Bill Baruch joined the CNBC Halftime Report to cover his latest moves in tech. Don’t miss what stocks he’s buying.
Well, I mean, I think Bill Baruch, you know, one of our committee members thinks the same. He joins us now because he’s buying more alphabet. It goes to the conversation we’re having now about whether, you know, this near-term pullback in some of these names is, in fact a buying opportunity to which you think it is.
So thanks for having me on, Judge. But you said that this is the panic downgrade. This is the panic selling. I agree with that. I think that this is the last bit of that proverbial shoe to be dropping right now. Over the past month have been talking about a level in the S&P. And I watched the futures, 4200 to 4235, and it pinged that last night overnight.
And we’ve been able to move off of that sort of projecting this. So I think you step back. I do think that tech is going to outperform. I do think that rates are at the peaking level here, at least in the two year. So I want to own the big tech and I think tech’s going to lead through the quarter for, like Joe said, if you’re a money manager looking to outperform, where are you going to look?
So I want to own the best assets within Tech and I’m watching Alphabet right now. I think Alphabet has really outperformed that is draw down in the market. It’s not even down 1% over the last month. And if you look at it outperforming, it’s at a 52 week high, outperforming against the Qs, making a new high here today, meaning if the accused are up 1% on pace, how of it maybe outperforming by one and a half percent or one and a quarter percent?
Just got to put that relatively the relative outperformance on alphabet is here and it’s it’s noticeable. I want to own that. We basically doubled our position. We had trimmed it back in July. We basically doubled our position. It is now our highest weighted stock at roughly about 7% within the portfolio. Wow.
Apple number two, Amazon number three. So, you know, you you need rates to to stop going up for the Nasdaq to stabilize for any meaningful period of time, correct?
Yes. And I think there’s always going to be hurdles. I mean, non-farm payroll coming around the corner. And Friday, maybe it’s one last stretch for everybody getting a job here coming out of the summer. But ADP was a little bit of a fall out today. So is there any any sort of light at the end of the tunnel, the job market, obviously, CPI around the corner as well.
But but energy’s coming down. I think some components we’ve been seeing, especially within PKI at the end of the last month, you’re seeing inflation come down. So I think we could be at a little bit of a peak here in rates, a bottom in Treasury prices, meaning as we’re looking for here, that’s going to bring a really good tailwind.
I’m turning that into saying I want to be buying more tech as a leadership here in quarter four.
Yeah, appreciate it very much, Bill, Thanks. We’ll see you on the desk one day soon, I’m sure. Jason Stein, you got Google as well among some of the other tech stocks