Bank of America: Invest in Stocks Favored by Cash-Rich Boomers, Avoid Those Dependent on Debt-Burdened Millennials
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Bank of America suggests going long on stocks favored by baby boomers like healthcare and cruise lines, and avoiding stocks dependent on cash-strapped millennials.
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High interest rates are fattening boomers' savings while millennials struggle with debts, high rents, and mortgages.
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Sectors like health care, entertainment, and home improvement could benefit from boomer spending.
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Clothing retailers face headwinds as they cater more to millennials who have pulled back spending.
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Cruise lines have heavy boomer exposure, while clothing retailer Revolve faces risks due to its millennial customer base.