“The case for value is, irregardless of sector, you can find great, great opportunities,” this portfolio manager says.
A four-day winning streak for the S&P 500 SPX, -0.19% could be on the line Thursday, with some regrouping by investors after a hectic couple of weeks .
Murphy noted that the spread between valuation and growth stocks — at 12 basis points — has never been as wide as it is right now, even if there remains plenty of appetite for growth names. “You’ve got all these planes that Boeing is holding in inventory that they are getting ready to ship,” said Murphy, who expects China will recertify the 737 MAX sometime in the next six to nine months and also probably take Boeing’s 737 Dreamliner. “Somewhere out in the future you’ve got $50 billion in free cash flow. I think it’s going to be very interesting.”
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