58. Why the US stock market may have already bottomed

Hugh Grieves, co-manager of LF Miton US Opportunities fund, takes us on a whistle-stop tour of the US. He talks to us about the potential impact of the huge government stimulus package; who he thinks will win the presidential election; why he thinks the stock market has bottomed; why it’s best to invest in smaller companies in the depth of a recession; and why it’s not necessarily the tech stocks that will lead us out the other side…

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LF Miton US Opportunities fund has a greater emphasis on medium-sized companies than most of its peers. It is highly concentrated with just 35-45 holdings and invests in capital-light businesses with strong reinvestment opportunities capable of compounding over time. The fund’s managers have the flexibility and pragmatism to adjust the portfolio to different market environments, and they have been very active in the past few months.

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