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American Equities An Investment Priority, Goldman Sachs Honcho Says

Goldman Sachs' Meena Flynn is advising her clients to keep a close eye on financial companies, energy and health care stocks.

As you're planning your investment strategy for the year, you might have your sights set on some major international players amping up production of electric cars or solving the ongoing semiconductor shortage.

But Meena Flynn, co-head of global private wealth management at Goldman Sachs, believes that you need to keep your sights local even amid inflation and a hawkish Federal Reserve.

"Our view is that we are in a multi-year expansion, and that the economy and equities should perform well this year," Flynn told Bloomberg in an in-depth interview. "We prefer U.S. over international equities and value over growth sectors."

Some of the sectors most poised for growth include the energy sector, health-care stock and financing companies that will profit from a looming rate hike making borrowing less accessible.

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"We’re leaning into opportunities at the cross section of technology and other sectors that are ripe for disruption, such as health tech and fintech, to be at the forefront of secular change in the market," Flynn said.

For alternatives, she is advising clients to look at real estate (home prices in places like Southern California have soared by more than 16% in a year in November) and companies that use blockchain. 

The metaverse, an abstract concept for a new version of the internet that has users move through the space in augmented and virtual reality, is also worth monitoring as early innovators in the space can see monumental growth when the concept goes mainstream.

"To get exposure to these themes in the private markets, investors could seek out venture capital firms that have an explicit focus on innovators in the space," Flynn said.