Charles Schwab is ‘dead money’: Portfolio manager on stock

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Charles Schwab is ‘***** money’: Portfolio manager on stock

The fast-paced world of stock trading can be hard to maneuver, which is why Yahoo Finance welcomes on BullseyeBrief.com Ingenuity Fund portfolio manager Adam Johnson to provide expert opinions on two stocks in this episode of Good Buy or Goodbye.

The Federal Reserve’s higher-for-longer interest rate environment has perpetuated elevated mortgage rates, making it increasingly difficult for US homebuyers to enter into the housing market and close on a deal. For this, Johnson believes Builders FirstSource (BLDR) is a good buy as homebuilders navigate and try to plug gaps in extended inventory shortages.

“Mortgage rates are likely to come down, so if you’ve got inherent demand because there aren’t enough houses out there and you have mortgage rates coming down, so you can actually start to afford houses that, again, it reinforces the argument that you want to be long building type companies,” Johnson tells

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. “You want to be in the housing sector, you want to have exposure to the housing sector.”

Johnson wishes to say goodbye to major bank Charles Schwab (SCHW), calling the stock “***** money” as its growth ******** stagnant and is yet to break through highs from two years ago.

“I keep waiting for the turn, but it hasn’t happened, $6.1 trillion of capital is sitting on the sidelines not being put to work by Charles Schwab clients. But instead in government bonds. It’s just parked on the side,” Johnson explains. “I keep waiting for that money to come in… and propel the market higher, and that may happen. But, again, how long do you want,to wait for that to happen at Charles Schwab? I don’t, I just think it’s ***** money.”

Catch up on Good Buy or Goodbye for more expert insight and the latest market action, or click watch this full episode of Market Domination.

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#Charles #Schwab #***** #money #Portfolio #manager #stock

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