RBC's Lori Calvasina on How to Invest in The Post-Pandemic Era | #537
Today’s guest is Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets. She was recently named to Barron’s 100 Most Influential Women in U.S. Finance. In today’s episode, Lori explains why the US market has become more sentiment driven in the post COVID era. She shares her thoughts on the valuations of the top 10 stocks and the broad market. She also touches on small cap stocks, takeaways from earnings season, and her early thoughts on 2025.
Key Points
- Investors should be cautious about relying on post-GFC playbooks as the current market dynamics, influenced heavily by inflation, may require different strategies.
- Sentiment indicators like the AAII survey and the Misery Index are valuable tools for understanding market movements and investor behavior, especially in volatile periods.
- Despite their cheap valuation relative to large caps, small caps are struggling to gain momentum and may require concrete Fed actions such as rate cuts to see significant improvement.
Follow Lori: LinkedIn; Markets in Motion Podcast
Quotes 🔹 "...if you're just looking at the post-GFC playbook, I think you're really missing what's going on right now."
🔹 "We really don't feel like we belong in that bearish camp. I think the bearish camp is looking for a recession that essentially already happened in 2022, and we've basically been in a very misunderstood recovery over the past kind of year and a half or so."
🔹 "I feel like I'm just coming to the conclusion that companies are just really, really good now at managing crises."
Sponsor: 10 East is a membership-based investment firm. Members invest at their discretion in single-investment and niche fund vehicles across private credit, real estate, private equity, and venture capital.
Chapters
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| 3:50 | |
| 10:37 | |
| 13:08 | |
| 17:05 | |
| 20:24 | |
| 36:56 | |
| 42:37 |
Transcript
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