Three generations haven’t traded through an inflationary cycle. Here are the stocks for it, one seasoned fund manager says.

MarketWatch2021-11-04

Don’t stop me now. A record-setting run for Wall Street, seems set to continue after a sans-surprise Fed pledge to start tapering. Cue the traditional end-year rally? Onto our call of the day from ...

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A record-setting run for Wall Street, seems set to continue after a sans-surprise Fed pledge to start tapering.\nCue the traditional end-year rally?\nOnto our call of the day from ...</p>\n\n<a href=\"https://www.marketwatch.com/story/three-generations-havent-traded-through-an-inflationary-cycle-here-are-the-stocks-for-it-one-seasoned-fund-manager-says-11636024344?mod=home-page\">网页链接</a>\n\n</div>\n","source":"lsy1603348471595","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Three generations haven’t traded through an inflationary cycle. 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Here are the stocks for it, one seasoned fund manager says. \n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-04 20:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/three-generations-havent-traded-through-an-inflationary-cycle-here-are-the-stocks-for-it-one-seasoned-fund-manager-says-11636024344?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Don’t stop me now. A record-setting run for Wall Street, seems set to continue after a sans-surprise Fed pledge to start tapering.\nCue the traditional end-year rally?\nOnto our call of the day from ...</p>\n\n<a href=\"https://www.marketwatch.com/story/three-generations-havent-traded-through-an-inflationary-cycle-here-are-the-stocks-for-it-one-seasoned-fund-manager-says-11636024344?mod=home-page\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FCX","symbol_name":"麦克莫兰铜金","start_time":0,"source_url":"https://www.marketwatch.com/story/three-generations-havent-traded-through-an-inflationary-cycle-here-are-the-stocks-for-it-one-seasoned-fund-manager-says-11636024344?mod=home-page","article_id":"1146704893","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1146704893","pubTimestamp":1636030527,"sourceInfo":{"source_id":"lsy1603348471595","name":"MarketWatch"},"weMediaInfo":null,"summary":"Don’t stop me now. A record-setting run for Wall Street, seems set to continue after a sans-surprise","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"FCX":"麦克莫兰铜金","STT":"道富银行","BHP":"必和必拓公司","RIO":"力拓","MS":"摩根士丹利"},"translate_title":"三代人都没有经历过通胀周期。一位经验丰富的基金经理表示：以下是它的股票。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BHP":0.9,"FCX":0.9,"FRC":0.9,"MS":0.9,"RIO":0.9,"STT":0.9},"content_text":"Don’t stop me now. A record-setting run for Wall Street, seems set to continue after a sans-surprise Fed pledge to start tapering.\nCue the traditional end-year rally?\nOnto our call of the day from Michael Cuggino, president and portfolio manager of the nearly 40-year old multiasset Permanent Portfolio Family of Funds.He told MarketWatch that investors are entering a new and largely unfamiliar era of investing that begs for a diversified approach.\nCuggino outpointed two investor blind spots right now — the potential for higher interest rates, and a widely accepted Federal Reserve view that inflation is transitory and will ease once supply-side issues are ironed out. “I think the inflation story is broader than that and I don’t think it’s been properly priced in yet,” said the manager.\nThe 58-year old Cuggino said growing up in the ’70s and ’80s exposed him to high single-digit inflation, a misery index and stagflation. “So inflation is a risk and you’ve got two to three generations of investors right now that have never managed an inflationary cycle,” he said. “It’s a risk to equities because of rising costs, lower profit margins.”\nThose newbie investors have also never managed a rising interest rate environment, such as he saw in the 1980s. Even five to eight years ago, markets were dealing with a benign geopolitical environment — no inflation and low bond yields even as rates were rising, he said.\nHence the next 10 years could look a lot different, Cuggino said.\nAs for stock ideas, he’s keen on companies that can withstand rising rates and inflation, and control their cost structure. He believes we’re potentially at the start of a multiyear commodity cycle, which is favorable for dividend-paying copper miner Freeport-McMoRan.\nHe also likes fellow miners BHP and Rio Tinto — two diversified industrial metals companies that both pay dividends. Again, “good ideas for a long-term investor that’s willing to play the fact there might be a longer-term cycle in commodities,” said Cuggino.\nAnother dividend-paying sector poised to increase those payouts and work well for a long-term investor are financials. He pointed to Morgan Stanley among big financial services groups and regional bank First Republic,though noted the latter is more expensive to own right now. He owns State Street bank in the trust company space.\n“The broader you’re diversified about different possibilities, the better chance you have to produce a positive outcome or at least mitigate downside risks. And so that’s why we would be diversified right now,” he said.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":848745438,"gmtCreate":1636033110852,"gmtModify":1636033111153,"author":{"id":"3581809523229784","authorId":"3581809523229784","name":"YunaTuna","avatar":"https://static.tigerbbs.com/6463ed1450c2454bfc57b76274b06418","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ko","listText":"Ko","text":"Ko","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848745438","repostId":1146704893,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":848724146,"gmtCreate":1636031877692,"gmtModify":1636031918726,"author":{"id":"3581588474178431","authorId":"3581588474178431","name":"PanaCota","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848724146","repostId":1146704893,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":37,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1146704893"}