Fresh from his commute to the office in an autonomous vehicle, San Francisco-based Ian Sexsmith with Parnassus Investments, explains why mid-cap growth stocks may perform well in 2024 and trends that may impact his picks. In this brief chat with SmartBrief, Sexsmith discusses AI, debt loads, the Magnificent Seven’s run in 2023 and examples of stocks he’s watching now and why.
At Parnassus Investments, “we aren’t looking for one-hit wonders or highly cyclical stocks that shoot up and then crash back down. … We look for businesses with resilient revenue and durable growth,” Sexsmith said. He looks for best-in-class businesses when investors aren’t seeing the long-term opportunity or when the business cycle is against them.
Ian Sexsmith is the lead Portfolio Manager of the Parnassus Mid Cap Growth Fund and a Senior Research Analyst. Sexsmith has responsibility for portfolio management for the firm’s Mid Cap Growth strategy. He joined Parnassus Investments in 2011 after serving as a Parnassus research intern. His prior experience includes work at Scotiabank and TD Bank Financial Group in Toronto. Sexsmith received his bachelor’s of commerce degree from the University of Manitoba, Canada, and his master’s degree in business administration from the University of California, Berkeley. He holds the CFA designation and is a member of the CFA Society of San Francisco.
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