One of the biggest shake-ups in the financial world right now is a matter of location.
Goldman Sachs recently revealed that it may move its New York–based asset management division — a $1.46 trillion powerhouse — to South Florida.
JPMorgan Chase is in the same boat, as CEO Jamie Dimon said last month that he’s also considering moving his company to South Florida.
Billionaires Carl Icahn, Barry Sternlicht and David Tepper have already opened offices in Miami, along with New York equity giant Blackstone.
All in all, South Florida is quickly becoming “Wall Street South.” (Banyan Hill has had offices here for years, so we’re clearly ahead of the crowd.)
But it’s not just big-shot hedge fund managers who are packing their bags. Americans across the country are leaving urban centers in favor of less-crowded destinations.
According to a new report from moving company U-Haul, every single one of the 30 most populated U.S. cities had more U-Haul trucks depart than arrive in 2020.
Fortunately, Smart Profits Daily readers who have been following the biggest trends of this new American economy grabbed a quick 68% gain.
Read on to find out how they did it…
1 Company Prospered as People Fled Cities
New York and the San Francisco Bay Area both saw a massive exodus last year.
Many Americans chose to leave major cities for reasons such as:
- Increased risk of COVID-19 exposure.
- High taxes, housing costs and living expenses.
- New work-from-home opportunities.
- Record-low mortgage rates.
- Warmer climates in less-crowded areas.
The situation has led to huge profits for the holding company that owns U-Haul, Amerco (Nasdaq: UHAL).
Brian Christopher recommended the stock to Smart Profits Daily readers in May. Since then, shares have soared 68%:
I asked Brian for an update on UHAL. Here’s what he had to say…
U-Haul Will Continue to Move People
I told you people were doing the unthinkable — leaving forever the places they once called home.
Amerco helped many of them do so.
In the quarter that ended September 30, UHAL’s earnings per share increased 70%. Coincidentally, shares are up about that much since my article was published in May.
The stock isn’t the cheap gem it was eight months ago though. Its multiples are closer to highs than they were in May.
But I expect U-Haul will continue to move people.
If the COVID-19 vaccine works, some will even move back to where they came from.
But it’s important to try to get in front of these trends. Amerco stock doesn’t have much upside left in it.
I recommend you look for a pullback — like we saw at the end of October — before you let it ride on a position.
We’re Helping You Make Money
Smart Profits Daily is a free news source that will get you in front of stock market moves — and make you money.
UHAL’s rapid rise is a perfect example.
And changes are happening so fast in the new American economy that it’s more important than ever to stay informed on the latest trends.
So, we’ll continue to bring you our research and insights in future emails. Stay tuned!
Assistant Managing Editor, Banyan Hill Publishing