We don’t invest in “the stock market” as a whole because we know how easily a few truly weak spots can mask strength elsewhere, asserts Hilary Kramer, editor of GameChangers.

For us, focusing on strong spots, while avoiding obvious pain points, keeps the profit flowing. It is how we outperform year after year. And now that relative winners and losers are finally emerging after weeks of near-universal correlations, it’s time to focus on strength.

Most of the market’s recent pain is clustered in very narrow and easy-to-avoid segments. Cut them out of your portfolio or underweight them, and you’ll feel a lot of relief.

If you’re afraid of another Lehman Brothers credit crash despite the Federal Reserve’s best efforts, steer clear of the big banks. But the little banks haven’t done well, either. Avoid the entire sector.

I’ll make an exception for Berkshire Hathaway Inc. (BRK.B) because it has a foot in the real economy as well as finance. And now is the time to load up on electronic payment stocks like Visa (V), Mastercard (MA) and PayPal Holdings (PYPL).

These stocks have outperformed the sector. They’re the future in a world of “social distancing” and increasingly online commerce. While they’re technically classified as technology stocks, I like them a lot better than the banks.

Big Tech has held up remarkably well. It’s the linchpin of the market but the stocks are not hurting in the same way as the banks or Big Oil.

Microsoft (MSFT) and Apple (AAPL) are the battleship stocks of the new economy. They aren’t going away any time soon. And Amazon (AMZN) has recovered almost all the ground it lost early this month.

Meanwhile, consumer patterns remain robust. But in a world of emergency grocery runs and home delivery, the landscape is changing.

Start with delivery. Domino’s Pizza (DPZ) is crushing more broad-based food delivery stocks like GrubHub Inc. (GRUB), as well as Uber Technologies (UBER), which also delivers from restaurants.

The outperformance isn’t hard to explain. UBER cars carry people, as well as food. Many of those people are sick right now, raising the risk that they’ll infect the drivers and the meals. Nobody but the pizza driver ever gets into a Domino’s car. Which would you rather ask to bring the boxes to your door?

But if I had to pick a favorite theme, it would be the consumer brands. General Mills (GIS) is shipping as much cereal as the factories can produce. And it pays close to 4% a year in dividends.

If Big Tech has become the new “mainstream” battleship of the market, Big Consumer stocks can play the role bonds play in the traditional investment portfolio. Treasury bonds pay less than inflation. You’re not locking in any kind of income there. You’re guaranteeing the right to sacrifice purchasing power by the time you get your principal back.

General Mills is roughly as unlikely to default on its obligations as the Treasury at this point. Given that comparable risk profile, take the higher yield.

Johnson & Johnson (JNJ) has a higher credit rating than the Treasury. It is less likely to default. And it pays 3% a year. Skip the bonds and load up on the stock instead.

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