Stan Wong’s November 2024 Top Picks: Stocks Set for Growth

Navigating Market Opportunities with Stan Wong's November 2024 Top Picks for a Balanced Investment Strategy

Editorial Team (ET)May 17, 2025

As an influential portfolio manager at Scotia Wealth Management, Stan Wong specializes in North American large-cap stocks and Exchange-Traded Funds (ETFs). His strategic approach focuses on robust sectors such as technology, healthcare, and consumer discretionary, placing a premium on steady, high-growth investments. Wong’s picks for November 7, 2024, reflect this philosophy, favoring companies with strong fundamentals and favorable market positioning. Today’s top choices, including Caterpillar, Netflix, and the iShares Core S&P Mid-Cap ETF (IJH), underscore his optimism for North American markets amid economic resilience and evolving market trends.

Market Outlook: A Promising Landscape for Equities

The U.S. economy remains resilient, evidenced by the 2.7% GDP growth in Q3 of 2024, primarily driven by consumer spending. This stable economic foundation, coupled with a declining inflation rate of 2.4%, enhances the potential for equities to perform well over the coming months.

The November through January period has historically been the strongest for the S&P 500 Index, with average gains of 4.4% since 1950. This seasonality supports Wong’s positive outlook as markets transition from a volatile October to a historically favorable period.

With the U.S. Federal Reserve shifting towards monetary easing, there’s a supportive backdrop for equities. Lower interest rates provide an ideal environment for companies to access cheaper capital, a potential catalyst for sustained market growth.

Investment Themes in Focus

Wong remains focused on North American large caps that demonstrate stability and potential for long-term growth. His selection emphasizes companies with high market valuations and reliable earnings.

The iShares Core S&P Mid-Cap ETF (IJH) provides diversified exposure to mid-sized companies that offer higher earnings growth potential compared to large caps. Wong sees this ETF as a valuable addition for investors looking for balanced growth and risk.

Top Picks Overview

Caterpillar Inc. (CAT NYSE)

Caterpillar, with its extensive portfolio of construction and mining machinery, operates in over 190 countries. Wong highlights Caterpillar as a strategic investment with strong growth prospects, especially with increased infrastructure spending on the horizon.

With a new Republican administration likely to boost domestic infrastructure, Caterpillar is well-positioned to benefit. Additionally, potential corporate tax cuts and favorable trade policies create a conducive environment for CAT to thrive.

Caterpillar’s stock price has shown a clear uptrend since late 2022, marking higher highs and lows. This bullish pattern is a signal of sustained investor confidence, backed by strong earnings and a resilient business model.

Investors should keep an eye on February 2, when Caterpillar will release its next quarterly results. Positive earnings could further solidify its position as a top investment.

Netflix Inc. (NFLX NASD)

With over 280 million global subscribers, Netflix is the undeniable leader in streaming. Wong views Netflix as a growth powerhouse, supported by consistent revenue growth and strategic investments in original content.

Netflix’s expansion into emerging markets presents an opportunity to capture new audiences. Recent deals for sports broadcasting rights, including partnerships with the NFL and WWE, underscore its ambition to diversify and secure long-term growth.

Despite its high growth rate, Netflix’s price-to-earnings growth (PEG) ratio remains attractive, especially compared to other tech giants. This affordability makes it an appealing option in the tech and communications sector.

Netflix projects an annual earnings growth rate of over 35% for the coming years. The company’s next quarterly report on January 23 will be an important date for investors tracking its continued success.

iShares Core S&P Mid-Cap ETF (IJH NYSEARCA)

The iShares Core S&P Mid-Cap ETF provides access to approximately 400 U.S. mid-cap companies, spanning various sectors. This ETF offers a unique opportunity to diversify within mid-cap stocks.

Mid-cap stocks currently trade at a valuation discount compared to large-cap counterparts, with a P/E multiple of 18x versus the S&P 500’s 25x. Despite this discount, mid-caps offer higher projected earnings growth, making IJH a compelling choice for growth-focused investors.

Mid-cap firms have historically outperformed in periods of declining interest rates, benefiting from improved access to capital. Wong views the current rate environment as favorable for mid-cap growth, making IJH a valuable ETF in a balanced portfolio.

Why Stan Wong’s Picks Make Sense for Investors

Wong’s top picks—Caterpillar, Netflix, and the iShares Core S&P Mid-Cap ETF—reflect his balanced approach to navigating market uncertainties. With a mix of cyclical and defensive plays, his selections provide a shield against potential economic headwinds.

By focusing on sectors such as industrials, technology, and mid-cap growth, Wong ensures exposure to multiple growth engines within the economy. This approach minimizes risk and optimizes returns across diverse market conditions.

Strategic Insights from The Stan Wong Group

The Stan Wong Group’s positive view on equities is rooted in a strong economic foundation. With no signs of a near-term slowdown, Wong and his team are confident in their long-term growth projections for the U.S. market.

Wong’s strategy is built on selecting high-quality, secular growth companies with strong earnings potential and competitive advantages. This approach is designed to withstand market fluctuations and deliver steady returns.

Wong emphasizes diversification as essential for managing risk. A balanced portfolio that includes large-cap stocks, mid-cap ETFs, and sector-specific plays allows investors to maximize returns without overexposing themselves to any single market force.

Conclusion

Stan Wong’s top picks for November 7, 2024, reflect a thoughtful approach to today’s market landscape. His selections—Caterpillar, Netflix, and the iShares Core S&P Mid-Cap ETF—provide investors with exposure to essential growth areas and demonstrate resilience in a complex economic environment. With a promising U.S. economic outlook and strong corporate earnings forecasts, Wong’s investment strategy is well-positioned for sustained success.

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