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Buy this, not that

Jul 27, 2023

Good morning! 👋

The Dow just closed its 13th positive session in a row, a record not seen since 1987.

If it closes higher today, that’ll tie a record set back in 1897!

How ‘bout them apples, as my grandfather would say.

Not that I’m surprised.

A report just crossed the wire this morning showing that GDP grew at 2.4% in Q2, despite a litany of reasons the bears insisted would result in the end of the financial universe as we know it. (Read)

Remember: It is absolutely possible to be a market bull and an economic bear at the same time.

What an incredibly exciting time to be an investor!

Here’s my playbook.

MCD: More fries with that!

I said recently during an appearance on Varney & Co that I thought MCD would be a “sleeper,” and this morning’s earnings report suggests I was on point.

Uncle Ronald beat top and bottom-line estimates for Q2. (Read)

Reports attributed the beat to the return of Grimace, a much-loved mascot from a bygone era, and a resurgence of sales in China. But the real jump going forward—and what you’ll want to focus on—will be continued international growth, ongoing restructuring, and, of course, margin-boosting tech.

I’ll be discussing all three of these things in the August issue of One Bar Ahead®, which will be hot off the presses next week if you’d like to join the Family. Upgrade to Paid

Props to Zuck

I gotta give Zuck props.

As much as I dislike his style and META as a company, he’s pulled yet another rabbit out of the hat and posted strong numbers as digital advertising revenues have returned. (Read)

Good thing.

The latest results are taking the heat off the mess that was the Metaverse.

I’m concerned, though, that CFO Susan Li says the positivity comes from Chinese companies and online retailers, which in many cases, I have heard anecdotally, are one and the same.

Hmmm.

Comcast jacks prices to counter slowing growth

Broadband growth is slowing as people continue to walk away from cable— also called “cutting the cord.”

And what does Comcast do?

Boost prices.

I say take a lesson from MCD and deliver value, but what do I know.

The company beat expectations and turned a profit. (Read)

I’d rather own, well, dang near anything other than cable TV at the moment as the streaming wars intensify. But that’s just me.

PACW + BANC: Rearranging the deck chairs on a sinking boat?

PacWest and Banc of California agreed to merge in an all-stock deal to create a bank with $36 billion in assets. (Read)

Shares skyrocketed on the news, sending PACW up +26.92% and Banc of California (BANC) +0.62%.

Interest rates are now at the highest levels in years, which makes me think the move is a sign of weakness intended to help both companies survive, rather than a sign of strength as would have normally been expected in a merger like this one in the past.

I’d rather own JPM.

Join me in Las Vegas

We’re only a few weeks away from the Las Vegas Investment Masters Symposium.

I’m super excited and, as always, hope that you’ll join me.

Please click here to register.

I’m going to be speaking several times about what it takes to invest successfully, which stocks can put you ahead of the herd AND help protect your hard-earned wealth at the same time.

I’ll also be talking “Fed Pivot” with my friends Charles Payne, Lindsey Piegza, and Kenny Polcari as part of a panel discussion intended to help you sort out fact from fiction as well as what to do next with your money.