The defense sector has a 'guaranteed source of demand,' according to Ritholtz Wealth Management CEO Josh Brown.
The new world order is pushing aerospace and defense stocks higher, for better or for worse, says Ritholtz Wealth Management CEO Josh Brown. Defense contractor Lockheed Martin shares were up 2.7% to a record on Tuesday afternoon. Meanwhile, the iShares U.S. Aerospace and Defense ETF were up 1% and just 0.7% below their all-time high of $118.14 reached March 6. Brown said Tuesday on CNBC's "Halftime Report that the war in Ukraine has led to surging demand for helicopters and missiles.
Nobody's cheering — it's just a reality of humanity that we go through these phases." The wealth manager said that changing perspectives on national defense elsewhere in the world is essentially creating a "guaranteed source of demand" for companies in the defense sector. "You're going to see countries like Japan [and] Germany, that haven't really had to arm themselves, defend themselves for 70 to 80 years, now coming to the table with an order book.
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