Heading into the final stretch of 2024, D.A. Davidson director of wealth management research James Ragan joins Wealth! Host Brad Smith to discuss how investors should position their portfolios.

“We're telling investors to stay diversified. Stocks are not cheap in here. We're trading at pretty elevated valuations, but we do see better relative valuations across the spectrum. In an environment where the economy is still growing a little bit better than expected, we're getting decent earnings growth in the third quarter. We think that returns overall, the upside should be limited and we find better relative value in many of the sectors that are below kind of the high the technology and growth-centric names.”

He notes, “We still like exposure to [Big Tech growth] names. But we don't want to get too overvalued. So we would use strength, which we're not seeing today. We'd use strength to maybe trim positions a little bit and then reallocate. And we just see better relative value in some of the other stocks out there.”

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This post was written by Naomi Buchanan.