A stock market with no margin for error

The recent stock market rally seen during the second quarter of 2023 has become increasingly unbalanced. 

The NASDAQ is up almost 40% this year and just 10% off its all-time highs. But its the seven largest US tech stocks which have contributed half of the performance in global equities during the quarter and calendar year. 

In this quarterly update episode, Alison Savas (Investment Director) and Rameez Sadikot (Portfolio Manager) discuss what this narrow performance in equities really means, along with how the macro backdrop could impact markets.

They also discuss various stocks well positioned in the current environment. 

 

 

Key times:

  • Examining stock market performance over the past quarter: 1:00
  • Valuations indicating little margin for error as investors price clear skies: 5:30
  • Recession looming? 8:00
  • Antipodes’ current portfolio positioning: 14:30
  • Heineken N.V. (AMS: HEIA): 18:30
  • Amazon (NASDAQ: AMZN): 20:30
  • TotalEnergies SE (EPA: TTE): 28:10

*Stock commentary in this episode is illustrative only and should not be considered as recommendations to buy, hold, or sell any security. 

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3 August 2023
Antipodes