Ashley Webster (@AshWebsterFBN) filled in for Liz Clayman (@LizClaman) to interview Lee Munson, Founder and Chief Investment Officer of Portfolio Wealth Advisors on Fox Business Network’s hit show Countdown To The Closing Bell. We asked Munson his thoughts right after the interview.
“It’s Friday the 13th and the only boogeyman is the absurd thesis that the U.S. consumer is dead. We just saw 400,000 people line up to buy a Tesla that won’t be ready for a few years. Not sure that is how a dead consumer acts. Just keep in mind it’s the stores that stink, not the consumer. Go into a Macy’s or Old Navy and look at the mess. I would rather buy online using Amazon Prime and return stuff for free. What we need to look at is where the growth is. Online shopping or e-commerce is growing faster than brick and mortar stores. Those that can walk and chew gum at the same time are going to win. If you are an investor, it means capitalism is alive and well and working out the weak players and rewarding those that can monetize consumers needs.”
When asked about the news topic of the day, the market capitalization of Google overtaking Apple, Munson fired off.
“It’s irrelevant. We buy stuff on our phones. Both those companies make those phone and control the market. So, Google has done a better job convincing investors they will make a lot of money doing this. Apple has only made people nervous by using share buy-backs versus spending on new product development.”
If you would like more information on how Lee Munson can help you spend more time on the mountain, contact him at [email protected] or 505-301-7399.
Watch the video: https://www.facebook.com/LizClaman/videos/974208825981103/