市场准备在适当的条件下“融化”- Westwood Holdings首席执行官

Westwood Holdings Group CEO Brian Casey believes the market is constructive and could potentially “melt up” if interest rates decline and companies continue to deliver strong earnings.

In an interview with CNBC, Casey explained that despite record market highs, his firm remains focused on high-quality companies with improving prospects that are mispriced.

Casey highlighted that approximately one-third of S&P 500 (SP500) holdings are currently trading below 14x earnings, creating “fertile ground” for finding investment opportunities.

“The market is priced for perfection. We have very high P/Es, but the quality of the earnings is really good,” Casey noted, adding that roughly 80% of companies beat consensus estimates in the previous quarter.

Westwood Holdings, which manages more than $18B in assets, is currently overweight in industrials (XLI), (IYJ), an area Casey sees significant value and growth potential. This strategic positioning aligns with the current administration’s onshoring movement, which Casey believes will drive manufacturing and construction booms, potentially beginning as early as the first quarter.

For the market to continue its upward trajectory, Casey emphasized two key requirements: “We’re going to have to see a path to lower interest rates. We’re going to have to continue to see high quality earnings.”

Meeting these conditions, he believes, could allow the current bull market to extend further.