Inside Gordon Reid's Top Investment Choices for June 2024

Navigating Market Uncertainties with Strategic Picks

Editorial Team (ET)May 29, 2025

Who exactly is Gordon Reid, and why should you care about his stock picks? Gordon Reid is the president and CEO of Goodreid Investment Counsel, a firm renowned for its astute investment strategies and market insights. His top picks and market outlook are highly anticipated by investors keen on making informed decisions. Today, we're diving into Reid's latest insights and top stock recommendations as of June 11, 2024.

Market Outlook

The U.S. economy is starting to show signs of fatigue. This shouldn't come as a shock, considering the relentless efforts of the U.S. Federal Reserve to control inflation. However, some might find it surprising given the robust growth observed in employment statistics and corporate earnings. So, what's really happening?

The term "economic landing" is thrown around a lot these days. Essentially, it's about whether the Fed can slow down the economy just enough to curb inflation without causing a recession – a so-called "soft" landing. Historically, the odds aren't in their favor; they usually overshoot and drive the economy into a slump.

Here's the big question: Does the Fed deploy the parachutes by cutting interest rates, or do they remain stubborn to hit that elusive 2% inflation target? With the Bank of Canada and the ECB already hinting at initial rate cuts, the Fed might feel some pressure. This is a critical juncture with numerous moving parts, from bifurcating employment statistics to the looming presidential elections.

Investment Strategy

Goodreid is adjusting its sails in this uncertain economic climate. They're lightening up on consumer discretionary stocks – those that rely heavily on consumer spending – and are instead adding positions that have catalysts independent of monetary policy.

So, where is Goodreid putting its money? They're eyeing industrials and selectively adding to their technology holdings. These sectors, they believe, have strong potential regardless of the broader economic winds.

Gordon Reid's Top Picks

Amgen (AMGN NASD)

Latest Purchase: June 2024 at $303

Why Amgen?

Amgen is again being recognized as a growth stock within the Healthcare sector. Their recent purchase of Horizon Therapeutics for $28 billion has added a host of promising new drugs to their pipeline. Of particular interest are the early trial results of their weight loss drugs, which could significantly contribute to future growth.

First Solar (FSLR NASD)

Latest Purchase: May 2024 at $279

Why First Solar?

First Solar stands out as the only significant domestic producer of solar energy. Their success is bolstered by tariffs and tax incentives, making them a prime player in the renewable energy sector. With the anticipated massive demand from AI data centers, First Solar is poised for steep revenue and EPS ramp-ups.

CrowdStrike (CRWD NASD)

Latest Purchase: June 2024 at $356

Why CrowdStrike?

CrowdStrike is a powerhouse in cybersecurity, with the street projecting a 24% annual revenue growth over the next decade. Their margin expansion and free cash flow growth make them a highly attractive investment. As cloud computing and AI continue to expand, so does the need for robust cybersecurity solutions. Their Falcon AI product alone has surpassed a run rate of $1 billion per year, a testament to their market strength.

Detailed Analysis of Top Picks

Amgen (AMGN NASD)

Amgen's acquisition of Horizon Therapeutics isn't just a headline; it's a strategic move that opens up new avenues for growth. Horizon's diverse portfolio of drugs, especially in early-stage trials, adds significant value to Amgen's pipeline. Investors are particularly excited about the potential of weight loss drugs, which could become a major revenue stream in the coming years. Analysts have been bullish, pointing to Amgen's strong fundamentals and innovative approach.

First Solar (FSLR NASD)

First Solar's unique position as the primary domestic solar energy producer gives it a competitive edge, especially with the support of tariffs and tax incentives. These financial benefits are not just temporary boosts but entrenched advantages that enhance their long-term growth prospects. The surge in demand from AI data centers is expected to drive their revenue and earnings per share (EPS) to new heights, making First Solar a smart bet for future returns.

CrowdStrike (CRWD NASD)

CrowdStrike's impressive revenue growth and margin expansion are supported by their innovative Falcon AI product, which has reached a run rate of $1 billion per year. This success highlights their dominance in the cybersecurity market, particularly as the demand for cloud and AI security continues to rise. Their business model, with 94% of revenue coming from subscriptions, ensures a steady and growing stream of income. The company's asset-light approach further enhances its attractiveness to investors.

Conclusion

In summary, Gordon Reid's strategic shift away from consumer discretionary stocks towards sectors with independent growth catalysts reflects a prudent and forward-thinking investment approach. His top picks – Amgen, First Solar, and CrowdStrike – are well-positioned to thrive in their respective industries, driven by strong fundamentals and significant growth prospects. As we navigate the complexities of the current economic landscape, diversification and careful selection of growth-oriented stocks remain key to successful investing.

Bloomberg

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