他表示：“降低对这些高贝塔股票的敞口，因为它们一直处于如此(高)的水平。它们在过去两年里增长如此之快，估值如此之高。不要指望这种速度会持续下去。”Wasserman stated that he expects the overall stock market to soon drop by 10%, which will lead to a decline in the "seven giants."
According to Zhituo Finance APP, Max Wasserman, a senior portfolio manager at Miramar Capital, stated that investors should reduce their positions in the "seven giants" of the U.S. stock market and reallocate capital to "safer, lower-valued dividend growth stocks" to reduce portfolio risk in 2025.
In an interview, Wasserman indicated that he expects the overall stock market to soon decline by 10%, which will lead to a drop in the "seven giants" - Apple (AAPL.US), Microsoft (MSFT.US), Google (GOOGL.US), Amazon (AMZN.US), NVIDIA (NVDA.US), Meta (META.US), and Tesla (TSLA.US).
He stated, "Reduce exposure to these CSI 300 High Beta stocks, as they have remained at such (high) levels. They have grown so rapidly over the past two years, with valuations so high. Don’t expect this pace to continue."
He pointed out that the risk-reward is currently asymmetric for mega-cap stocks.
Additionally, Wasserman suggested maintaining short-term investments in the bond market. "We are seeing 10-year U.S. Treasury yields fluctuating above 5%, or even higher."
"There are other parts of the market with more reasonable valuations," he said, "We believe that the equal-weighted portion of the market looks more valuable, and the returns are better."
He is Bullish on Medical Care companies like Merck (MRK.US), Bristol-Myers Squibb (BMY.US), and AbbVie (ABBV.US). He is also Bullish on some defense Stocks, especially Lockheed Martin (LMT.US) and General Dynamics (GD.US).
Wasserman noted that since the Federal Reserve indicated it will reduce interest rate cuts next year, the higher interest rate environment could really "stifle growth Stocks".
"The pricing of the 'Seven Giants' is perfect; everyone is pricing these things, believing they will grow by 20-30% per year over the next three to five years. Historically, this does not happen. I believe this market will see a correction, as this is the cost of chasing perfection."
