Chance Finucane, chief investment officer at Oxbow Advisors, joins Jack to discuss his investment outlook at this current point in the business cycle. Finucane argues that the U.S. is at the beginning of a multi-year economic slowdown that will see corporate earnings dwindle materially across many sectors, and that accordingly preservation of capital is top priority.
Finucane and Farley discuss the housing and auto market, outlook on fixed-income and the Federal Reserve, as well as individual stock ideas. Filmed on November 21, 2022.
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Timestamps:
(00:00) Introduction
(00:26) Outlooks on Growth and Inflation
(02:39) The Housing Market Recession
(05:33) The Auto Market
(08:05) General Investment Outlook
(10:49) MegaCap Tech Stocks
(13:19) Banks and Other Financial Stocks
(14:15) Fixed-Income Outlook
(16:49) Is Sentiment Too Bearish?
(19:34) How Much Will Corporate Earnings Grow In 2023 (if at all)?
(22:19) Curve Ad
(23:21) How High Will The Fed Hike Interest Rates?
(27:09) Municipal and Investment Grade Corporate Bonds
(28:34) Even More Bearish Than Summer 2022
(33:16) Long-Duration Treasurys
(34:41) Sectors and Individual Stocks
(36:31) Will Companies Be Able to Pass Costs Onto Consumers In 2023?
(42:56) Energy
(44:32) About Oxbow
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.