Portfolio manager and highly sought-after expert Mark Schmehl discusses his distinctive approach to investing and his market outlook. Mark believes that the U.S. election will be a non-event from the stock market’s point of view, and he doesn’t believe that the policies on either side will affect the market very much. He believes that investing in fundamentals and strong companies is the only way to invest; if you make decisions based on the outcome of the election, you could be making a big mistake. He does, however, think that the U.S. market needs more stimulus, as the coronavirus continues to affect the economy. Mark notes that tech has had a great run, especially large-cap tech and stocks are still not that expensive given the durability of earnings. From a valuation standpoint, he doesn’t think there appears to be a tech bubble, and he doesn’t expect any regulation that will affect big tech stocks.
Recorded on November 2, 2020.