J. Jeffrey Auxier is President of Auxier Asset Management LLC and Founder of the Auxier Focus Fund. Prior to forming Auxier Asset Management in 1998, Mr. Auxier spent 16 years at Smith Barney — formerly Foster Marshall-American Express, then Shearson — where he was on the Portfolio Management Advisory Board and the Chairman’s Council, and was Senior Vice President of Investments and Senior Portfolio Management Director.
In his exclusive 2,874 word interview with the Wall Street Transcript, Mr. Auxier lists some stocks that he like to own on a pullback in the market:
“We’re looking for strong business franchises that are utilizing platforms and data analytics. For instance, companies along the lines of an Alphabet (NASDAQ:GOOG). It’s not quite a buy right here, but it’s one that, longer term, we would like to own in a bigger way. They’re a leader in predictive data analytics and artificial intelligence.
YouTube is growing twice as fast as Facebook (NASDAQ:FB) and has over 1.8 billion users. It achieved 20% revenue growth this past year. And they’ve got Waymo, the industry leader in self-driving cars. It took six years to test the first 1 million miles. This year, they went from 7 million to 8 million miles in one month. This model represents a powerful platform that has exponential possibilities in a linear world.
The balance sheet is solid, with $100 billion in short-term securities or cash. It’s very disruptive. In total, advertising in the U.S. right now is running at the lowest rate since 1946. So digital advertising still has huge potential. Companies that have the best data can help the customer better target their market.”
Another stock that has become quite cheap is also on Jeffrey Auxier’s screen:
“Another one that’s really out of favor and is struggling is Wells Fargo (NYSE:WFC), which has been working hard to earn back their customers’ trust with customer-friendly initiatives such as Overdraft Rewind and minimizing standard monthly service fees. Now you’re kind of forced to buy bad news. Either you have to pay a higher price or deal with controversy. That’s another company that’s really cheap, although they’ve got some pretty serious problems, but we think those problems are fixable.”
Read the entire 2,874 word interview in the Wall Street Transcript to get all the top picks from Mr. Auxier.
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