June 30, 2023

Kingsview CIO Scott Martin on Fox Business Making Money with Charles Payne 6.30.23

Click here to listen to the full interview.

CHARLES PAYNE: Sorry to say, at Taco Bell, but move over because my next guest, well, he’s got a new favorite fast food pick. Take a look.

CHARLES PAYNE: I want to bring in Kingsview Wealth Management CIO Scott Martin. All right. So you’re going you’re going with the what is that grimace? They brought Grimace back the Hamburglar back. I think that’s why you’re going with it. That 70s nostalgia feel. You know, I think that you didn’t even look at any spreadsheets and look at the income statements or anything. You went strictly with the fact that they brought the old characters back.

SCOTT MARTIN: Characters? Charles My old memories, man. I mean, reinvention of the old school stuff and also grimace. We got a little bit of purple on today. Apparently it’s Grimace’s birthday in June at some point. My birthday, by the way, if anybody was counting, was on Wednesday. So maybe I have that in common with them. But also, Charles, just the fact, too, that McDonald’s came back to some pretty good valuations as far as at least looking at the chart as well. As far as some of that oversold nature that we saw in McDonald’s earlier this week, and therefore, we’re seeing a nice pop in the stock and glad we own it.

PAYNE: Anything else in that space that you like? You know, it’s interesting because this is one of these areas they say could be affected by today’s student loan ruling where the places like Chipotle. Right. That’s sort of an extravagance, particularly now you have to pay some of your bills. I mean, McDonald’s benefit from that as well.

MARTIN: I believe they will when the consumer trades down. Charles, I mean, when you made a joke about it before the break there about how much $28 gets you at Taco Bell and now McDonald’s, I mean, how much does $28 get you at Chipotle? My goodness, Is that place expensive? You get a bite or two of a burrito and then they send you home. But the reality is this. A lot of these fast food restaurants, at least these say casual, high end fast foods are probably still going to do okay. But I do look for that trade down, my friend, and say McDonald’s and also Domino’s Pizza is another one to to keep an eye on here as it’s pulled back and as it’s rallied again.

PAYNE: Yeah, DP’s one of the best performing stocks in the last ten years. It is a monster. When that thing gets going, it gets going. So I thought about you.

MARTIN: And their foods good.

PAYNE: Yeah, because I’m a New York pizza guy. At least I am until they outlawed them. But don’t get me started on that. I thought about you with this stress test because you kind of waded into the financials after the SVB debacle. No one failed. But I haven’t seen a spark per se. Are you still liking some of these financial names?

MARTIN: We are, Charles. We’re looking at, say, like fifth. Third. We’re still looking at Comerica. We bought the KB, which is the ETF of all the regional banks. If you just don’t want to wait into 1 or 2 and you’re right, it’s been a delayed reaction so far, a delayed bounce, but we’re starting to get it. It’s slow, but sure. And I think it’s one that’s going to come back pretty strong here, especially as the Fed steps out. But don’t forget, the banks situation has only gotten better behind the scenes. It maybe hasn’t gotten better with regards to the headlines, but that’s when, as an investor, to your point, you have to wade in and start dollar cost averaging here, which we’ve done on days when the banks pull back.

PAYNE: All right. All right, Scott, I’ll tell you what. All that fast food, you still look great, my man. Have a great weekend and a great.

MARTIN: Hang in there. See you, buddy. All right. Bye.

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