World's Most Important Stock? CNBC -- Fast Money -- February 23, 2024

Locator: 46882FASTMONEYCNBC.

Early this morning, I posted by two "buys" today:

• TSM
• BRK

On CNBC's "Fast Money," the first segment was to ask the "world's most important stock."

Stock named, by first panelist:

• TSM

Next panelist:

• nervous about NVDA
• agrees with TSM

Third panelist:

• NVDA
• TSM

Then, :

• Home Depot
• in-flows into "materials"
• energy: worst performer
• small market cap: still struggling -- capital access? Capital cost?

Now, back to general question. Again:

• NVDA

Conversation back to high interest rates:

• investors won't be affected by Fed rate until at least July, 2024 
• sounds as if analysts are getting tired of talking about rates and getting back to talking about "it is what it is" and time to invest with that in mind
• folks on sidelines waiting because they worried about souring economy
• folks on sidelines waiting for Fed to cut rates
• time for "waiting" investors to start doing something, anything, anything but waiting;
  
• finally someone says what no one else is saying:
• we're in the sweet spot right now; there's no difference between 5% and 4%
• if we suddenly drop to 2% it means something horribly wrong with the economy
• if we move to 7% it means investors have to completely re-adjust their thinking about their investment strategy

Global equities (MSCI World Index makes major move today):

• US S&P 500 makes up 50% of global equities
• global equities, as measured by the MSCI Worrld Index, this week, finally got back to "even," recoups all its losses for the past two+ years;
• finally, emerging markets
• bottom line: great time for investors
• India: 52-week high today

SPDR consumer staples:

• great movement today - this week: not seen since August
• first mentioned: WMT
• also: Costco
• but as a sector: flat, no growth, or negative growth
• 6% of the S&P, KO and Procter make up a third
• investors should think differently about staples; investors can do better
• then panelists try to justify because staples pay dividends (think Buffett; old school)
• in this sector: stock picking: Pepsi, Hershey, Tyson but then back to WMT
• WMT / Cost growing faster than economy in general
• basically, a balance to those who did well with Nvidia
• but staples overall? Investors can do better.

Carvana.

Final trades:

• iShares MSCI India ETF
• Abercrombie and Fitch
• Rivian
• WMT

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All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them. 

Again, all my posts are done quickly. There will be typographical and content errors in all my posts. If any of my posts are important to you, go to the source.

Reminder: I am inappropriately exuberant about the US economy and the US market.