December 6, 2023

Kingsview CIO Scott Martin On Fox Business Making Money with Charles Payne 12.6.2023 

Click here to listen to the full interview.

CHARLES PAYNE: Alright, let’s bring in a guy who seems to always beat the market—Kingsview Wealth Management’s Chief Investment Officer, Scott Martin. Scott?

SCOTT MARTIN: And a market cheerleader, Charles, because we like to see people do well. An investment should go up over time as they do.

CHARLES PAYNE: Let’s go back to this.

MARTIN: Unbelievable.

PAYNE: How do you explain this?

MARTIN: I don’t know. I mean, JP Morgan, Jamie Dimon and Company, maybe they just didn’t carry a one or two. I don’t understand how you get from 4,200 all the way to 5,500. That’s a massive divergence in, I guess, skill and process there. But I think your point is right. Some of these may be more specialized shops or things that are thinking about different alternatives. Therefore, if you’re in an index fund, obviously dropping to 4,200 or thereabouts, you’re not going to have a great time in the market.

PAYNE: Stock market—we’re bears all year long now. Mike Wilson won Strategies of the year again, even though he’s completely off. So, I’m not sure what the criteria is.

MARTIN: Was anybody else up for that category?

PAYNE: I know you weren’t. If you were, you would have won.

MARTIN: I would’ve. And 4,500 still seems like that’s too high for even Mike Wilson’s standards, Charles.

PAYNE: Checking out Capital Economics, even 5,100 to me, our friend—

MARTIN: Brian Belsky.

PAYNE: Yeah, Belsky.

MARTIN: Great guy.

PAYNE: I will say Ed Yardeni. Yardeni’s at 5,400. Ed Yardeni’s probably right now the hottest guy in my mind on the street, agreed with the broad calls. I just don’t get this. So you think, where do you think, where are you right now, your guesstimate for where we could and let you—

MARTIN: I don’t want to touch the telestrator, but if we could, I’d like to shake it and shake it up and see if we can throw up the numbers in the air. Because I’m thinking, man, higher than even 5,500, I think around 5,500 sounds about right because we still have enough bears out here, and when the market goes down, Charles, as you and I know, the bears come out of the woods. But for right now, when the market’s going up and we’re getting stabilization, at least on rates, and the Fed’s speak, oh my God, the bears are gone. Where were they all along? And now, now they’re going to come back when the markets come down. So that pushes up—

PAYNE: I believe you’re contrarian to the experts. When the experts are bearish, you say give bullet.

MARTIN: And kind of contrarian to sentiment too, Charles. When everybody starts telling me or telling you or telling even when my mom calls me and says, “Hey, I’ve got an extra couple hundred bucks, what should I buy?” I’m like, “Mom, the market’s probably going to go down, thanks to you.” But if those calls aren’t happening and you’ve got to really pry that money out of people’s vice grips, you know what I mean, to get it invested, that’s usually a good time when markets actually tend to do very well.

PAYNE: Let’s talk about a couple of names we’re buying right now, Merck and Costco. Tell us the rationale behind these.

MARTIN: Yeah, so two good things. I mean, Merck has got the kind of pharmaceutical boosts that’s been going on with Lilly. A very, very good cashflow-positive company, some great developing drugs system.

PAYNE: Sounds like you don’t have the fat loss drug. You’re out of the mix.

MARTIN: Well, sort of. But see, that’s the thing. And we think this fat loss drug is going to be awesome. Merck’s got a couple of things in the pipeline there. I think it’d be very interesting. Not just the fat loss drugs, there are other drugs out there, ladies and gentlemen, that are going to help people. And Costco, my man, just said, a personal best of food-only purchases at Costco, $1,275 without tax internet. And Costco is one where if you go to Costco, it’s a great grocery store and has—

PAYNE: You just spent 1200 bucks at Costco on—

MARTIN: Me and the family and things like that.

PAYNE: Probably three-quarters of the food, though, from your Taco Bell bill. That’s only like 10 days worth of food for you.

MARTIN: Exactly. And those are things too that I would still go eat at Taco Bell. I mix ’em together. I’m not forgetting about Taco Bell but adding some of the Costco food stuffs as well. And Costco’s always crowded, man, and has some great things besides food.

PAYNE: When Sam Walton was alive, he said the only company he could never beat was Costco. Costco is—

MARTIN: Still can’t.

PAYNE: If it’s in your portfolio, you never really want to sell.

MARTIN: Still cannot.

PAYNE: See you, man. I’ll—

MARTIN: See you there.

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