2023 Investment Outlook - Some light for investors after the...
Must read articles
Understanding the outcome of the May FOMC meeting and its market and implications5 to 10 minutes
Nowadays, US value trades at its steepest discount to growth since 1999. However, declining Covid-19 cases, a broad-based economic recovery, prospects of higher interest rates as we progress out of the pandemic, and the return of persistent inflation pressures should help close the valuation gap between growth and value stocks.5 to 10 minutes
We believe now may be the best time in recent history to invest with an active approach in US equities. Passive indices outperformed active managers in recent years as US equity markets became more concentrated and dispersion declined: concentration in the five largest stocks in the S&P 500 had been increasing since 2013 and it peaked at 24% in 2020, when Alphabet, Amazon, Apple, Facebook and Microsoft benefited from a stay-athome environment in which people increasingly used technology to communicate, shop and work.> 10 minutes
The rotation towards value is a key theme of our 2021 investment outlook.> 10 minutes
The outperformance of growth stocks over value stocks has reached record levels, as has the valuation gap.< 5 minutes
US presidential election outcome: Joe Biden has enjoyed a remarkably stable lead in the national polls this year.< 5 minutes
The US economy has entered a recession, induced by the social distancing and quarantining measures introduced to tackle the pandemic crisis.< 5 minutes
Uncertainty surrounding the magnitude and duration of the global health crisis is driving volatility and testing liquidity across the world’s financial markets.< 5 minutes
2019 proved a strong year for US assets, with US equity markets recording the strongest annual total return since 2013 and the US aggregate bond index up almost 9.0%. In addition, the past decade proved the best ever for the S&P 500 index, which returned 256% overall, well above its historical average.> 10 minutes
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