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Finance
My godmother taught me to live without financial fear
Mom’s Day has all the time been troublesome for me, however this 12 months it was brutal.
On April 22, I bought a name that felt like a punch within the intestine. My beloved godmother, Lois, had died at 77.
My very own mom was challenged in so some ways, and he or she deserted me and my 4 younger siblings to the care of my maternal grandmother, Large Mama.
For those who’re a daily reader, you might be almost certainly aware of my tales of Large Mama. Her monetary knowledge has been the idea of a lot of my recommendation over the 25 years I’ve written the “Colour of Cash” column.
Large Mama taught me find out how to reside under my means and to hate debt prefer it was the satan himself. I am a super-saver due to my grandmother.
Lois, or the Rev. Lois Bethea-Thompson, handed on a special monetary legacy. Whereas my grandmother was petrified of me going to school, Lois inspired my pursuit of upper schooling. She modeled generosity past her nuclear household. She confirmed me the facility of exhibiting up for not simply the large life occasions however for the minor ones, too — and what that may do to elevate folks’s confidence and assist them succeed.
A lot monetary recommendation facilities on find out how to save and make investments, however extra must be mentioned about utilizing your wealth to complement the lives of others — not simply these in your family or genetically associated to you. Lois epitomized what it means to have a generosity of spirit — that may be monetary, however it may additionally imply giving of your self.
Lois collected folks, including to her life’s mission the care of anybody who may gain advantage from some further motherly love and a spotlight.
I met Lois after I was hospitalized as a toddler with juvenile rheumatoid arthritis. She was the director of the bodily remedy division at Provident Hospital in Baltimore. My legs had been so weak from the illness that I wanted each day bodily remedy to assist regain my means to stroll. When Lois heard that my mom was in my life irregularly and that I used to be being raised by my grandmother with 4 different siblings, she claimed me as her goddaughter.
Her adoption of me as one in every of her personal modified the trajectory of my life — and my profession.
Underneath Large Mama’s tutelage, you settled for security. I perceive why my grandmother was so scared for me to attempt new issues, even leaving my hometown Baltimore paper, the Night Solar for the Washington Publish.
To Large Mama, new may imply failure.
Lois taught me find out how to reside with out monetary concern. She was a Black entrepreneur who prospered working her personal bodily remedy apply in an trade that was rife with discrimination. She uncovered me to a world wholly completely different from the low-income childhood I skilled.
The primary time I visited her single-family dwelling in a tony upper-income neighborhood in Baltimore, I used to be in awe. It wasn’t simply the home that impressed me however the grace of Lois’ caregiving. She all the time made me really feel so welcomed in her dwelling. There wasn’t a room in her home you could not go into, not like houses the place the lounge wasn’t to be lived in however was a showplace with furnishings coated in plastic that you simply’d nonetheless higher not sit your butt on.
The way in which she cared for folk impressed me to observe her lead. When my husband and I bought our first dwelling, we deliberately opted for extra space to accommodate members of the family who would possibly want a spot to remain. We have had a number of long-term residents, all through our possession of three houses.
Lois believed that your wealth is not simply your personal. It is best to reside to present, she preached — and he or she lived by instance.
Lois taught me that in the event you’ve saved for it, you could possibly spend cash for enjoyable and never fret or really feel responsible. I nonetheless wrestle with that, however much less so due to my godmother.
It is due to Lois that my husband and I made a decision greater than 20 years in the past to take two-week holidays, usually bringing alongside prolonged members of the family simply as she would do when she took journeys. The reminiscences we have created visiting locations akin to Aruba, Hawaii, St. Thomas and, our favourite summer season jaunt, Hilton Head, S.C, are priceless.
Large Mama checked out frequent vacationing as a bit reckless, fussing that such funds ought to be saved in my financial savings account for future emergencies. Lois considered spending on journey as an funding in life experiences that pays a special form of dividend.
What I’ll keep in mind most is how Lois confirmed up for every little thing — graduations, my child’s performs, certificates ceremonies, music recitals, and after I would do monetary workshops at my church.
As dad and mom, we frequently assume our youngsters want so many materials issues. However Lois, whose love language was giving, additionally understood that being current meets youngsters’s wants in ways in which cash cannot purchase.
I am a greater mom due to Lois. I benefit from the fruits of my labor extra due to Lois. This Mom’s Day, I wept with out her presence as a result of it was precisely that — her being current — that helped me lead a extra fulfilling, much less fearful life.
Singletary is private finance columnist for the Washington Publish.
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“Semfi from HSBC (derived from seamless, embedded finance) will embed HSBC payment, trade and financing solutions across a range of e-commerce and marketplace venues, including Tradeshift’s own B2B Network.
“This marks a transformative step in Tradeshift’s ability to deliver vital, value-adding services to our network, tackling a key challenge for businesses: access to liquidity, cash flow management and seamless financial integration within supply chains.
“With Semfi now in the mix, we’re ready to rapidly scale to meet the demand for these services across a broad range of businesses.”
What’s next for SemFi?
Although SemFi will launch first in the UK, HSBC plans to expand the service globally over time. The venture is designed to operate as a technology company rather than a traditional bank.
Clients will be onboarded by HSBC, and the bank’s balance sheet will be used for financing, but the goal is to offer a tech-forward solution that meets the evolving demands of businesses worldwide.
With HSBC supporting 1.3 million businesses globally and facilitating more than US$800bn of trade each year, SemFi is set to become a key player in the world of embedded finance. For SMEs, the ability to access HSBC’s services seamlessly within their e-commerce workflows could represent a significant step forward in efficiency and growth.
We recently published a list of 10 Wonderful Stocks to Buy Now at a Fair Price. In this article, we are going to take a look at where Emerson Electric Co. (NYSE:EMR) stands against other wonderful stocks to buy now at a fair price.
In H2 of the year so far, there are signs that the S&P 500 index has been broadening beyond technology leadership and the index is reverting to a more normalized state. This means that there are several high-quality stocks outside of the popular names and investors are required to be diversified. This diversification should not be limited to the style level, but also to the stock level. Market experts opine that the AI theme has largely fuelled the narrow market. This concentration, along with an increase in passive investments, resulted in a significant cycle of consensus positioning and stretched valuations. This led to the vulnerability in the market, which resulted in a sharp correction in July and early August.
As per Fidelity International, when it comes to passive investing in the S&P 500, it demonstrates nearly a third of holdings in only 7 stocks. Considering their dominance, a stumble in performance means the index will see a significant impact, and the investors have already seen some mega-cap technology names that are unable to deliver on strong expectations.
S&P 500 Index – Transition and Concentration
The US equities saw an outstanding performance in H1 2024, with the S&P 500 Index rising 15.3%, as per ClearBridge Investments (A Franklin Templeton Company). The investment firm believes that solid earnings results and fiscal stimulus mitigated the influence of higher interest rates. However, the headline performance numbers, aided by a ramp-up in mega-cap stocks and, more specifically, semiconductor leadership, eclipsed the recent signs of deterioration below the surface.
Since the Mag 7 stocks have disproportionately driven earnings growth over the previous 2 years, ClearBridge Investments expects a rebound in earnings among small-cap stocks in the upcoming 12– 18 months. The investment firm believes that small-cap companies have seen the impacts of higher rates. In 2023, profits for Russell 2000 companies declined ~12%. This year, they are up ~13.6%, and for 2025, the projections hover at around ~31%. If this happens, there might be a broadening of the market which should provide an opportunity for active managers.
Opportunities Apart from Magnificent Seven
Companies that are unable to meet hefty expectations might see a disproportionate sell-off, and the stocks riding the wave of AI might be significantly exposed considering the amount of capital deployed versus the uncertain future environment. Given such trends, Fidelity International believes it is unsurprising that so far in H2 2024, there have been signs that the S&P 500 is broadening beyond tech leadership, with some non-tech sectors surpassing the broader market.
There are abundant high-quality stocks apart from the popular names. This means that dozens of companies in the S&P 500 continue to offer a return on invested capital (ROIC) and earnings growth of more than 30%. This is true for several other quality metrics, reflecting an underappreciated depth of opportunity in the broader US equities.
While diversification remains critical, even looking beyond the Magnificent Seven might not necessarily offer the required diversification considering that the US market remains heavily weighted towards growth sectors like IT. As per Fidelity International, diversified portfolios need negative correlations between assets, but few styles provide consistent negative correlations to quality growth companies. That being said, cyclical value and defensive value remain 2 key exceptions.
To get a negative correlation, the investors are required to avoid an overlap at the stock level. As of now, the US market provides a range of attractive stock opportunities that offer this valuable diversification.
As per ClearBridge Investments, the top 5 stocks now constitute ~27% of the S&P 500 and the top 10 make up ~37%. As per the investment firm, this concentration might stagnate near current levels, with mega caps delivering solid, but slower, earnings growth in comparison to the recent past. The investment firm expects that diversified portfolios should outperform in the upcoming 12–18 months.
With this in mind, we will now have a look at 10 Wonderful Stocks to Buy Now at a Fair Price.
Our methodology
We first sifted through multiple online rankings and ETFs to identify quality stocks with wide moats. Next, we selected stocks that were trading at a forward P/E of less than ~23.65x (since the broader market trades at a forward multiple of ~23.65, as per WSJ). The stocks are ranked in ascending order of the number of hedge funds that have stakes in them, as of Q2 2024.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Engineers analyzing a complex network of process control software and systems.
Emerson Electric Co. (NYSE:EMR)
Expected Earnings Growth: 23.4%
Number of Hedge Fund Holders: 51
Forward P/E Multiple (As of September 30): 18.45x
Emerson Electric Co. (NYSE:EMR) is a technology and software company, which provides various solutions for customers in industrial, commercial, and consumer markets.
Emerson Electric Co. (NYSE:EMR) has a wide economic moat, which is mainly based on switching costs, and on brand intangible assets. Moreover, the company’s strong geographic presence and diversified customer base further solidify its moat. Emerson Electric Co. (NYSE:EMR) remains confident in its financial health and strategic initiatives. The company continues to focus on integrating National Instruments and potential share buybacks.
The company expects its backlog to increase YoY as it enters FY 2025. Emerson Electric Co. (NYSE:EMR) has been adjusting its strategy to focus on growth areas like innovation and renewable energy investments while, at the same time, managing softer segments. Therefore, Wall Street analysts are optimistic about the company’s future performance and its strategic positioning in the global automation market.
The company sold its remaining interest in the Copeland joint venture, hinting at the fact that Emerson Electric Co. (NYSE:EMR) is focusing on simplifying its portfolio. It highlighted that demand in process and hybrid markets, which is being led by a constructive capex cycle, has been meeting expectations. In Q3 2024, its operating leverage performance exhibited the benefits of its highly differentiated technology. For 2024, Emerson Electric Co. (NYSE:EMR) anticipates net sales growth of ~15% and operating cash flow of ~$3.2 billion.
Redburn Atlantic initiated coverage on 8th July on the shares of the company. It gave a “Buy” rating and a $135.00 price target. Insider Monkey’s Q2 2024 data revealed that Emerson Electric Co. (NYSE:EMR) was part of 51 hedge funds.
Overall, EMR ranks 7th on our list of Wonderful Stocks to Buy Now at a Fair Price. While we acknowledge the potential of EMR as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than EMR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’
Disclosure: None. This article is originally published at Insider Monkey.
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