March 14, 2021 ALP Administrator

CIO Commentary – Fourth Quarter 2020

The election, inauguration and impeachment tensions have now passed, and headlines have shifted to the classics such as monetary/fiscal policy, increasing taxes, vaccine management, post-lockdown economic bounces and the timing of rotation from growth-styled equity approaches to economic/pro-cyclical themes. New headlines grabbing investor attention include SPACs, the “gamification” of the stock market, and the Reddit community of retail investors that “punt” and drive speculation on overly shorted equities. It is beyond the scope of a short CIO perspective to comment on all of these macro headlines but the one perennial issue material to the capital markets is the notion of rising interest rates, economic recovery and its impact on asset allocation and investment strategy. Read More.