Marketplace Roundtable #52: Picking Stocks In Irrational Markets With The Fortune Teller

The Fortune Teller joins the Marketplace Roundtable Podcast to discuss his investing experience as reflected in the Wheel of Fortune service. TFT's strategy starts with a comprehensive view of the entire market across asset classes. The primary concern is risk. "We think that our first responsibility is assessing and calculating the risk," says TFT. "Risk management lies at the very core and essence of everything we do." Overall, the disconnect between markets and the real economy "is becoming a bit alarming." This disconnect scares TFT, who cites a slowing job market in the U.S., lower GDP growth, and manufacturing PMIs in contraction territory as concerns about the big picture. This doesn't prevent TFT from developing new investing ideas. It publishes more than 200 each month. Favorite ideas right now start with preferred shares: New York Mortgage Trust 8% ( NYMTN ), Series B or E of Colony Capital ( CLNY ), and Teekay LNG Partners Series B ( TGP.PB ). TFT also likes precious metals. "We prefer silver over gold because we believe silver has a better chance to catch up," he says. Among consumer staples, CVS Health Corp ( CVS ) and Walgreens Boots Alliance ( WBA ) are favorites. Many other ideas are discussed toward the end of the podcast, including in energy MLPs, pharmaceuticals, telecommunications, and more. Topics Covered 2:45 - Investing strategy 5:30 - What asset classes do you invest in? 7:00 - Key lessons learned 13:30 - Something new learned in the last year 17:30 - How does the rest of 2019 look? 27:15 - Thoughts on specific market sectors? 33:00 - Something scary about the markets 40:00 - Something that gives you confidence in your approach 46:00 - Favorite ideas

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Marketplace Roundtable #52: Picking Stocks In Irrational Markets With The Fortune Teller is an episode from SA Marketplace Roundtable.

This episode is 59:54 long.

This episode was published on Sep 23, 2019.

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