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Home » News » Paul Harris’ Playbook for Navigating Global Markets in November

Paul Harris’ Playbook for Navigating Global Markets in November

Paul Harris reveals his top picks to navigate global market shifts and deliver long-term investment value.

Editorial Team (ET)July 1, 2025



Paul Harris, a partner and portfolio manager at Harris Douglas Asset Management, has unveiled his latest market insights and top stock picks, focusing on North American and global equities. With an emphasis on robust fundamentals, secular growth opportunities, and strong market positioning, Harris shares his take on Alphabet, Novo Nordisk, and MSCI as standout investment opportunities.

Market Outlook: Central Banks Signal a Shift

Central banks worldwide are shifting gears, with an easing cycle taking shape. In the United States, the Federal Reserve is anticipated to cut interest rates by 25 basis points in December. However, future reductions remain uncertain, given the policy implications of the new administration’s stance on immigration and tariffs.

North of the border, the economic climate is notably weaker. Harris predicts more aggressive rate cuts from the Bank of Canada compared to the Federal Reserve, leading to a softer Canadian dollar. These dynamics will shape investment strategies over the coming months, presenting both challenges and opportunities for North American investors.

Top Picks: Harris’ Investment Favorites

1. Alphabet (GOOG NASD)

The Digital Advertising Powerhouse

Alphabet, the parent company of Google, continues to dominate the digital advertising landscape. With a 30% share of U.S. digital ad revenue and an expected $69 billion in free cash flow for 2024, the company boasts unmatched financial strength.

Why Harris Likes Alphabet:

  • Undervalued Growth: Trading at 20 times earnings, Alphabet is priced below market valuation.
  • YouTube Monetization: Revenue growth from YouTube advertising remains a significant driver.
  • Secular Trends: Alphabet benefits from the increasing shift to digital advertising, which accounts for over 50% of global ad spend.

Alphabet is positioned to capitalize on the $400 billion global ad market, making it a cornerstone investment for long-term growth.

2. Novo Nordisk (NVO NYSE)

Revolutionizing Healthcare with Blockbuster Drugs Danish pharmaceutical giant Novo Nordisk has carved a niche in diabetes and obesity care. Its blockbuster drugs, Ozempic and Wegovy, are reshaping the landscape of chronic disease treatment.

What Makes Novo Nordisk a Top Pick:

  • Explosive Growth: Revenue from Ozempic and Wegovy is projected to rise from $26 billion in 2024 to $41 billion next year.
  • Health Innovations: Emerging research highlights these drugs’ potential to address heart disease, stroke, and sleep apnea.
  • Global Leadership: Majority-owned by Novo Holdings, the company is positioned for sustained innovation and market dominance.

With double-digit earnings and revenue growth expected, Novo Nordisk remains a leader in addressing some of the most pressing health challenges globally.

3. MSCI (MSCI NYSE)

The Backbone of Investment Analytics

MSCI provides indispensable tools for the investment community, from indices to analytics and ESG solutions. Its comprehensive suite of services supports critical functions like portfolio construction, benchmarking, and risk management.

Why Harris Recommends MSCI:

  • Market Oligopoly: As a near-monopoly in investment data analytics, MSCI enjoys unparalleled pricing power.
  • Strong Margins: Gross margins of 82% and operating margins of 53% underline its efficiency.
  • ESG and Climate Leadership: With the rise of sustainable investing, MSCI’s ESG offerings are increasingly essential.

For investors seeking exposure to the infrastructure of modern finance, MSCI is a compelling choice.

Key Takeaways for Investors

Paul Harris emphasizes the importance of aligning investment strategies with evolving market conditions. Alphabet, Novo Nordisk, and MSCI represent high-quality opportunities that combine growth potential, financial resilience, and strategic positioning in their respective sectors.

With central bank policies and global economic shifts in play, these picks are designed to navigate uncertainty while delivering long-term value.

Conclusion

Paul Harris’ top picks highlight his expertise in identifying companies with strong fundamentals and promising growth trajectories. Alphabet’s dominance in digital advertising, Novo Nordisk’s groundbreaking healthcare solutions, and MSCI’s pivotal role in investment analytics underscore the importance of strategic allocation in a dynamic market environment. For investors, these selections offer a blend of stability and innovation, making them well-suited for navigating today’s complex financial landscape.






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