Aadil Zaman of Wall Street Alliance backs Costco in execution-driven year

Summary

Aadil Zaman, Partner at Wall Street Alliance Group, says 2026 will be an execution-driven market where companies delivering results are rewarded and those falling short are punished. He warns that a Supreme Court tariff ruling could add volatility, with the S&P 500 priced at 22-23x forward earnings and concentration risk, and sees a likely 10-15% market pullback. His top idea is Costco, which he expects to do well this year after underperforming last year, benefiting from the consumer and potentially from tariff relief. The interview also begins a discussion of the upcoming jobs report.

• Aadil Zaman says the 2026 market focus shifts from promise to execution.
• Policy changes and the macro backdrop are largely factored in.
• A tariff Supreme Court ruling could create additional market volatility.
• The S&P 500 is priced for perfection with concentration risk; a 10-15% pullback is seen as likely.
• Costco is his top pick, expected to benefit from consumer trends.
• Costco underperformed last year but should be a big beneficiary this year.
• Tariff strike-down could boost short-term profitability in some sectors.
• The jobs report discussion begins but the transcript is truncated.