Nick Ford, co-manager of the CF Miton US Opportunities fund, analyses the big capitalisation stocks of today, which could be classed as the new ‘nifty fifty' for this decade.
“Stocks with persistent earnings growth are often worth far more than the multiple that Wall Street considers reasonable” - Jeremy Siegel (1998) The ‘nifty fifty’ period of the early 1970s is famed for tremendous returns generated by a collection of US large-cap companies for several years. The 1970s bubble occurred when financial institutions crowded into the best names. During the current period of macroeconomic uncertainty, it could happen again. Today, there are a vast number of potential nifty fifty type candidates within the S&P 500, and global investors looking for ‘safe’ blue ...
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