Yahoo financial Live revisits the calls made at the end of last year to see which hold up and which are in need of repositioning. Laffer Tengler Investments top executive & CIO Nancy Tengler and Great Hill Capital Chairman and Managing Member Thomas Hayes join Yahoo financial to revisit and update last year’s calls.
Hayes outlines his industry plan amid a surging industry: “We’ve been publicly bullish nonstop for a year and a half, and we’ve recently become more cautious. We’re up 17 out of the last 21 weeks. No 2% pullback in the last 100 trading days. So, in recent weeks, we put on a 2% hedge: 1% put spreads on the S&P, 1% put spreads on the semiconductor index, and 98% long. So if we’re right, those have an expected value of 5x each.”
Tengler addresses risks on her radar: “We started broadening out the investment mix, really to have the improvement in some of the names that we’ve seen in healthcare, financials, some of the more cyclical names…But my biggest concern is that the Fed seems to be, I guess, walking away from their data dependence, and I’ll put quotes around that, that they’ve had in the past. And it seems they’re determined to cut. We’ve drawn an analogy to the 90s. We think you can have higher inflation, but not materially higher. So that’s my worry, that we get a surge in inflation because the Fed is too easy.”
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