There are a lot of stock market bears out there…
Some still forecasting the collapse of the world.
But as regular readers will know, I’ve been bullish on stocks since I joined Legacy Research in April.
In fact, I believe we’re on the cusp of an epic bull run that will take most investors by surprise.
So, today, I’ll give you reasons why I think you should be bullish, too.
Buying Binge
I like reading newspapers. I’m old school like that.
I don’t read other people’s opinions. I look at the earnings reports. If company earnings are going up, that’s a good sign for investors.
And as the Wall Street Journal reports, last month, automaker General Motors raised its full-year profit outlook. GM cited consumers’ willingness to spend big on high-end models, even as the company tightens its belt.
Now, there’s an old saying, “Wherever GM goes, so does the U.S. economy.” And GM is bullish right now.
Or take Microsoft. It’s one of world’s largest software companies. And sales for the three months through March rose 7% from a year earlier.
Or take jet makers General Electric and Raytheon Technologies. They’re the two biggest makers of plane engines. They recently disclosed stronger quarterly financial results, reflecting the continued recovery in air travel.
Airline passenger traffic is set to surpass 2019 levels shortly.
Again, that’s bullish news.
And General Motors and Hyundai Motor Group announced new investments to produce electric car battery cells in the U.S. Samsung did the same.
And European airline company Ryanair is in a $40 billion deal with Boeing to buy a heap more aircraft.
Or look at Air India. It just announced that it would buy 500 new airplanes from Boeing and Airbus.
That’s a lot of aircraft. It’s going to keep Boeing busy for years.
And there are other bullish signs out of Europe…
More Bullish Signs
Germany’s main stock market index, the DAX, has powered to a record high.
When an index hits a record high, it’s telling you that the earnings of the country is increasing. You don’t get serious recession when that happens.
And in Britain, a group called The Peninsula Hotels is building an exclusive residency in Jakarta, Indonesia, where I’m based.
This is lofty. It’s got residents dining in four individual dining venues. They’ve got a chauffeured Rolls-Royce fleet service and dedicated concierges.
About 70% of that has been sold already. I think the top end penthouse went for more than $100 million.
And, coming back to the U.S., President Biden has put in place several subsidies for U.S. manufacturing products, mainly semiconductors.
We don’t have a capitalist country anywhere in the world. There’s no free market, really. Governments are constantly trying to uplift business.
And like him or not, Biden has set aside $200 billion Biden for U.S. manufacturing projects. This is going to work.
Over the next couple of months, you will read how that’s going to happen. There’s some very, very big money going into semiconductor industries.
Does this sound like a time to be bearish to you? It doesn’t to me. And I’ve been in this business for 30 years.
2023 Is Not a Down Year
Forecasting the collapse of the world is an easy sell.
I don’t know why, but a lot of people like to hear it. They think things are going to hell. So, they invest accordingly.
Right now, the big story is that we’re going to have a recession. And that this is going to take down stocks.
But I’m here to tell you this is the furthest thing from the truth. It’s just not going to happen with all the growth happening right now.
The bears think it’s going to happen. But from what I’m seeing, 2023 is not going to be a down year.
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