWR)
     West Pharmaceutical Services (WST)
     Ilumina (ILMN)
     Here Holdings (HRI)
     Crane (CR)
     United Health Group (UNH)
     United Parcel Service (UPS)
     As with any and all picke, make sure you do your own due diligence, and understand your risk tolerance and time horizo’
 
Bear Won’t Depart Till Mid-Year
 
     The title above comes from Leslie P. Norton’s interview with renowned stock market forcaster Edward Yardini’, which she posted in this weekend’s Barron’s. Eeveryone is wondering when it is safe to go back into the water; and, when the stock market will bottom, and begin to recover. Even Mr. Yardini doesn’t know. But, his guess is usually better than most, and he is more often right — than wrong. For Ms. Norton’w full article, I refer you to this weekend’s Barron’s.
     While Mr. Yardini said “I expected a [stock] market correction [this year], “but, I did not expect a virus; and, we’ll see a recession on a global basis. Japan and Germany will undoubtedly fall into recession. Italy will have a severe recession,” and the U.S. will also likely fall into recession. [I personally think a U.S. recession started this month.]  “My guess,” Mr. Yardini said, is “the virus will disappate significantly by the middle of the year, based on the experience of China and South Korea and previous virus outbreaks. The recession and bear market in stocks should end then.”
 
How Low Do Stocks Go?
     “A 30 percent drop from the top of the S&P 500 brings us to the 2,300-2,400 level,” Mr. Yardini said. The S&P 500 closed Friday at 2,711. “I had originally expected 3,500 on the S&P 500 by the end of 2020, and we got to 3,300 in February,” he said. “Now, I’m thinking 3,500 by the end of 2021. There will be recovery and resumption of the bull market. I think it will be like 1987 all over again. Most of the downside should occur between now and the middle of the year. My year-end {S&P 500] target is 2,900.
Should You Be Buying Now?
 
     “If you have cash [or, are dollar cost averaging], now is the time to buy high quality stocks,” Mr. Yardini advised. “They’re trashing utilities, consumer staples, quality companies that pay dividends, and have always paid dividends in recessions. In an environment where interest rates are close to zero, and may stay there for some time, dividend stocks are quite attractive.”
     “There could be another downdraft in oil — so no rush to jump into energy stocks,” Mr. Yardini said, “even though I am not in the camp that says we’re never going to use oil again. The best opportunities are in blue-chip companies with a long history of paying dividends.” RCP, fortunascorner.com

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