Tuesday Mar. 31, 2026 - Big buying opportunity?

He's been seen on CNBC, the Fox News Jet, and the Fox Business Jet.

His articles can be found on Market Watch, Seeking Album, Distreamed Outtown, and many

other places.

He's the author of the weekly Best Stocks Now newsletter, and the inventor of the Best

Stocks Now app.

He's president of Henderson Capital Managers.

Here is professional money manager, Bill Henderson.

And welcome to the end of the quarter March 31, 2026 edition of the Best Stocks Now show.

I hope you listen to yesterday's show where I spent pretty much the whole hour explaining

why I think this is one of the best buying opportunities of all time.

I can't tell you the day.

I can't tell you the hour, the minute we're off to a good start here today.

And you still have to take it stock by stock on a daily basis.

But the market is dripping with value right now.

The Dow is up 598 points right now, 245,814.

The NASDAQ is up 412 points or 2% right now.

The deeply oversold NASDAQ I would add.

The S&P 500 is up 1.6% to 6442.

The Russell 2000 is up 51 points or 2.1%.

The big thing that I saw today that was quite surprising here is interest rates dropping.

Big drop today.

Clear down to 4.31.

We were at 4.50, so we're down to about 20 basis points from that recent high.

Bill is still sticky, however.

It is starting to come down a little bit right now.

We're down to 10279, but we need to get it back into the 70s, at least.

So welcome to today's best stocks now show with professional money manager Bill Gundersen.

President of Gundersen Capital Management, a fee based only nationwide money management

firm, registered investment advisor.

Yes, we are fiduciaries, Barry, have you?

We get that question a lot.

I'm glad it's funny.

I always tell people, I'm glad people actually asked that question nowadays.

It used to be, you know, it used to be if you knew, you know, 10, 15 years ago, if you

knew what a fiduciary was, it probably meant you were a fiduciary, you were a fiduciary

and actuary or something.

Now we've had, you know, you get a couple of commercials out there that you see on the

screen.

Fisher investments is not the only fiduciary in the world today.

Every RIA, every registered investment advisory firm is a fiduciary, meaning we put our

clients interest ahead of our own interest and in a fee based industry, really, I mean,

the RIA industry is fee based only, no commission.

There is no motivation for me to buy this stock versus that stock, right?

I'm looking at it for your best interest.

We all benefit.

I don't know what Fisher says.

Would you do well?

We do well or something.

Yeah, that's right.

Okay.

It's good to see everything green on the screen today, except oil down just a little bit.

Except oil.

I like it.

Well, you know, I mean, I went, Friday was a dark day in the market once again and

yesterday, I thought was maybe the darkest day of the year, really ugly.

The charts just look awful, but the other side of this equation is the valuation equation.

The earnings have not moved during all of this.

In fact, they, well, they have, they've moved higher, believe it or not, significantly

higher over the last several weeks as we end the quarter today and anticipate the next

earnings season.

And I went through the numbers yesterday on the estimates for 2026, S&P 500 and the estimates

for 2027, which is up around $370 per share.

Look how far we've come since 2009 when we were at $53 per share.

The earnings have gone up sevenfold since 2009 and the market has followed those earnings.

It's as simple as that.

When the earnings growth comes to an end, the market appreciation will come to an end.

But as of now, there's no signs of that even despite a shooting war taking place right

now in probably one of the most troubled areas of the entire world over the last many

years.

And there is some green shoots out there today on Iran.

But as I said yesterday, you know what, if you just get past the news, get past the

noise, the mainstream media trying to scare the hell out of you and shred the potas ratings,

you have to get past all of that and you have to just look at earnings.

And the ratios that are out there, the valuation ratios, and I couldn't even believe it.

When I did my studies early Saturday morning, market closed, it's quiet, it's peaceful.

I said, I can't even believe this right now.

I've got 23% upside potential over the next 12 months based on what we know about the

market right now.

And my target price has gone higher.

I was at $7,600 when we began the year.

And now I'm at $8,000.

The consensus is $8,300, so I'm well below the consensus.

I think maybe $8,000 is a little high.

To get to $8,000, you need a multiple of $22, which is the other elephant in the room

right now.

Multiple on the S&P 500 came down to 19.77 on Friday.

After hitting 23 earlier in the year, and at 19.77, you're at the five-year average S&P 500

multiple, which has been 19.5, so the valuation argument on the market is compelling.

And I got to tell you this, when I read all of these articles or the headlines, I don't

read most of the articles on seeking alpha because they're nonsense, other than ours,

right?

There's a few others that I find to be credible.

But you don't read many of the yield that they did for you.

You're ready for the market crash, retire on this double-digit dividend yield, etc., etc.,

etc., which nauseate me.

It makes me sick to even see them.

But they're after page reads.

God bless them.

You know, that they're after page reads.

Shame on them is what I say.

Give us an honest assessment by not using clickbait to get page reads because they get paid

by page read, all right?

And there's so many Doomsday articles out there right now.

And none of them even mention the current valuation and earnings picture of the market,

which is the biggest factor in the market.

Now, right now, obviously, the sentiment of the market is weighing in a little heavier

than the valuation.

And sometimes the sentiment gets so ugly, it's so blind, it cannot even see the earnings

picture.

It ignores the earnings picture or it doesn't understand the earnings picture.

I think a lot of these writers out there really don't understand how the market follows

earnings.

Kids, the market follows earnings.

It's as simple as that.

And if you're telling me that we're on the precipice of the biggest bear market of

all time, have you even glanced at the earnings?

Do you even understand how earnings work?

Do you know that's public knowledge that you can look up before you write these Doomsday

articles?

And what would be their detriment earnings, right?

I mean, there are chances of the apocalypse or some other sound reason where earnings

go down to qualify, but at some point, thankfully, I've heard the mantra a little bit more

since we've talked about it all continuously, is that at some point, the street's going

to be open, right?

I mean, the economic interest of the world parties is the world against Iran.

Not just the U.S.

The economic, yeah, economics eventually wins out, right?

I mean, yeah.

They got out of that oil and they're holding it hostage as their military is getting depleted

by the day.

How are they going to hold on?

You know, something's got to give here.

And those oil prices have to start coming down at some point, but I understand.

You know, when you're in the darkest days, when you're in a dark tunnel, I have a little

bit of claustrophobia.

I don't like long dark tunnels, as for sure.

You feel like there's no light at the end of that tunnel.

You're going to die.

You know, I'm in this dark tunnel.

It's pitch black.

I'm never coming out of it.

I understand that sentiment.

And you think that today's conditions in the world are going to last for years and years

and years and just absolutely destroy the economy.

That's the sentiment and that's how the irrational person thinks.

And the crowd loves to follow that kind of sentiment.

I like it to a bunch of lemmings.

They're going one way and all of a sudden, someone says something and more people say something

and the mainstream media joins in and they turn around.

They do an about face and they all go the other way.

That's the crowd.

And the smart investors, I would hope I have a little bit of smarts after 25 years

in the market, 26 years of market are saying, you know, we don't see what you see.

And why are you running off the cliff and jumping in the water like a bunch of lemmings?

They're welcome of time, you know, and we'll give to some kind of situation like that,

but we're not there yet, folks.

All right, we'll be right back.

6.68 AM, the answer.

Yeah, welcome back here to the second quarter of today's best stocks.

Now, show, you know, last night the futures were way down.

We had a terrible day in the market yesterday, just an awful day in the market.

Yesterday, and what happened between last night, but the time I went to bed went to sleep

and woke up this morning and saw that things were looking green on the screen.

Well, you know, whether you believe it or not, Trump looks to wind down the Iran war.

The moves come after Wall Street, the Wall Street Journal reported that Trump told

AIDS he is willing to end hostilities on a four to six week timeline, prioritizing the

degradation of Iran's navy and missile stocks over the more complex mission of reopening

the straight of or moves.

So that got things going in the right direction.

Trump also said that the hard part with Iran is done, and he also told allies, you're

going to need to secure your own fuel, which I totally agree with, you know, they've made

a lot of bad decisions in Europe, a lot of bad decisions about it from us.

Yes.

And that's what he's recommending by the, he's the consummate salesman, he says you

can buy from us or you can take it yourselves.

I don't know what he means by that, but get a piece of Iran's oil.

He means he means help help us out.

Yeah.

That's what it sounds like.

If either one is self serving to Trump's, the master, you know, art of the deal.

Real guy in remarks highlighting tensions with allies, Trump's remarks came as several

US partners, including the United Kingdom, France and Germany have stopped short of offering

direct military support.

He said, okay, well, then you're got to secure your own oil or help us take it is what

it sounds like.

So that's where Europe is at.

I mean, they originally went with Merkel and Germany signed on with Vladimir Putin to

supply oil to the number, you know, the biggest driver of the Europe economy is obviously

Germany.

And Trump says, you're going to have to start learning how to fight for yourselves.

The USA won't be there to help you anymore, just like you weren't there for us in this

conflict.

Iran has essentially been decimated.

The hard part is done.

Get your own oil.

Okay.

Now, what are the allies don't really, you know, get along with these days.

But, you know, tough love is an order sometimes.

And of course, the situation is at a tremendous volatility in the global energy markets.

That's what needs to come down next, if we're really going to get a meaningful rally

in the markets, which is coming.

I mean, we're seeing maybe a preview of it today.

You've got to get oil prices down back into the 70s, I would say.

The odds still favor US ground forces entering Iran before the end of April, but it sounds

to me like it would be kind of like a Venezuela deal, but maybe a little tougher, obviously.

It seems like we're after their enriched uranium.

Maybe we should send in Harrison Ford with his whip.

It's in a cave somewhere, right?

And that's a fieldwork figure out how to get that enriched uranium.

Can you imagine what it is?

Can you imagine what it is?

Can you imagine what it is?

Can you imagine what it is?

Can you imagine what it is?

I would imagine, I was going to say it.

You probably got to put more than that leather bag of his, you know, the satchel that he

would carry around in it.

So it's a, you got to have me, I mean, it reminds me of something you would see back

to the future or even the Simpsons with that glowing stick, right?

Yeah.

I do our special forces know what enriched uranium looks like and how to handle it.

You know, I was messing around with this little cube of antimony on my desk when somebody

wrote to me an email, said, Bill, don't touch that stuff.

It's toxic.

Oh, I put it in the plastic case.

I haven't noticed any rashes or anything yet, but, you know, that enriched uranium and

it's heavy.

I was reading, it's like 200 pounds or something like that of enriched uranium, which is

enough to make eight nuclear weapons.

And of course, the big debate is, and you can have your own opinion on this.

If Iran was able to create a nuclear weapon, would they have used it?

Well, that's the case being made for the reason we would it because a lot of people believe

that they would have used it.

Brent crude set for the biggest monthly gain on record on record.

Now, I was around in the 70s in a one hour line with my even license plate.

If your license plate ended in even, you got to fill up on Monday, Wednesday and Friday.

And if you had an odd license plate that ended in odd number, it was Tuesday, Thursday,

and Saturday.

That was back in the 70s.

That was the oil in bargo.

And guess what?

It was the same Ayatolo, who's now six feet under the ground somewhere buried.

They had a funeral for the guy and the good riddance to one of the biggest trouble makers

of all time.

Now, the other part of this equation is the number one sector in the market by far, you

know, my app, it measures on a relative basis where the strength in the market is.

And it's like the top 200 stocks recently, maybe 180 of them are oil and gas related.

That's a bubble.

I mean, we're seeing a bubble in oil, we're seeing a bubble in the energy stocks.

And it's not sustainable.

I mean, if we could back to where oil was before all of this, it was in the high 50s.

And the demand was being met, you know, no problem meeting the demand for oil.

And the equation was not very good for oil in the oil stocks.

And that's why we have not owned any oil stocks in ages.

But now we find ourselves holding quite a few oil stocks and they've helped us through

this.

But I think just like the gold stocks and that gold bubble, did it pop, Barry?

Remember on that Friday, it's overwent down 28% in one day and hasn't seen those levels

since.

No, it never recovers from something like that.

I think not tomorrow, not the next day, I think you'll see some big down days in oil,

especially as, you know, progress is made in Iran.

Well, I've just had its best month ever, I think up 50% for the month, 14 week rally.

And it's all on geopolitics, well, we've done very well.

I mean, we own a shinier energy, LNG, we own VG, venture global, we own Haliburton,

H-A-L, we started buying right before Venezuela and we bought a lot more after Venezuela.

We own neighbors industry, we own NE, noble energy, and a few others that are escaping my

memory right now.

But for the first time in a long time, we have, and we've done well, obviously.

That's the NVIDIA of today and the gold of today is the Black Gold Texas D, as Jit Klan

said.

Now, when we come back, we aren't going to talk about NVIDIA and the memory stocks, alright?

And welcome back here to the second half of today's Pest Talks.

Now, show, well, we're all booked, Barry, for Sarasota next week, our airline tickets are

bought.

I'm packing a lunch for the TSA line and a breakfast, maybe, hopefully it's not too bad in

Charleston.

I mean, we're not like Atlanta or Charlotte, yeah, and what you're in, you're in, you're

in.

You know, what's weird is from here, we have to fly to Charlotte, and then turn her out,

get an airplane and then fly to Sarasota.

That's just the way it is.

I mean, we're not in a real big market airport, but we will arrive Monday, I'm flying down

with the, with the, with the junior analyst, and we will arrive, we're just staying at the

even hotel down there.

Edie tells me that she was worried that we're going to have to get a bigger venue, but she

thinks we'll make it at the even for the workshop Tuesday, especially.

In fact, she said there's maybe 20 seats left or so.

And if you'd like to grab one of those seats, it comes with a cookie, I think, you know,

that's all you always walk away with is a stale cookie.

Call us at 855-611-Best, 855-611-Best, and then she was also talking about having to

add another day for the appointments, these one hour appointments.

I haven't heard back, but I'll be there through Thursday.

I booked my flight for Thursday morning, but I'm willing to change that, no problem.

So you know, this is a rare opportunity.

We probably won't be back this Arizona to late this year or early next year.

So this is your chance to meet with the team, Barry and myself, and the junior analyst

will be sitting in, learning, observing.

Maybe we'll have anthropic fun, too, and see if anthropic can take a chair, and someday

replace me, or, you know, grok, maybe grok, anyway, we'll be down there.

I'm looking forward to it.

Those meetings are on Tuesday and Wednesday, one hour meetings, eat these lines are open

now.

If you want to call, she's in Phoenix, remember, it's a three hour, two hour difference

this time of year.

Call her at 855-611-Bes, she'll be there, too, and so we'll Jennifer, 855-611-Bes,

to reserve a one hour meeting with us, or a seat to the workshop, which comes with a cookie,

or both, comes with a cookie, and we usually have snacks in the conference room where we meet,

you know, so that keeps me going throughout the day.

All right, now, back to another topic here.

This bit, you know, there's another term in the market, oversold.

Yesterday it became one of the most oversold markets I've seen since COVID, that's the

last time, and then, of course, last year during the tariffs, and then the third time was

in January of 2023 when the Fed was about done hiking rates.

Those are the four recent ones, and this one matches those.

In fact, I just looked at my, I, I download the rankings every day into a spreadsheet

on my app.

There's only 235 B-plus stocks, or better.

In a normal market, there's about 500 out of 5,300.

In an overbought market, we get up to 900, 1,000, I've seen as many as 1,200 in a really

hot market that are B-plus or better, and it's the momentum side of the equation that

is pushing that number higher, and now we're down to 235, which is a really, really washed

out market.

And this market is dripping with opportunity.

You have to take a one stock at a time, however, like always.

But this oversold condition, and it really shows up in the charts.

Oh, man, where there's some grim charts that I looked at.

And like I say, sometimes the, you know, the darkest moment is right before the dawn,

and we'll see if that's true this time around.

This all I can say is the earnings are the light at the end of this tunnel, and it's

one of the brightest lights I've seen in a long time.

Now, someone will say, well, that's a freight train coming the other way with his headlights

on.

No, I don't believe that.

I believe we're going to emerge from this darkness, and the lights are going to come

back on, and they're brighter than ever.

Really, honestly, they are.

The earnings picture is as good as I have ever seen it during my entire career.

I've really never seen such a compelling argument to be made for the current valuation, and

the strength of the earnings is just incredible.

And it's just not being reflected in the market right now.

Okay, in video, there's news out today that in video is going to change their Vera Ruben

design to two die from four die.

Well, what does that mean?

It's mildly bearish for the memory chips.

And you know, that's the way markets work, and that's why memory is a commodity at the

end of the day.

When there's a shortage of it, they find workarounds, and that's what they're doing.

But having said that, you're still looking at $98 per share in earnings estimates from

micron next year.

So it's, I think some of the, those are still some of the best opportunities out there.

But like I've said, recently watched the chart, wait for it to settle, wait for it to start

going sideways, and then wait for it to turn around and start moving back up.

And the upwards direction will actually up, yeah, micron's actually up 1.85 percent

on this news.

How about San, San disk is on a run today.

It's I think it was up 6% when I saw, yeah, I'm up 6.86, there's not a brighter earnings

light in the entire market than those two.

You know what else is kind of played into this is helium.

I never know that helium would affect.

I think of helium as, you know, trying to get those balloons in your car, you know, on

a birthday.

They won't fit in the car and you lose one while it floats away into outer space with

the Elon Musk satellites.

That's the helium I know.

No, helium is needed for these memory chips.

And the South Korean chip makers are saying they're going to run out of helium by June.

And guess where it goes through the storm moves, 40 percent of it goes through the

straighter from moves.

We got crazy.

How come the ships don't float through there instead of, I don't know how long that works.

Now that's way to miss a mine.

I'm with you.

Yes.

Float right over.

Turn on the helium afterburner.

Banks are reportedly charging more for loans to private credit funds.

Well, that does not surprise me.

There's a lot of concern as JP Morgan recently marked down the value of certain loans.

And of course, if you own a pool of private credit, they marked that down.

That's not good.

That may wipe out, you know, six months worth of coupon return that you're getting on

the, you know, whatever the interest rate is.

Private credit firms are also charging more, allowing them to absorb higher funding costs.

I think the demand for private credit has dropped considerably.

And they really need that demand because the new money coming in much like a Ponzi scheme

I've worked with Lee helps with the redemptions.

And when the new money coming in dries up, that's what happened to Silicon Valley bank,

right?

Barry.

Yeah.

Well, they stopped getting deposits.

Right.

And they had to essentially everybody, you know, everybody wanted their money in a kind

of cascaded.

And the fact is that they had, you know, they had treasury debt that was allowed to be

marked at 100% a par.

Even though it was, you know, 20 year paper, though, it was at a very low interest rate

and actually was underwater.

So now they are, you know, the asset that they allowed, or allowed to mark up to 100%

right was worth like 70 cents on the dollar.

So eventually, right, they were selling stuff at fire sales and eventually don't have

the liquidity to finish out.

And, you know, these BDCs, which are middlemen, right, facilitating these loans, they're

asking borrowers, this is a bad sign, to defer their interest payments, let it accumulate

in other words, that helps their cash flow, obviously, the BDC, if the people say, yeah,

okay, don't send me my monthly jecks, just let them accrue in my account.

Well, that is a major, major red flag.

I think another thing helping the AI stocks today, which they've just been nasty.

The charts are nasty.

Why is a war in Iran and surging oil prices clobbering the AI stocks?

There doesn't seem to be a disconnect there, but it is what it is.

And I think there's where a lot of your best opportunity is, but as I say, take a stock

by stock.

You know all the major players in video, ASM lithography, core weave today, and video is investing

$2 billion in Marvel, which is a very good chip stock.

It's a second tier chip stock, but I was looking into it this morning.

I said, you know, the performance is good, the valuation is good.

It just needs that chart to improve.

But it could do that very, very quickly.

We'll be right back.

And what get back here to the final segment of today's best stocks now show a few other

things to talk about here between now and in the end of the show.

We've got some news on core weave, you know a lot of these AI stocks, and this could

be part of the consternation, I would say.

They're taking on debt, you know, to an order for them to grow, they're raising money.

And here's an example, core weave, just did a round of $8.5 billion.

And this is unusual.

I mean, tech didn't used to have to do a lot of debt.

They mostly floated new shares, but they're taking on debt.

And some of those private credit is our software stocks and AI stock.

But core weave has held in there.

It's one we still own.

It's an AI stock.

It's up 6.1% today, but suffice it to, and we went by, you know, we've bought not AI debt,

but we've definitely bought debt coming from the tech world in the past, especially if

it's a best stock now.

If it's a best stock now, it certainly would, you could make the argument that it's a best

bond now too.

So we've done that too over the years with our bond portfolio, which is for the people

that don't like volatility, or more mathematically outcome, in terms of percentages, right?

That's our alternative investment of choice.

Not private credit, not non-traded REITs, not all these other goofy things that Wall Street

dreams of, that pretty much lines their pocket nicely with nobody else's.

The bond market, you know, just own 10 individual bonds to maturity, I wouldn't own a bond

fund.

I've gone on and on about the terrible mediocre treat, so I got to look up AGG, or BND,

or any number of the bond fund ETFs, look at the 10-year track record.

It's about 2% a year.

Why would you have, if you're 70 years old, why would you have 70% of your portfolio in

bond funds, which is kind of the common wisdom on Wall Street?

You're just killing your portfolio.

You're dragging around a giant anchor.

That's right.

I was talking about that with a client a couple of days ago, just in terms of like, you

know, it's like the old 60-40 portfolio, or 70-30 portfolio, that 30% bonds, or 40% bonds.

It's an anchor.

You know, and honestly, this last year was probably one of the best years for the 60-40 portfolio,

and you don't like never see 10% or 11% again, you know, just the way it's built.

How many people have written to us, or said to us, you know, I'm behind.

I need to catch up in my retirement.

If I want to ever retire, I've got to catch up, because time never stops, if you notice.

From the time I get up in the morning, I'm fighting the clock, you know, to get the notes

done for the show, and then the show's over, and as I got to get through my 600, 800 charts,

it never ends.

It just keeps moving.

And day by day, as you go to work and drive to work, and you've got your 401K, I would

say that's one of the best tools you have.

Max that baby out, and invest it wisely.

Don't invest in a target fund, or a 60-40, invest it wisely.

The S&P is not going to do that the next 10 years, but it's average 24% per year over

the last 10 years.

That'll catch up real fast.

If you've done that, if you did that, if you were there, you've got a pretty fat 401K

right now.

To play catch up, you just have to invest.

I wouldn't say you have to get more aggressive.

I wouldn't say that.

I would say you have to invest smarter.

And we have proven that there's some major anchors that are dominating people's portfolios.

And I would add to those major anchors, AT&T, Procter & Gamble, Kimberly Clark, which,

you know, if your company hires outside money managers that buy individual stocks, I look

at those outside managers.

It's the same recipe, it's Accenture, it's AT&T, it's Verizon, it's Home Depot, it's

Lowe's, and if you're sitting there nodding your head, yep, that's what they got me in.

That's the second biggest anchor that is dragging you down and keeping you from catching

up.

Now, that doesn't mean you've got to go out and buy private equity and private credit

and, no, just be smart, you've got to buy quality because if stock prices follow earnings,

which I believe they do, you don't want to own two or three percent growers in your

portfolio if you want to retire someday.

Now maybe when you're retired and you want to lighten up a little bit, you don't have

to own the nibbiuses of the world and, you know, the corpus of the world, you can lighten

up a little bit and, you know, I mean, that's where the Halliburton's and the NVIDIA's

and the shinier energies come in, all right?

Well, we are about out of time, we've discussed a lot here today, we've got a couple articles

in draft mode right now that should be coming out this week, but I obviously gave you

a big preview in the newsletter over the weekend of, we're going to do a macro outlook article.

We did one in the early 2023, we were right, we did one in March of 2020 during COVID,

we were right, we did one last year during the tariffs, we were right and it's time for

another one.

Well, we'd be right, what will we recommend?

Well, you saw a big preview in the newsletter over the weekend of the gist of it, the facts

behind it that we use that we rely on and you also, if you listen to yesterday's radio show,

you will hear the case that I made and a lot of the information in our article that we're

working on will come from yesterday's radio show and today's show.

Anyway, to get our four week trial to the newsletter, the app, the live trades, gendersandcapital.com,

to set up an appointment with us to put a money manager on your side working for you,

working hard for you to try to find the, not the next, not home depot and lows, but stocks of

today. Give us a call at 855-611-Best, 855-611-Best. Have a great day, everybody.