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.
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