Wall Street veteran sees 'once in a generation buying opportunity' in unloved areas of global stock market

One Wall Street veteran thinks so, and that investors need to pounce on the “generational buying opportunity” in unloved areas of the global stock market, which is to say, practically everything else.

“Much like after the deflation of the Technology Bubble, investors could be facing another ‘lost decade in equities,'” Bernstein said in written commentary. The so-called “Magnificent Seven” is a group of seven megacap U.S. stocks that includes Apple, Microsoft Corp. MSFT, +0.93%, Google owner Alphabet Inc. , Amazon.com Inc. AMZN, +0.80%, Nvidia and Facebook and Instagram owner Meta Platforms Inc. META, +0.42%

Following last week’s rally, the S&P 500 was up more than 13% on the year, FactSet data show. U.S. small and midcap stocks have lagged the S&P 500 and technology-heavy Nasdaq-100, the index that has benefited the most from the outperformance of the Mag 7. See: Emerging-market stocks are looking cheap, especially relative to the U.S. Does that mean it is time to buy?

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Hedge funds left behind as stocks, bonds scored best week of 2023, data showsJoseph Adinolfi is a markets reporter at MarketWatch.
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Stocks enjoy best week in a yearA perfect combination of data, Fedspeak and earnings are putting wind in Wall Street's sails.
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