March 25, 2024
Michael Landsberg, Landsberg Bennett Private Wealth Management CIO, joins CNBC ‘Squawk Box’ to discuss the latest market trends ahead of the opening bell on Monday.
Boeing CEO Dave Calhoun announced on “Squawk Box” his resignation at the year’s end, addressing the need for action and changes within the company to address supply chain issues. Michael Landsberg, CIO at Landsberg Bennett, commented that Boeing’s internal culture of carelessness, particularly evident in the last six to eight years, has led to poor internal management decisions.
He criticized the company’s practice of internal promotions, particularly referencing Calhoun’s role during the 737 MAX crisis. Landsberg believes Boeing needs an external leader to improve quality control and won’t consider investing in Boeing until such a change occurs.
He then discussed his positive outlook on other companies: Synopsis, O’Reilly Automotive, Axon, and a German defense manufacturer, highlighting their growth prospects and market positioning.
Takeaways:
•Boeing is undergoing leadership and organizational changes, emphasizing the need for improved management and operational adjustments.
•The company’s history of internal issues and the call for an external leadership change highlight concerns about its internal culture and management practices.
•Despite Boeing’s challenges, there are opportunities in other sectors, as Landsberg points out favorable investments in technology, automotive, law enforcement technology, and defense industries.
Landsberg Bennett is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC (member FINRA and SIPC). Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC.
This is not an offer to buy or sell securities, nor should anything contained herein be construed as a recommendation or advice of any kind. Consult with an appropriately credentialed professional before making any financial, investment, tax or legal decision. No investment process is free of risk, and there is no guarantee that any investment process or investment opportunities will be profitable or suitable for all investors. Past performance is neither indicative nor a guarantee of future results. You cannot invest directly in an index.
These materials were created for informational purposes only; the opinions and positions stated are those of the author(s) and are not necessarily the official opinion or position of Hightower Advisors, LLC or its affiliates (“Hightower”). Any examples used are for illustrative purposes only and based on generic assumptions. All data or other information referenced is from sources believed to be reliable but not independently verified. Information provided is as of the date referenced and is subject to change without notice. Hightower assumes no liability for any action made or taken in reliance on or relating in any way to this information. Hightower makes no representations or warranties, express or implied, as to the accuracy or completeness of the information, for statements or errors or omissions, or results obtained from the use of this information. References to any person, organization, or the inclusion of external hyperlinks does not constitute endorsement (or guarantee of accuracy or safety) by Hightower of any such person, organization or linked website or the information, products or services contained therein.
Click here for definitions of and disclosures specific to commonly used terms.