View on the US stock markets and a pick by Matthew McLennan

Mr. McLennan manages the $89 billion global value team at First Eagle Investment Management, including the First Eagle Overseas (SGOV) and First Eagle Global (SGEN) funds. He succeeded a famous investor, Eveillard. In 1990s, when he ran value-oriented portfolio at Goldman Sachs, he did not wish to jump in tech bubbled market. In 2008, when Eveillard met McLennan first, that story got Eveillard’s attention (Green b, 2021, April 15).

Matthew McLennan sees warning sign mainly due to the US federal government money supply over the last year. When the US federal government reduce money supply from the current  25% to  10%. In addition,  he thinks that Bitcoin and SPAC are mistakenly viewed as growth stocks (Green a, 2021, April 15).

In terms of domestic companies, he sees Oracle as a growth company, in that Oracle launches a autonomous database, which will give more edges on its leading position at Enterprise Resource Planning (ERP). Oracle has transitioned its traditional software license business model to cloud service one (Green b, 2021, April 15).

Green, W. (2021, April 15 a). A Top Fund Manager Is Worried About Speculative Excess. 2 Stocks He’s Willing to Bet On,, retrieved from:

Green, W. (2021, April 15 b). How Growing Up With No Hot Water Shaped One of the World’s Greatest Investors,, retrieved from: