- Monetary policy is different.
- Fiscal policy is different.
- There are far fewer publicly traded U.S. corporations than in the past, creating something of a scarcity effect. Many corporations have also bought back stock throughout the long-running U.S. economic recovery, making their shares scarce as well.
- Investment itself is different. Many people simply throw money at passive investments like mutual funds and ETFs, which are far less discerning than traditional stock pickers are.
What I Think Right Now
And I know you're saying: "Sarge, you don't trade health care?" I do, but for the purpose of investment, I use ETFs.
- Defense stocks, particularly missile-and-fire-control plays like Lockheed Martin (LMT), which I recently boosted my stake in.
- Infrastructure-type plays, as President Trump tries to get the idea of a major federal infrastructure program off of the floor.
- Transports other than airlines.
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