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carl-delfeld

Carl Delfeld

Chief Analyst, Cabot Explorer

Carl Delfeld is a member of the Cabot investment team, and chief analyst of Cabot Explorer.

He received his Masters in Law and Diplomacy at the Tufts Fletcher School; worked for the First National Bank of Boston (now Bank of America) in London, serving as director of the Japan and South Korea Group; served as vice president at the investment bank Robert W. Baird & Company, developing new business in Tokyo, Hong Kong and Sydney; was Asia advisor to the U.S. Congressional Joint Economic Committee, the U.S. Finance Committee and the U.S. Department of the Treasury; wrote for Forbes Asia and the Far Eastern Economic Review; served as a member on the U.S. National Committee on Pacific Economic Cooperation and the Japan-U.S. Friendship Commission; was chairman of the Asian Pension Forum and wrote a book, titled, Red, White & Bold; the New American Century.

From this author
Warren Buffett became the world’s greatest investor by finding undervalued stocks. These three big oil stocks look right up his alley.
This week, markets took slower economic growth numbers to mean no more interest rate hikes and higher stocks. That’s the logic of Wall Street today.

Laszlo Birinyi (pronounced BUH-ree-nee), an investor who “listened” to the market rather than corporate or financial news, passed away this week. He was someone who thought differently. His theory about the flow of money that made him one of the nation’s foremost stock pickers in the 1990s will endure.
Many U.S. investors see electric vehicle (EV) trends locally, but the truth is it’s a global phenomena and there’s a lot of value to be found overseas.
Beginning on a positive note, I’d like to remind you of the power of compounding returns when you stay in the stock market over time. For example, $100 invested in three-month Treasury bills in 1928 grew to only $2,141 by the end of last year while it became $46,379 invested in medium-grade corporate bonds and a stunning $624,534 if invested in a broad basket of stocks, according to data from New York University finance professor Aswath Damodaran.

China’s continued economic woes took center stage globally this week, as the country’s central bank unexpectedly cut key interest rates in a bid to spur economic growth, manage high debt in the property sector, and lower its 20% youth unemployment rate. An index of Chinese stocks traded in Hong Kong has fallen more than 9% this month.
Investing in Malaysia and Singapore offers exposure to the growing ASEAN region and strong demographic and economic trends. These stocks and ETFs are the best way to do it.
New technologies are making nuclear energy much safer and more efficient than before. And nuclear stocks are benefitting.
This is a short week as we begin the second half of 2023 with inflation down, recession fears fading, and the animal spirits of investors alive and well.

In the first half of 2023, market performance was positive and narrow, largely driven by the big tech names, and especially artificial intelligence (AI) related stocks. The Dow was up 3.8%, the S&P 500 gained 15.9%, and the tech-heavy Nasdaq was up 31.7%. We will continue to explore the world for the best value and growth stocks providing both conservative and aggressive ideas. EVs across the supply chain, resources, and emerging markets remain the focus but we have the flexibility to change course as opportunities arise.
Now the most populous country on the planet, India’s growing economy is attracting global investment as companies diversify manufacturing away from China. Here are 3 stocks I like to increase your exposure to India.
EV mania has been supplanted by AI mania, but industry fundamentals are still strong and the electric vehicle ecosystem is still growing. Is that enough to make this Chinese electric vehicle company a buy?
This is a short week as we begin the second half of 2023 with inflation down, recession fears fading, and the animal spirits of investors alive and well.

In the first half of 2023, market performance was positive and narrow, largely driven by the big tech names, and especially artificial intelligence (AI) related stocks. The Dow was up 3.8%, the S&P 500 gained 15.9%, and the tech-heavy Nasdaq was up 31.7%. We will continue to explore the world for the best value and growth stocks providing both conservative and aggressive ideas. EVs across the supply chain, resources, and emerging markets remain the focus but we have the flexibility to change course as opportunities arise.
China is a supply chain superpower - a key advantage for China and a vulnerability for America. These 3 stocks should profit if the U.S. can shift the balance.
This is a short week as we begin the second half of 2023 with inflation down, recession fears fading, and the animal spirits of investors alive and well.

In the first half of 2023, market performance was positive and narrow, largely driven by the big tech names, and especially artificial intelligence (AI) related stocks. The Dow was up 3.8%, the S&P 500 gained 15.9%, and the tech-heavy Nasdaq was up 31.7%. We will continue to explore the world for the best value and growth stocks providing both conservative and aggressive ideas. EVs across the supply chain, resources, and emerging markets remain the focus but we have the flexibility to change course as opportunities arise.
Despite having surpassed it in size, India’s economic growth has lagged China for decades. These 3 stocks offer “catch-up” growth by investing in India.
As developed economies like Europe stagnate under demographic overhangs, international investors are well-served looking towards a new group of young, dynamic Southeast Asian countries.
Fed Chairman Jerome Powell again threw a wrench into the market by warning that a couple of more interest rates hikes are probable this year. “The process of getting inflation down to 2% has a long way to go,” he told the House Financial Services Committee during a three-hour hearing. Not sure why they don’t get this over with.

Indian Prime Minister Narendra Modi arrives in America on his first official state visit with India’s geopolitical pull higher than at any point since he took power in 2014.
Nio’s (NIO) stock is down 90% from its all-time high, does the current valuation make it a compelling buy for forward-looking investors?
Explorer stocks gained or held their ground this week as the so-called “Mega-Cap 8” stocks dominate a narrow market for now.

China has become the 20% market – 20% of world GDP and 20% of multinational total revenue. This explains the steady stream of CEOs to China while Washington and Beijing top officials traded insults at a Singapore defense forum.
The rising ASEAN Economic Community represents a major opportunity in Southeast Asia ... if the U.S. and investors play their cards right.
The Explorer had a good week with Butterfly (BFLY) up 15% and Solid Power (SLDP) up 10% this week. The S&P 500 has risen 8% in 2023 but the market gains are very narrow and concentrated, with the top five stocks accounting for most of the gains.
Consumer prices in April showed inflation pressures remain high but backed off a bit. The consumer price index came in at 4.9%, slightly less than the 5% from March. Not a big deal but a step in the right direction as the below graph highlights.

Electric vehicle (EV) prices and profits are also going down for the most part. Tesla reported $2.5 billion of profits in the first quarter, down from $3.7 billion in the last three months of last year, and $3.3 billion in the first quarter of 2022.
This week tech stocks looked better while First Republic Bank continues to struggle to gain its footing. It was a relatively quiet week for Explorer stocks as movement up or down was minimal. However, the news on the global electric vehicle (EV) race is coming fast and furious.
The push to invest in automation has led to economic anxiety in the U.S., but this robotics company knows the value of pairing robots with human workers.
It can pay to pay attention to what investment legends are doing to cope in these turbulent times.

Warren Buffett still has a knack for seeking value and a history of going to Japan to find it in times of volatility. Overall, Japan’s Topix index trades at 13.3 times expected earnings, according to S&P Global Market Intelligence. That compares with 18.9 times for the S&P 500.
BYD (BYDDY) reported great earnings, and Novo Nordisk (NVO) got a lift from the World Health organization this past week – but the big news is that Alibaba (BABA) surprised markets by announcing on Tuesday a plan to split the $220 billion goliath into six standalone units.
This was a week to remember. The Explorer does not have any financial stocks, thankfully, though a couple of our small-cap ideas did not have a good week. Federal deposit insurance was introduced 90 years ago during the Great Depression. Ever since then, small depositors within the FDIC limit of coverage have escaped the fear of a bank failure.
Yesterday was Tesla’s annual investor day and it seems it came up a bit short regarding specifics.

Elon Musk started with a big number even by Washington standards, suggesting that realizing the vision for an energy transition could require some $7 trillion of investments in electric-vehicle manufacturing.
Want a hedge against volatility and ongoing inflation? Try these two timber investments, which capitalize on an evergreen industry.
Retail sales rose 3% in January, the Census Bureau said yesterday, reversing November and December’s declines. Manufacturing output increased by 1%, following a steep 1.8% decline in December. Positive but slow growth right now might be just what we need to avoid more interest rate increases by the Fed.
The rise of financial technology has been a positive theme of late. With that in mind, these five fintech ETFs are worth your consideration.
It is only a month into 2023 but playing safe has not paid off as the Nasdaq 100 (QQQ) is the best-performing U.S. index ETF with a gain of 10.6% thus far. The small-cap Russell 2,000 (IWM) is next, up 9.8%. The Dow Jones 30 (DIA) – which fared the best in 2022 – is up only 2.95%.