INVESTMENT COMMENTARY & Outlook
The first quarter stumbled out of the gate, but finished strong during March’s quarter-end window dressing. The big change in the Navellier portfolios is that we have added companies we believe will profit from inflation to our portfolios. Specifically, energy, fertilizer, food, and shipping companies are more prevalent in our portfolios. These companies have pricing power and are benefitting from the stagflation that has enveloped the world in the wake of Russia’s invasion of Ukraine, which has further disrupted commodity markets and global supply chains.
While Europe is slipping into a recession, the U.S. remains an oasis around the world. The U.S. manufacturing sector is benefitting from strong order backlogs, while the U.S. service sector remains very strong. The strength behind the U.S. economy remains the U.S. consumer, since consumer sentiment surged in March and consumer spending/credit growth remains strong. The recent rise in interest rates …