Recent News
Rate Hikes Coming Sooner Than Expected
December 17, 2021
Investors are just now pricing in an accelerated timetable for the Fed liftoff, and that’s dampening sentiment in equity markets.
Energy companies that could be good for investors
December 14, 2021
Andrew discusses the macro factors and fundamental tailwinds supporting energy stocks, and identifies companies we expect to be upside standouts.
This tax break can save ultra-wealthy clients millions
November 15, 2021
The qualified small business stock (QSBS) capital gain exclusion applies to any business, though it is especially relevant to high-net-worth investors associated with tech startups. Learn more about how the exclusion works and how to make the most of it.
Stock Picks: VSCO, SLB, OVV
November 10, 2021
Easing supply chain issues and a high savings rate give way to expectations for a robust U.S. consumer in 2022. In light of this, Andrew’s stock picks include Victoria’s Secret (VSCO), Schlumberger (SLB), and Ovintiv (OVV).
Opportunity zone funds are more about hype than substance when it comes to tax planning
October 27, 2021
Andrew discusses four red flags associated with investments in opportunity zones, concluding QOZ funds are more about hype than substance when it comes to tax planning.
Investing Strategies in the Current Market Environment
October 11, 2021
Among cyclical sectors which benefit from fading Covid concerns, Energy is set to take a leadership role. Andrew speaks about supply and demand dynamics, as well as why current positioning make energy names like OVV, RDS/A and SLB attractive.
Britney Spears’ Father is out as Conservator
September 30, 2021
JSC’s own Cannon Allen speaks with Barron’s about the fiduciary nature of a conservatorship, which contrasts with abusive practices sometimes seen.
Retiring Soon? Sold Your Home?
September 4, 2021
Reinvesting in dividend paying stocks is a good option for investors who seek the steady income of bonds, but currently find yields unattractive.
The Claman Countdown
September 3, 2021
Andrew discusses two companies with strong balance sheets, and significant upside potential. VSCO appears to be mispriced following its spin from L Brands, while BAM is still valued under an old capital allocation model that doesn’t account for positive changes to the company’s fundraising efforts.
Chemical Stocks to Watch
August 5, 2021
With bond yields currently reflecting late cycle dynamics, we look to the next few jobs reports for proof of a durable and sustainable cyclical recovery. An in-line/higher number on Friday will reinforce macro fundamentals which still point to early cycle dynamics, higher bond yields and cyclical equity sector outperformance—with OLN, LBV and LIN among the beneficiaries.
VIPs are Venturing Into Crypto, but Many Advisors Still Hesitate
July 21, 2021
Andrew Graham explains why Jackson Square Capital doesn’t have enough conviction in cryptocurrency to buy into the hype: 1) crypto doesn’t have enough of a track record to get a good understanding for things like correlation, and 2) it’s tough to value since it doesn’t produce cash flow. JSC does have exposure to blockchain-based digital payments platform, however, via investment in SBNY.
Britney Spears’ Father is out as Conservator
September 30, 2021
Cannon Allen speaks with Barron’s about the fiduciary role of a conservator.
How Investors Can Prepare for an Inflation Fallout
June 22, 2021
Prices have been climbing amid faster than expected reopening and recovery, low interest rates, and supply constraints. If inflation ends up being more than transitory, it likely spells the end of outsized gains in tech. An inflationary environment favors companies with exposure to hard assets, such as real estate and infrastructure. Other bright spots include energy, materials, mining and some regional banks.
Navigating Equity Compensation
June 18, 2021
There are unique challenges associated with managing a concentrated equity position, but ultimately we all face the same two ‘elephants in the room’ when it comes to money: and those are emotion and uncertainty. Having a plan that balances a client’s financial security with desire for upside, along with other goals is critical.
The Big Q: How are Advisors Adjusting to Post-Pandemic Conditions?
June 16, 2021
Andrew discusses Jackson Square Capital’s return to office.
Here’s Why Experts Say Buybacks Will Accelerate In 2021
May 21, 2021
Many companies cancelled stock buyback plans last year during the Covid lockdowns due to uncertainties, but now feel more comfortable about increasing shareholder returns via dividends and stock buybacks. Expect to see firms to enact buybacks as they grow optimistic about near-term prospects and as the economy continues to open up amid rapid vaccinations.
What Economic Data Is Telling Us About Inflation
May 11, 2021
Supply constraints build as a result of strong demand, with the US consumer not skipping a beat. Expect pricing pressures to be more acute and broad-based in the near-term as Fed policy prioritizes lingering labor market weakness. Higher inflation remains as a key identifiable risk for equity markets in Q3.
Utility Stocks Are Lagging, But Analysts Disagree If It’s A Buying Opportunity
May 4, 2021
Utility stocks are considered a ‘bond proxy’ due to their high dividend payout ratios. Utility stocks are struggling because bond yields are currently rising, but we may consider including Utilities in portfolios when our bond yield forecasts changes.
Sports Gambling Stocks May Soon Be on the Rise
May 4, 2021
74 million Americans have gained access to legal sports betting markets since 2019, with the potential for an even bigger boost as states look to capture sports-gambling-related taxes in the wake of pandemic-related fiscal challenges. Mobile betting and in-game wagering create additional momentum. Those with the greatest potential to benefit are sportsbooks, strong brands like Barstool Sports, and companies that have agreements to broadcast major professional sports.
Hard to Win This Game
April 9, 2021
BP to become first oil major to resume share buybacks, while competitors remain cautious. Andrew says buybacks may be important to the group now as investors prefer slower capital spending and better free cash flow generation.
The Outlook for Inflation in the Near-Term
March 31, 2021
The global growth story and bottleneck pressures have lifted core goods pricing to a 20 year high. As growth rotates to the service sector, we could see reflation emerge.
Find Market Opportunities as Tech Stocks Stumble
March 31, 2021
As the economy perks up, there’s the temptation to take the ‘value is everywhere approach.’ That won’t be the case. We look to cyclically sensitive stocks, focusing in particular on banks, and highlight opportunities to find unexpected value within tech.
Here are the stocks ready to rise thanks to new stimulus checks
March 15, 2021
Consumer confidence was already increasing prior to the latest round of stimulus. But, are the latest checks a tradable event? Hear from experts, including Andrew Graham, who expects incremental benefits to accrue to growth retailers.
Should Retirees Pay Off Their Mortgage or Invest the Money?
February 24, 2021
The Wall Street Journal outlines four steps you can take when answering this question in today’s low-rate environment. As mentioned in the article, Andrew Graham, CFA is generally in favor of keeping a mortgage of up to the tax-deductibility limit of $750,000. But, there are exceptions.
Who Will Pay Dividends This Year?
February 24, 2021
Dividend increases are expected from US companies whose earnings have been far more resilient than firms in the Eurozone and UK economies during the pandemic. Companies in the consumer staples, financials, energy, and technology sectors are most likely contenders.
Andrew Graham On Tech Sector Opportunities
February 19, 2021
Rising bond yields put downward pressure on earnings multiples across the board, and create risk for lower re-rating in richly valued software and technology companies. There are, however pockets of opportunity, including Verisign and GoDaddy.
Can Stocks Keep Rising Or Is A Correction Imminent?
February 17, 2021
Eight market experts predict the likelihood of a correction and identify sectors and stocks likely to be hurt in the downturn, and contrarily, which sectors would be buoyed further by a continued rally.
Financial reminder few athletes are Tom Brady
February 8, 2021
Investment and career dynamics for NFL players call for tailored investment strategies. Unlike other high-income earners, most professional NFL players’ earnings are concentrated within a short window of time. This makes income planning critical, and also informs investment selection. Time constraints, unique income tax implications and the speed at which earnings can accumulate all factor into the financial fitness of these top tier athletes.
M&A Activity in 2021
February 5, 2021
With rates low, companies will look to mergers as business catalysts. Financials are an obvious beneficiary and attractive on their own, although we’ve identified three potential acquisition targets in this space. In addition, keep an eye on health care and biotech sectors, especially companies on the brink of producing promising phase three data for headlines drugs.
The Impact of Further Stimulus Spending
January 19, 2021
The incoming Biden administration and Democrat–controlled Senate increases fiscal spending expectations, and adds conviction to our call for higher bond yields and curve steepening. As a result, we maintain our cyclical/value equity bias with an eye on deep-cyclicals. We share two of these names with Nicole Petallides.
Searching for growth stocks in 2021
December 14, 2020
There have been multiple short-lived rotations into value since 2009. None have lasted long, and it may be tempting to think the current rotation won’t have staying power either. Writing for US News, Andrew covers the events that contributed to eleven years of cyclical/value sector underperformance and makes the case why this time may be different. He also identifies three value stocks at fundamental inflection points
Andrew Graham on The Claman Countdown
November 24, 2020
Speaking with Liz Claman on Fox Business News, Andrew shares two value sector stocks and one growth stock with incredible upside potential. The two also briefly discuss Biden’s Treasury Secretary nominee, Janet Yellen.
Link coming soon.
What investors can expect once election 2020 is over
November 3, 2020
A Democrat ‘trifecta’ would probably lead to large-scale fiscal spending and rising bond yields, benefiting the financial sector. If Trump wins reelection, the GOP maintains its majority in the Senate and the House remains under Democratic control, investors are likely to forget about the prospect of higher tax rates and more business regulations, leading to immediate upside. However, overall markets prefer divided government.
Stocks that’ll gain off the iPhone 12
October 16, 2020
Andrew identifies Apple suppliers that could benefit the most from sales of the newly released 5G iPhone. He also cautions Reuters’ Fred Katayama on a group of stocks to avoid.
What’s the fallout from the Biden tax plan?
October 5, 2020
Biden tax plan to have negative implications for US businesses, especially those with foreign subsidiaries. Higher corporate tax rates would be a slight headwind for S&P 500 earnings. The outlook for individuals and families is more complicated, and we provide an overview of potential changes and actions to deal with implications.
Examining Recent Market Activity
September 24, 2020
We see 3600 as a possible year-end target for the S&P 500, with current pullback as a buying opportunity. FDX, TMO RNG are stocks to watch.
Where Investors can find value stocks
September 7, 2020
As economic data and vaccine optimism improve, expectations for tech companies are likely to rise and we are more likely to see tech names start to fall short of (already outsized) expectations. This domino effect could spur a rotation out of tech and into value cyclicals.
Massive Runway Left for Ring Central Stock
August 18, 2020
Andrew addresses how we add positions to accounts, and details two current favorites: RNG and VRNS.
Bloomberg Daybreak Australia: Some US Indicators Are Stalling
July 27, 2020
Speaking with Haidi Stroud-Watts, Andrew discusses the risk posed by US/China headlines and the current market impact of COVID-19.
Andrew Graham on Bloomberg Radio
July 26, 2020
Speaking with Doug Krizner and Paul Allen, Andrew discusses why US data momentum is the biggest driver for US equities, why the tech runup isn’t a bubble, and how gold fits into the current economic picture.
Top Upside and Market Risks This Election Year
July 24, 2020
The fallout from COVID combined with increased anxiety around the upcoming election has retail investors hoarding cash and steering clear of the markets, in what’s considered a bullish contrarian signal. Apart from the election, Andrew discusses a few possibilities and their potential impact on markets.
Markets are mispricing COVID-19 risk and November election risk
July 17, 2020
Andrew discusses the equity risk premium and why equities are inexpensive relative to bonds. And why recent strength in cyclical/value sectors is unlikely to lead to rotation out of growth.
A Pharma Pick With Catalysts
June 24, 2020
Tech names clearly benefit from COVID-19 disruption, specifically in a more rapid adoption of cloud computing. But in this segment we focus on Eli Lilly (LLY), our cleanest growth story in Pharma with a strong product pipeline and catalysts ahead.
In Stock Market Versus Sentiment, It’s All About Money Supply
June 8, 2020
The recent rally in equity markets has occurred despite weak overall economic activity and still bearish investor sentiment. The key factor is the rapid growth in money supply, which has created an unprecedented global liquidity boom to support markets in the face of extraordinary hurdles.
Fed has structurally altered liquidity environment for the forseeable future
May 21, 2020
Low bond yields drive equity market and our move to ‘sustainable dividend yield’ names. We expect short term consolidation followed by higher levels in the SPX H1 2021 and economic recovery to 2019 levels by late 2021.
Build Holdings in Defensive and Cyclical Industries
May 18, 2020
Find out which stocks are great options that can help you with steady dividends
Bloomberg Daybreak Australia: Oil Gains on OPEC Cuts
May 15, 2020
Speaking with Haidi Stroud-Watts on Bloomberg Daybreak Australia, Andrew discusses the outlook for oil prices and the potential for attractive investments in US Energy.
Investors prepare for more U.S. stock swings as states reopen
May 15, 2020
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise. Andrew mentions JSC’s focus on stocks he believes can maintain high dividend yields, especially within the pharmaceutical industry.
Andrew Graham’s Guidelines for Cyclical & Sector Rotation
April 28, 2020
Lower for longer bond yields make bond-like equities an eventual substitute for frustrated income investors. Companies with sustainable dividend yields fit the bill. Andrew mentions a few names in particular while speaking on TD Ameritrade Network.
How Stop-Loss Limits Help Active Investors
April 10, 2020
A strategy involving a loss limit rule may position you to maximize gains, limit more severe drawdowns during a bear market and drive tax-efficient investment returns.
Andrew Graham on the Closing Bell
March 25, 2020
Speaking on Fox Business News, Andrew shares some of JSC’s favorite software names and thoughts on Congress’ stimulus relief bill.
Media Inquiries
For media inquiries, please contact: PR@jacksonsquarecap.com
For JSC logos and assorted media: Download Media Kit (coming soon)
Jackson Square Capital is an SEC Registered Investment Advisory firm, founded in March 2019 when Andrew Graham and his team left J.P. Morgan in order to create a firm tailored to the High Net Worth Clients they’ve served for more than 35 years.
The San Francisco, California based firm offers investment management and wealth advisory services through a highly-personalized, client centric model designed to help clients achieve their individual financial goals.