Stan Wong’s Market Safari: Kangaroo Speed Through Bull and Bear Territory
From iPhones to airline tickets—why Stan Wong is betting on Apple, Expedia, and diversified ETFs to weather the market storm.
Editorial Team (ET)May 21, 2025
As markets teeter in the wake of mounting geopolitical unrest and fresh tariff announcements out of Washington, investors are left sorting signal from noise. For Stan Wong, portfolio manager at Scotia Wealth Management, the message is clear: don’t panic, but rather prepare. Amid the market’s latest mood swings, Wong remains steadfast in his strategy—rooted in fundamentals, bolstered by experience, and focused on opportunities hidden in plain sight.
Market watchers have been glued to the CBOE Volatility Index, which has surged in recent days, underscoring growing investor fear. The Fear & Greed Index, another barometer of sentiment, has plunged into “extreme fear” territory. While unnerving, Wong sees these readings not as warnings to retreat, but as potential contrarian buy signals. He draws on historical precedent to reinforce his thesis: the 2008 financial collapse, the 2018 trade war pullback, and the COVID-19 shock in 2020 all proved that disciplined, long-term investors were ultimately rewarded for their resolve.
The Long View on Short-Term Chaos
Wong’s outlook hinges on a belief that equity markets, though facing near-term choppiness, remain fundamentally resilient. He acknowledges the current volatility but views it as a healthy reset, not a breakdown. With U.S. midterm elections looming and economic levers like tax reform and deregulation still on the table, political catalysts may yet tip the scale toward recovery.
Despite headline risks, Wong is not retreating to cash or safe havens. He is reallocating with precision, leaning into high-quality names and diversified exposure that can weather short-term headwinds and still grow. His focus: North American large caps and exchange-traded funds that balance risk and reward in a shifting environment.
Apple: A Titan Tested, Not Toppled
Few companies are as polarizing as Apple during a correction. The tech giant has seen its shares fall as much as 33 percent from previous highs, rattled by tariff concerns and weakening hardware sales. But Wong sees this as a classic overreaction. Apple's global brand power, massive cash reserves, and booming services segment make it more than just a gadget maker—it’s a global ecosystem.
Fiscal 2025 revenue is expected to exceed US$408 billion. Even as the hardware cycle softens, Apple’s services—from iCloud to Apple Music—offer stable, high-margin revenue. Meanwhile, the company's expansion into AI, wearables, and health tech suggests it is far from done innovating. Wong also notes that Apple is adapting its supply chain strategy by shifting some production away from China—smart insulation against future geopolitical shocks.
From a technical perspective, the stock hovering near its 200-week moving average presents what Wong calls a “compelling medium- and long-term entry point.” With a 15 percent earnings growth forecast and a strong capital return program, Apple remains, in Wong’s view, one of the most attractive tech plays in today’s market.
Expedia: Booking Profits Amid the Travel Boom
In a world where experiences are increasingly valued over possessions, Expedia Group is thriving. With flagship brands like Hotels.com, Vrbo, and Hotwire, the travel giant is riding the tailwinds of a post-pandemic booking boom. Wong points out that Expedia’s fiscal 2025 revenue is projected to hit US$14.4 billion—a testament to resilient consumer demand and strategic platform upgrades.
Even as shares fell nearly 37 percent from recent highs, Wong sees strength beneath the surface. The stock has returned to long-term technical support near its 200-week moving average, offering what he views as a base for recovery.
Expedia’s recent earnings exceeded expectations, bolstered by smart cost controls and digital investment. Wong believes these are not short-lived wins but signs of structural strength. With projected earnings growth approaching 20 percent and a steady cash flow engine, Expedia is, according to Wong, well-equipped to capitalize on a sustained global travel rebound.
Invesco S&P 500 Equal Weight ETF: A Balanced Approach in an Unbalanced Market
While mega-cap tech continues to dominate headlines and index performance, Wong is steering clients toward broader exposure. His preferred vehicle: the Invesco S&P 500 Equal Weight Index ETF (EQL). Unlike traditional market-cap weighted ETFs, EQL assigns equal weight to every S&P 500 constituent, giving investors a more balanced slice of the American economy.
This strategy, Wong argues, mitigates concentration risk and ensures sector diversification. In today’s shifting leadership—where cyclicals, financials, and industrials are rising to challenge tech’s throne—such balance is invaluable. The ETF is currently down over 17 percent from previous highs, also testing the 200-week support level, which Wong views as a technical foundation for potential upside.
EQL’s low management expense ratio of 26 basis points adds to its appeal. For investors tired of chasing market darlings or worried about sector bubbles, Wong believes EQL offers a disciplined and cost-effective solution that’s built to endure.
Weathering the Storm with Strategy
Wong’s current approach is far from passive. He is actively repositioning portfolios, seizing on dislocations that could offer future upside. Volatility is not a deterrent, but an invitation to buy strong companies at a discount. His top picks—Apple, Expedia, and the Invesco S&P 500 Equal Weight ETF—share a common thread: robust fundamentals, attractive technical setups, and long-term growth narratives.
Wong emphasizes that while the market’s short-term trajectory remains uncertain, investors must resist the urge to time every tick. “The goal isn’t to avoid the storm,” he says, “it’s to build a boat that can sail through it.”
As fear gauges spike and media headlines amplify anxiety, Stan Wong stands firm. His strategy is not only about picking the right stocks but maintaining the right mindset. In a world obsessed with the next trade, he’s betting on timeless principles—and for those who follow his lead, the next chapter could be a profitable one.
