“Industry Perspectives” 4Q 2020
The impact of the COVID-19 virus has been seen throughout all sectors of the economy and government, but we foresee robust U.S. economic growth starting in the second half of 2021. During the post-vaccination period this year, pent-up demand for virtually everything outside of home will provide a springboard for a dramatic economic recovery.
In this latest Industry Perspectives, we discuss:
- We believe the mainstay of a healthy stock market in 2021 will be profits, not lower interest rates and their accompanying higher price-to-earnings ratios.
- We see robust U.S. economic growth starting the second half of 2021, with the stock market producing a positive, but more modest return this year.
- Sometime this year COVID-19 risk will fade, relations with our allies and rivals will improve, global GDP growth will rise sharply, and a pickup in inflation could become a possibility.
We get to know the companies we invest in and learn how they run their business.
Top-Down & Bottom-Up
We identify Top-Down broad, secular growth trends and search for companies from the Bottom-Up.
We construct our portfolios based on our own proprietary investment strategy.
Sticking to our disciplined investment strategy ensures we maintain a consistent, balanced approach.
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