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CNBC: JPMorgan Bullish on Financial Stocks, Touts BlackRock, Schwab

Image: CNBC: JPMorgan Bullish on Financial Stocks, Touts BlackRock, Schwab

Friday, 01 Dec 2017 03:54 PM

JPMorgan reportedly is bullish on financial stocks going into next year.

JPMorgan’s top financial stocks to buy for 2018 include BlackRock and Schwab, CNBC reported.

"We expect large bank stocks in 2018 to continue to be driven by changes in regulations and taxes," the firm's analysts write in a report.

"We see investor sentiment on regional bank stocks improving in the year ahead, particularly with tax reform now making progress (and regional banks a key benefactor) and new leadership at key regulatory agencies taking a much more friendly approach with banks."

Meanwhile, with U.S. stock prices near record highs and major economies worldwide on an upswing, top investment professionals are seeking out less familiar and less popular ways to invest.

At the recent Reuters Global Investment 2018 Outlook Summit in New York, London, Hong Kong and Singapore, many investors said equities look relatively costly, and a lack of fear may leave investors ill-positioned for when prices head south.

That, they said, justifies diversification.

For Thomas Kwan, chief investment officer of Hong Kong-based Harvest Global Investments, dogs, cats and other furry friends that people keep as pets is one pick of the litter, Reuters reported.

He said people in China, whose population is 1.4 billion, are taking care of pets better, and will buy more from companies making products such as pet food than they once did.

“People have been getting more reluctant to have kids, or they want kids but they also want pets where they can find love,” he said. “There’s a margin in this type of product that can be much higher than in other products because the customers -- dogs and cats -- are really not that picky.”

Beyond the earth-bound, Marc Lasry, the billionaire co-founder of Avenue Capital Group in New York and co-owner of the National Basketball Association’s Milwaukee Bucks, is looking to the sky to buy.

Lasry, who buys “distressed” and other undervalued securities, said he is investing in older, short-haul planes such as the Airbus A320, as low fuel prices prompt carriers to lease planes longer rather than update aging fleets.

“We’re willing to buy end-of-life planes,” Lasry said. “You’re able to generate very, very high rates of return. Think of an old car. A 20-year-old car, the value is $500. But you don’t mind driving it because fuel is cheap.”

(Newsmax wire services contributed to this report).

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JPMorgan’s top financial stocks to buy for 2018 include BlackRock and Schwab, CNBC reported.
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Friday, 01 Dec 2017 03:54 PM
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