I was golfing with a few friends at Liberty National on Friday. It was a beautiful Manhattan day and as our boat pulled back to the harbor at Tribecca, we passed the spectacular ‘Freedom Tower’. Next to the Tower is the Goldman Sachs building. It too was a beautiful building and I could easily see the money Goldman is putting to work in downtown Manhattan to make it a great place to live (even if only for wealthy Goldman employees). They are winning.
Goldman hit 52-week highs Friday and while I love to hate them, they are the US Bank best positioned for the disruption coming to all the other banks from technology, especially Google and Apple. They are the anti-leisure stock I would own in a leisure portfolio.
It has been a while since I have really thought about US Stocks and markets. But, America is winning the ‘war on leisure’ and it is our number one export along with content and culture.Apple put the hammer down again with the iPhone 6 and watches to bring the world of leisure and lifestyle ahead of even technology.
Since February, I have been much lighter in stocks and chopped around a lot in breakouts and momentum.
Recent price action of some leaders (including Goldman Sachs) has gotten me more engaged.
I am long $AAPL and it’s back as the largest company in the world and with Apple pay likely to create hundreds of billions in revenue over the next decade, the first $1 trillion company is at hand.
I have been long $NKE in my fund forever and that broke out to all-time highs. The better returns have come from UnderArmor $UA, which I have owned,but globally it is Nike that people consider our athletic leisure company.
Google is also a stock I own in my fund and while they will need to acquire their way to a better payment solution to compete with Apple, they are serious about leisure as well with UBER, Android,self driving cars, drones and robots.
The travel stocks have been fantastic, but at the moment I don’t own any. Priceline $PCLN has been the proxy for this leisure trend, but Trip Advisors $TRIP has been a huge winner as well.
On the fast casual food side it has been Chipotle’s, but look for more winners here as America can’t kill it’s taste and addiction to eating out and getting food fast and casually.
I like to keep things simple when investing in trends. The media would like you to think the world is ending, but our appetite for leisure is the big story.