Encouraging vaccine news has Wall Street searching for stocks to play the rebound—scouring the market for names that have been beaten up amid the pandemic but poised to boom once things return to normal.
Katie Koch, cohead of fundamental equity at Goldman Sachs Asset Management, is feeling bullish on trades that bank on a surge in pent-up demand among an increasingly powerful cohort of spenders: Millennials.
Koch calls them the “world’s most powerful consumer,” and believes the group will become “increasingly dominant” in the marketplace over the next 10 years. But these millennials aren’t all materially obsessed, she argues.
“This is a generation of people that value experiences over things,” Koch tells Fortune. Those experiences, namely concerts and travel, have been “off limits” this year, but she believes “not only is it going to go back to normal, it may actually supersede that for some period of time … Read More