
Why Skills-First Leadership Is Replacing the Ivy League Playbook in the C-Suite
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
September 8, 2021: -Facebook, Amazon, Apple, Netflix, and Alphabet have outperformed the broader markets over the previous month, retaking leadership of the S&P 500.Although, as the busy holiday season approaches, macro headwinds, labor shortages, and supply chain constraints pose significant threats to the stocks.
According to Craig Johnson, a chief market technician at Piper Sandler, Netflix, which has led the group, could have a secret weapon to counter this. He said the company could avoid the potential supply chain disruptions, which are better than the rest.
“I keep hearing about how much of a disaster it’s going to be for the holiday season,” Johnson told CNBC on Friday. “If you can’t get those holiday gifts put together, perhaps maybe a subscription to Netflix is something that could be given.”
The charts also suggest more upside for Netflix, Johnson said, following its lengthy stretch of consolidation.
“Based upon what I see with the charts, I can see about 18% upside here on this breakout,” he said.
In the same interview, Chad Morganlander, portfolio manager at Washington Crossing Advisors, picked Apple as the top name in the FAANG bucket. He said its shift from a per-unit sales revenue model to a subscription model gives the company a more reliable outlook.
“Our viewpoint is that, in three to five years, you should own this,” he said. “In that period, you could be buying this company and have less volatility than the S&P 500.”
Morganlander is wary of the FAANG landscape, although noting it is overvalued.
“Being that they are very high-quality companies, we would certainly look towards them, but they may not be in the short run the types of names that one would participate in if you are to be a trader,” he added.
The old prestige pyramid—where Ivy League degrees and blue-chip consulting backgrounds paved the way to the CEO seat—is cracking.
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The Fort McMurray First Nation Group of Companies is the wholly owned business entity of Fort McMurray 468 First Nation. It was established in 1987 as Christina River Enterprises, and the organization rebranded as FMFN Group in 2021. Providing Construction, Custodial, Petro-Canada Fuel & Convenience Store, and Transportation services to a broad portfolio of customers, the Group of Companies is creating financial stability and prosperity for the Nation.
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