Best Investment Right Now
Nvidia and Hermès on top
Big Tech still dominates as Nvidia grew 49% year to date, passing Google owner Alphabet and Amazon to become the 4th largest company in market cap share. So far this year, Nvidia has added $602 billion in value, increasing its market cap to $1.83 trillion above alphabets $1.82 trillion.
Some of Wall Street’s biggest investors have shown interest in Nvidia, Amazon, Alphabet and Alibaba. Michael Burry’s hedge fund, Scion Capital, added 35 000 shares of Alphabet, 30 000 shares of Amazon and boosted bets on Alibaba and JD.Com, while the world’s biggest hedge fund firm, Bridgewater Associates, increased its stake in Nvidia by 458% by adding 220 000, shares along with Alphabet at 465 000 shares. Berkshire Hathaway, however, preferred energy stocks by adding more Chevron and Occidental Petroleum stocks to its portfolio.
Consumer spending in China seems to be picking up as holiday travel increases. There has been a surge in travel over the last year as the Chinese New Year festivities got underway. Could this be the start of economic stimulation for the world’s second-largest economy?
Japan, the world’s third-largest economy in US dollar terms, has slipped into a technical recession, ceding its title to Germany.
Hermès International saw an 18% jump in revenue, bolstering the luxury – $ 10,000 a-piece Birkin bag – group to $246 billion. This is due to the family-controlled six-generation old manufacturer fortune still linked to luxury leather goods and saddlery that comprised 41% of its 13.4-billion-euro revenue. Hermès profits, unlike those of other luxury goods manufacturers, are not reliant on seasonal factors, sell only to the super-wealthy, and don’t give discounts. This all adds to higher profit margins.
Asian markets seem to be sluggish and struggling with global inflation. Big tech still appears to be the favourite of Wall Street investors, along with energy and oil stocks.
The above is for educational purposes only and does not constitute advice. You should always contact your advisor for a personal consultation.
*No liability can be accepted for any actions taken or refrained from being taken, as a result of reading the above.
