19 February Watchlist đź‘€

 

Today we are watching…

1. Legg Mason (#legmsn)

The best long-term investment plan is the one with the cheapest fee structure. Passive stock index trackers are becoming oversubscribed as people catch on to this fact, and actively managed funds run by large asset managers like Legg Mason and Franklin Templeton, are being shunned. This paradigm shift is threatening Franklegg’s combined 194-year history, so they’ve decided to merge. Together, Franklin Legg will have the economies of scale to compete with giants like BlackRock and Vanguard. They’ll be able to offer the public lower management fees on the investments they hold for clients, making up for it in client volume. Shares in both companies rose on the news!

2. Apple (#aapl)

China is Apple’s home from home, iPhone demand from the country’s massive emerging middle class keeping investor sentiment propped up. The company tipped off shareholders yesterday about a possible dip in sales due to the coronavirus outbreak, with disruption to hardware production and supply chains also expected. The “factory of the world” is indeed closed, and if Apple’s in trouble, so must be other China-exposed consumer discretionary brands and tech suppliers. This announcement spooked analysts who estimate the demand for smartphones being cut in half by the virus in this first quarter, and gross domestic product growth slipping beyond the previous consensus as well.

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