102. Americans: repairing, remodelling and ready to vote

Hugh Grieves, co-manager of LF Miton US Opportunities, tells us about the stocks that have benefitted from American’s continuing to work, but stopping going out. He explains why the US economy is like a four-lane highway with just one lane badly in need of repair, tells us about the potential impact of a Biden election win, and gives us examples of firms that once dominated the US stock market, but which have since fallen from favour. Will Apple meet the same fate?
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LF Miton US Opportunities is a highly differentiated active US equity fund, with a greater emphasis on mid-caps than most of its peers. The fund is concentrated with just 35-45 holdings and invests in capital-light businesses with strong reinvestment opportunities capable of compounding over time. It has an excellent, well-defined process, whilst its managers also have the flexibility and pragmatism to adjust the portfolio to different market environments.

Read more about LF Miton US Opportunities


What’s covered in this podcast:

• What type of stocks the manager bought during the crisis when people kept working but stopped going out [0:38]
• Other companies, like children’s nurseries, which survived and became stronger [3:30]
• Why the big tech stocks have seen their share prices increases [4:54]
• Examples of firms that dominated the US market in the past but don’t today [5:50]
• Whether value stocks have already started to make a comeback [8:29]
• What might happen if Biden wins the US election [10:45]
• If a vaccine will be found and how long the US recession may last [12:45]
• If US [13:25]/China trade wars will continue [14:05]

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