Trim back ‘magnificently’ on Mag 7 holdings, Ryan Payne says

A downside moving consumer confidence that buoyed the market a little. Dow up 150 points as we speak. Ryan Payne with me to analyze the market. He says the Mag 7 as in the Magnificent 7 running out of steam. OK And they’re kind of plateaued. Should I sell them? I mean, I think you have a position there, Stuart, but I’ve kind of been banging the table about this for a while. But if you start looking at their earnings growth, it’s going to start to decelerate over the course of next year where the other 493 stocks in the S&P 500 are going to start to accelerate. And it just like philosophically, when everybody owns the same thing, everybody believes the same thing, you’re probably gonna get some disappointment in performance. Whereas all the unloved sectors out there, they get a lot of, I guess a little less publicity tend to be a better place to allocate your capital. You’re right. I mean, Magnificent 7 tech stocks, they’ve gotten a lot of love piled onto them for many, many years and they’re still at it. We are in lockstep about big tech. You’re right there. But not you don’t sell them right, you hold on. I think you start to trim back significantly or magnificently on those positions just to add in there. You start to look put money elsewhere. I mean I’ll even be bold here today. I mean if you look at the global markets, they’re actually back into economic growth. If you looked at the last three quarters, they two negative quarters, they went positive. They trade at like a 70% discount to the Magnificent 7. You’re getting three, 4% dividends and they’re going to cut interest rates quicker than they are here in the US probably as early as June. And inflation for them has come down much when it’s come down over here on the side of the pond. Well, are you suggesting that we should put Americans should put their money into foreign markets? I know it’s provocative, Stuart, but I would argue right now and it’s a very good time to do that, especially when valuations are much lower. In fact, if you look at in local currencies, the developed markets right now an all time record high as well and the outlook looks pretty good. There maybe slower growth in the US, but slow growth is better than no growth. And again, it’s unloved. You’re getting it at a discount. Well, you buy an ETF from the European market or Japan or the Korean equity fund, something like that, Just an ETF. That’s how you do it. I’m a simple man. I’m from Philadelphia. So I would just buy the ETF. You get capitalization weighted. All the cream will rash to the top. It’s a great place to validate some capital here. OK. We hear you, Ryan Payne. Thank you very much indeed. But I’m not selling my Magnificent 7. I don’t want to pay the tax. We’ll talk later, brother. Yeah, OK, bro.