However, investors can profit by targeting companies in defensive sectors and technology.US stocks are off to a stronger start in 2023 than almost anyone on Wall Street expected.forecast that the S&P 500 would rise above its current level of 4,110 in 2023, and three of them predicted US stocks would need a late-year surge to do so. Even the most bullish firm, Deutsche Bank, thought the index would fall 17% in the first half of the year.
The market veteran added:"You have to prepare for what you think might be the worst and then be pleasantly surprised. If it doesn't get as nearly negative as I say, great — I'm willing to be proved wrong. I hope I'm wrong."Although Polcari thinks stocks broadly will slide, he sees several attractive opportunities for investors right now, including stocks in defensive sectors, dividend payers, and mega-cap tech.
While stock-pickers of all ages can consider those investments, Polcari doesn't believe in a one-size-fits-all portfolio. Younger investors should be more aggressive and take chances, he said, while those close to retirement should limit their exposure to high-risk, high-reward stocks. "Your outlook and time horizon is so much different than mine," Polcari said."I'm on the back nine; you're on the front nine. You've got 18 holes to play; I've got two left to play. So my portfolio's going to look more conservative than yours, and it should be."
Risk-averse investors should focus on stocks that pay dividends and are in recession-resistant sectors like healthcare, utilities, and consumer staples, Polcari said. Three companies that fit that mold are
I don’t have a buck to be a sub but I want to invest right now, wtf cares if it’s Saturday. Can I have the tickers, pls?
gFy
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