Heard on the Street: Which portfolio would you invest in, one that caters to millennials or baby boomers?
By Mike Bird Updated June 6, 2019 6:53 a.m. ET Which will do better: a portfolio of stocks geared to goods and products favored by baby boomers or by millennials? Photo: Photo Illustration by Emil Lendof/The Wall Street Journal; Photos: iStock The millennials have come of age, but the impact of that generation on the stock-market’s returns is only beginning.
The second portfolio was designed to capture the needs and desires of the wealthiest cohort, the baby boomers born between 1946 and 1964, who have entered or are entering retirement. While some chains have embraced such foodstuffs, Arby’s President Rob Lynchscoffed in an interview that “people aren’t willing to pay more for something that tastes worse.” That rupture may go some way to explain why Beyond Meat is now the most expensive U.S. stock to sell short. The matter of taste is subjective, but many investors are now betting that a younger and increasingly affluent generation will indeed pay up for something they regard to be more ethical or environmentally friendly.
Entertainment presents a stark division: As younger people embrace streaming companies such as Netflix , traditional TV networks like CBS are increasingly broadcasting to people in their 60s or older. The leisure preferences of the different generations are reflected by the portfolios. Recreational-vehicle manufacturers like Thor Industries and cruise lines including Royal Caribbean appear on the boomer list, while some that produce exercise equipment or benefit from increasingly available legal marijuana, such as Canopy Growth , appear in the millennial mix.
Both portfolios are equal-weighted to avoid domination by larger or more volatile names. Past performance means little since some in the millennial portfolio, such as Beyond Meat and Uber Technologies , have listed only recently.
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