Investment Strategy

MARKETS & INVESTING January 27, 2023   Review the latest Weekly Headings by CIO Larry Adam. Key Takeaways Earnings on pace to post first quarterly decline since 3Q20 Cost cutting initiatives to keep margins elevated Weaker dollar to be a tailwind for U.S. multinationals in 2023 Earnings are front and center – and rightfully so. […]

MARKETS & INVESTING January 27, 2023   Review the latest portfolio strategy commentary from Mike Gibbs, managing director of Equity Portfolio and Technical Strategy. The equity market has been resilient to begin the new year (up 5% YTD) and we believe that it is attempting to turn. When considering the equity market outlook, on one […]

MARKETS & INVESTING January 20, 2023   Review the latest portfolio strategy commentary from Mike Gibbs, managing director of Equity Portfolio and Technical Strategy. On one hand, technical indicators are becoming encouraging; while on the other hand, economic data (and fundamentals) are weakening. Oftentimes, the technicals will improve prior to the fundamentals (particularly out of […]

MARKETS & INVESTING January 20, 2023   Review the latest Weekly Headings by CIO Larry Adam. Key Takeaways Three consecutive years of P/E contraction is unusual The multiple & earnings don’t bottom in tandem Final Fed rate hike supportive of multiple expansion Last week, we released the rationale behind our Ten Themes for 2023 via […]