Stocks And Themes for 2024

Each year I sit down and think about some of the major themes that investors will focus on as the year progresses. After a year of tech dominance and economic uncertainty, I believe the entire medical industry will see growth and margin expansion this year that can finally be expressed in share prices.

COVID bolstered balance sheets for big companies, and now the test is to see how they continue to deploy their excess capital to treat a rapidly aging population with solid demand for medical procedures, devices, and equipment.

Technology will still play a vital role in the market, though. Companies with robust margin expansion should continue to benefit from increased chip demand and CHIPS Act funds still in distribution.

And with energy demand increasing around the world and growth in newly-freed South American markets, developing markets are a high-risk, high-reward opportunity. Domestic Big Oil is ripe with promising opportunities too, reflected by low acquisition premiums and hightened consolidation in 2023.

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