Doug Foreman was quoted in today’s Wall St. Journal in the article “Just 10 Stocks Fuel Half of S&P’s Gains” in the Markets section. The article focuses on the fact that gains in a handful of stocks, mostly technology and internet, are responsible for 52.5% of the S&P 500’s advance in 2017 through this past Wednesday. Apple, Facebook and Amazon by themselves account for nearly a third of the increase.
“If these businesses keep growing then the stocks are going to keep going,” said Doug Foreman, chief investment officer and portfolio manager at Kayne Anderson Rudnick, which owns shares of Netflix Inc., Amazon and Facebook.
“All of these stocks are priced to grow and until they stop growing they will support their valuations,” said Mr. Foreman.
If you have a subscription to the online version of the Wall St. Journal, you can find the article here: