Would you like to watch and listen firsthand to the person responsible for overall portfolio strategy for about $30 billion of investment assets? If you do, this video is for you. A few weeks ago, we had Nick Lacy with us in our office. Nick is the Chief Portfolio Strategist for Asset Management Services within Raymond James. It is safe to say that he is slightly smart.
A fair amount of Nick’s commentary is about the first quarter of 2016. That is where the most action was so far this year. Nick lays out what happened in common language, including the pullback in the first part of the quarter due to some longer term issues, along with a nearly complete rebound by the end of the quarter. Nick pointed out that the clarity from the Fed on interest rates was particularly helpful to many market participants. He speaks to the relevance of China, commodity prices, and overall slower worldwide economic growth. Take note that there is still growth, it’s just less.
At about the 4 Minute mark, we switch to the future. Only time will tell if Nick was correct or not, but so far, his comments on interest rates being likely to increase slower rather than faster seem right on target. He seems to think that companies outside the U.S. will have better earnings growth in the near term, while the U.S. has very solid prospects in the longer term. Fixed Income (bond) expectations are relatively mild, since yields are low. Still, Fixed Income has a place in balancing out volatility in many portfolios.
Overall, Nick did a great job of giving us 20 minutes of information in about 5 minutes. If you want to talk about how his outlook might affect your portfolio, please reach out to us at 920-617-6830.
To a joyful future,
Opinions expressed are those of Patrick Stoa and are not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. Investing involves risk, investors may incur a profit or a loss. Prior to making an investment decision, please consult with your financial advisor about your individual situation. The information has been obtained from sources considered to be reliable, but we do no guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation.