In this document you will find our 2022 outlook and a summary of our Key Expectations for this year. In a companion slide deck, we then present all of the charts and supporting data for our Key Expectations. Please enjoy both and have a great 2022! Normal but Not Boring 2021…
As 2021 enters our rear view mirror and we look ahead to the open road of 2022, there are certainly many variables to consider. With consumer spending representing nearly 70% of U.S. GDP, it’s quite evident the sizeable role consumers play in defining the trajectory of the U.S. economy. In…
Last week’s sharp market actions of raising rates and stock rotations sent a signal that we are in a “new act” for both the economy and market. If you indulge a former bunhead for a moment, this is what I mean: Most classical ballets start with a similar structure. The…
Given the surge in yields on this first trading day of the year, it may seem unnecessary and backward looking to talk about the drivers of lower yields way back in 2021. But an understanding of why we saw macro and markets seemingly diverge last year is important for setting…
The dynasty trust is the mother of all planning techniques. Its benefits and potential harm require serious thought and likely some soul searching. Because it enables the passage of assets across numerous generations 100% free of estate and git tax, the dynasty trust presents the ability to accumulate wealth unlike…
Chief Market Strategist, Cameron Dawson, joins CNBC’s Closing Bell to discuss the Growth vs. Value dynamic in equities and why Growth stocks could struggle if real interest rates move higher. Given the interest rate environment, she discusses where within Value there are attractive trends, as well as where challenges and…
Chief Market Strategist, Cameron Dawson, joins Bloomberg to discuss where we are in the economic and market cycle, how to position portfolios in 2022, the outlook for inflation and the state of supply chains. She discusses the importance of focusing on quality as we move into the current market cycle…
Investors have a lot to learn from surfers. Surfers know that they cannot change the conditions presented to them. They have no sway over the tides, the winds, the weather and the season, which all can cause large variations in waves. Instead of fighting their environment, surfers change their approach…
Many are unaware that there are actually five Versailles Hall of Mirrors in the world. The first is outside of Paris at the Palace of Versailles, built by Louis XIV, the Sun King, to evoke his absolute power. The second is a half-finished replica of Versailles on an island in…
Last Friday’s SARS-CoV-2 “variant of concern,” Omicron, rout sparked a lot of comparisons to March of 2020 over the weekend. It is difficult to predict the potential economic disruption given very little information on the variant (we know the variant has more mutations, critically in the spike protein that interacts with…
Chief Market Strategist, Cameron Dawson, joins Bloomberg TV to discuss the environment for cyclical manufacturing companies. She discusses why some companies are able to pass on higher costs through pricing power and while others could struggle with cost inflation in 2022, like higher wage costs. She discusses how slowing manufacturing…
Last week we raised the question if we could all be focusing too much attention on inflation as a risk, potentially missing other risks and opportunities present in markets. We used the lessons from Chabris and Simons’ “invisible gorillas” experiment to illustrate this question. Their experiment revealed the prevalence of inattentional…