Geopolitical ‘SHOCK’ creates opportunity for investors: Laffer Tengler Investments CEO

FRIEND OF LONG-TERM INVESTORS. WEAKNESS TO ADD TO HIGH-QUALITY NAMES. IN NANCY TENGLER, SOMETIMES I THINK THEY ARE MORE FRUSTRATED THAN FEARFUL BUT FOR A LOT OF INVESTORS GETS IS JUST FRUSTRATION, IT FELT LIKE WE WERE OFF TO THE RACES AND NOW WE ARE NOT. >> I THINK YOU POINTED BEST, IRRATIONAL PESSIMISM, CAN'T PENALIZE HYPER SCALARS FOR SPENDING TOO MUCH MONEY AND ALSO PENALIZE THE RECIPIENTS SO HAVE TO STEP AWAY AND SAY WHERE DO I THINK WE ARE IN THIS CYCLE AND HOW LONG WILL IT TAKE TO GET THROUGH THE GEOPOLITICAL SHOCK? USE IT AS AN OPPORTUNITY BECAUSE I HAVE A SON OVER THERE SO IT'S MY FEAR AS WELL, BUT THE ADMINISTRATION NEEDS TO GET THIS DONE SO OIL PRICES CAN COME BACK AND AND I KNOW THEY WILL NOT COME BACK TO PRE-LEVELS. >> 120 TO 68 IN A BLINK OF THE KNIGHTS OF AS LONG AS YOU ARE MOVING IN THE RIGHT DIRECTION BUT A TRILLION DOLLARS HAS TO BE REFLECTED IN SOME STOCK SO HOW DO INVESTORS AVOID MAKING MISTAKES IN THIS ENVIRONMENT? >> YOU ARE GOING TO MAKE MISTAKES, THE GOALAL IS TO BE MOSTLY RIGHT OUR BUSINESS SO I THINK YOU HAVE TO GO WITH THE WINNING MANAGEMENT TEAM SO I HEARD YOUR PREVIOUS GUESS WHO'S VERY GOOD AND SMART ON THESE ISSUES TALK ABOUT THE ISSUES AT GOOGLE. THE QUESTION BECOMES, CAN THEY SOLVE THEM? WE ADDED IT TO OUR VALUE PORTFOLIO IT'S UP 110%, 102 AFTER TODAY, THOSE OF THE COMPANIES YOU WANT TO LOOK FOR. WE SHIFTED OUR FOCUS TO NVIDIA BECAUSE WE FOUND IT IN GROWTH BUT HAVE ADDED IT TO OUR VALUE PORTFOLIO BECAUSE IT'S TRADING LIKE VALUE STOCK AND THEY ARE A DILUTION SO YOU WANT TO LOOK FOR THE COMPANIES WITH RELIABLE EARNINGS GROWTH AND THESE STOCKS ARE TRADING INVERSELY TO THE PRICE OF OIL AND I THINK THAT WILL STOP. WE WERE HAVING DEEP SEEK NVIDIA DURING THE DEEP SEEK AT $108 A SHARE VOLUNTEER AT 88. THAT WAS AN OPPORTUNITY AND GOT BORED TIME BUT THAT IS WHAT YOU HAVE TO DO IN THESE ENVIRONMENTS IF YOU BELIEVE THAT TECHNOLOGY IS GOOD AND WE DO. >> A COUPLE OF YEARS AGO YOU SAID YOU LOVE TECH, BUT TO HAVE A WIDE PORTFOLIO, BUT THE RIGHT NAMES AND YOU ARE OPTIMISTIC YOU LOOK AT THE FENCE AND TALK ABOUT IT A LOT THIS MOMORNING EVEN BEFORE THE LATEST HEADLINES. WHEN THE CONFLICT BEGAN, THESE NAMES CAME DOWN AND PEOPLE WERE SCRATCHING THEIR HEADS. THAT WAS THE OPPORTUNITY, YOU CAME ON THE SHOW AND TALK ABOUT IT, WOULD YOU STILL BUY HERE? >> THE BACKLOG IS INCREDIBLE. TO STOP LIKE BLACK BOX AND UTILIZING PRODUCTIVITY ENHANCED TECHNOLOGIES WHICH IS MOSTLY AI TO IMPROVE THE SPEED OF THE PIE CHAIN AND MANUFACTURING OUTPUT AND THAT'S WHAT'S EXCITING, PRODUCTIVITY SPREADING ACROSS SECTORS, HEALTHCARE, AND FINANCE INDUSTRIALS IN PARTICULAR SO I WOULD STILL ADD TO IT HERE IN A MINUTE TO GO, I WOULD ASK YOU ABOUT INVESTING IN GENERAL. YOU TALKED ABOUT IT ON PAPER, THIS CONCENTRATED PORTFOLIO AND A LOT OF PEOPLE WOULD BE SURPRISED TO LEARN WARREN BUFFETT NEVER OWNED A LOT OF STOCKS, HE JUST LEARNED A LOT OF CLAIMS HE LEFT IN CAP EXECUTING AND CAP HOLDING AND BUYING, WHAT YOU SAY PROVOKES TRYING TO OPT OUT ONE SECTOR TO THE NEXT HOT SECTOR THE NEXT DAY? >> WE'VE HAD CONCENTRATED PORTFOLIO SINCE EARLIER IN MY CAREER BASED ON PORTFOLIO MANAGEMENT ARTICLE THAT SASAID 2 IS THE OPTIMAL NUMBER SO WE DO HAVE STOCK PORTFOLIO BUT ALSO 25 TO 30 NAMES IN THESE STRATEGIES. RESEARCH IS OVERWHELMING A SMALL NUMBER OF NAMES, A NUMBER OF STUDIES I RECENTLY READ -- >> I LOVE HIS STUFF. >> WHAT HE SHOWED AS HE WENT BACK AND LOOKED 1926 ABOUT 4% OF THE NAMES WERE RESPONSIBLE FOR THE TOTAL RETURN OF THE MARKET AND ADD TO THAT ANOTHER STUDY THAT LOOKS AT PATIENT STRATEGIES AND STOCKS OWNED FOR MORE THAN TWO YEARS IN THE AS ANOTHER 2% ANNUALLY AND THAT'S WHAT WE DO, WE ARE LONG-TERM INVESTORS SO WE ARE NOT CHASING THE MOST RECENT WINNER BUT WE WILL BIDEN AND PARTICIPATE, WE ADDED IT EARLIER THIS YEAR AND IT FELT SUPER LATE AT $370 A SHARE. >> I WAS JUST GOING TO SAY IT'S INTERESTING, TALKING ABOUT THESE STUDIES, I THINK FIDELITY A FEW YEARS AGO STUDIED THEIR ACCOUNTS AND BY FAR, THE BEST ACCOUNTS WERE THE DEAD FOLKS BECAUSE THEY COULDN'T TRADE THE MARKET ACCOUNT. [LAUGHTER] AND BY THE WAY, TELL YOUR SON FOR THANK YOU FOR YOUR SERVICE AN