Press & Media
04/14/2025 The volatility in markets will likely continue as tech earnings season approaches in a few weeks. Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management, said the numbers companies share from the last three months are going to be the most irrelevant historically. That is because Wall Street is going to be listening to what companies have to say about guidance.
“If I were the management team, I would just suspend guidance, because the stock has already been pummeled. They really don’t know any better where this is going. So why not just take the whole big bath right now?” Ruggirello said, adding that management teams can take the path of underpromising now, then overdelivering as the year goes on.
https://www.barrons.com/articles/tech-stocks-invest-amazon-apple-880e982e
04/11/2025 Investors start to realize that even with the pause, a trade war with China is still happening, with very little clarity on the path ahead between the two nations," said Robert Ruggirello, chief investment officer, Brave Eagle Wealth Management.
04/08/2025 Despite Tuesday’s gains on growing optimism for tariff negotiations, investors will need to see more stability in trade policy for the bounce to have legs, according to Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management.
“There has to be some staying power, something [where] corporations can make longer-term capital allocation decisions. They have to have confidence in a consistent policy,” said Ruggirello.
https://www.cnbc.com/2025/04/07/stock-market-today-live-updates.html
03/28/2025 Brave Eagle CIO says Nvidia Valuation Offers Opportunity After Recent Decline
Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management, believes investors still have an opportunity to buy into Nvidia (NASDAQ:NVDA) after missing its massive rally. In a Friday client note, Ruggirello pointed to Nvidia's recent valuation reset as a compelling reason to enter the stock, despite the broader market's downturn.
The S&P 500 (SP500) is on pace to decline more than 4% in Q1 2025, and Ruggirello said the correction phase appears to be nearing its end. While some market corrections involve a re-test of the lows, we believe valuations are compelling and would be putting new money to work, he noted.
Nvidia's price-to-earnings multiple has fallen from 45x to 24x, according to Ruggirello, compared to the S&P 500's move from 25x to 21x. He said this has narrowed the valuation gap between Nvidia and the broader market, opening a window for investors who previously sat out the AI chipmaker's rally.
03/28/2025 The PCE print "suggests that inflation still remains sticky, despite signs of softening in recent months," says Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management.
He adds that today's report represents February data and "doesn't account for the expected uptick in inflation from tariffs," which creates "lots of uncertainty" to the outlook.
Still, Ruggirello believes the Federal Reserve is on track to cut interest rates two times this year, with the first coming in September. According to CME FedWatch, futures traders are pricing in a rate cut as soon as the June meeting.
03/14/2025 The cuts are a “total washout” for public companies in the short-term, said Robert Ruggirello, managing director and founder of Brave Eagle Wealth Management, given that the government is a big spender. “Even if you can identify some good sectors and companies that over the medium- to long-term may benefit, nobody’s going to care right now.”
Ruggirello said companies will always put a positive spin on calls. “They don’t want to be responsible for cratering the stock price.”
03/02/2025 “The stock market’s recent declines are simply garden variety volatility,” said Robert Ruggirello, founder of Brave Eagle Wealth Management.
Ruggirello said February is historically a volatile month for stocks and noted there were gains in January. “We do not believe that the recent market declines are a sign of some sort of deeper bear market on the horizon.”
https://www.politico.com/news/2025/03/02/trump-assets-wall-street-finance-00206497
2/28/2025 "Friday's PCE made progress in moving lower and toward the Fed's 2% target, albeit slow progress," says Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management. "While additional rate cuts are still probably many months away, we believe this report helps to keep one or two rate cuts on the table for 2025."
Ruggirello adds that inflation data is "volatile," but he believes the numbers "will continue to improve going forward.
2/28/2025 “The stock market’s recent declines are simply garden variety volatility, largely because February is historically a volatile month, and because we saw significant gains throughout January,” said Robert Ruggirello, chief investment officer at Brave Eagle Wealth Management.
https://www.cnn.com/2025/02/28/investing/us-stocks-nasdaq/index.html
2/28/2025 “While additional rate cuts are still probably many months away, we believe this report helps to keep one or two rate cuts on the table for 2025,” said Robert Ruggirello at Brave Eagle Wealth Management. “We believe that inflation is yesterday’s problem and that the data will continue to improve going forward.”
2/28/2025 “While additional rate cuts are still probably many months away, we believe this report helps to keep one or two rate cuts on the table for 2025,” said Robert Ruggirello, chief investment officer, Brave Eagle Wealth Management, in a report.
https://www.barrons.com/articles/pce-inflation-interest-rates-fed-710cf717?mod=hp_LEDE_C_2
2/22/2025 "The pendulum swung too far in favor of US exceptionalism and too negative outside of the US," Robert Ruggirello of Brave Eagle Wealth Management said in an interview. "Coming into the year: tariffs, China's bad, China regulation, all of this stuff. And it's sort of reverting back to the mean now."
Concerns about tariffs and the economy pushed Europe's already-cheap stock valuations to irresistible levels, Ruggirello remarked. The investment chief noted that the S&P 500's forward earnings multiple is well above that of the Stoxx 600, and it's also far higher than when Trump took office eight years ago. He believes investors are now adjusting their portfolios accordingly.
"The train left the station, but the ride can go on for quite some time — if not the whole year," Ruggirello said of European stocks. Once profit growth picks up and broadens, investors often turn their attention to the cheapest parts of markets. That's why Ruggirello is most bullish on Chinese companies right now. "I would think China could outperform for quite some time now if there's better news, like what's been coming out recently," Ruggirello said.
"There was already such terrible sentiment that nothing good was priced in there," Ruggirello said of China. "The tariffs were more than priced in, and there were no positive catalysts on the horizon."
2/20/2025 Robert Ruggirello of Brave Eagle Wealth Management believes it's "an encouraging sign" that the S&P 500 hasn't fallen below 6,000, even with the latest decline.
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