Investment Insights Podcast: Demography is destiny

Tim Holland, CFA, Senior Vice President, Global Investment Strategist

On this week’s podcast (recorded May 29, 2018),
Tim discusses how population trends play a key role in determining a nation’s fate.

Quick hits:

  • If a nation wants to see its GDP grow year on year, it needs either more people entering the workforce or the workforce increasing its productivity.
  • Fortunately for the US, our nation’s population continues to grow at a rate greater than most developed nations and not that far shy of overall global population growth.
  • The US seems poised to benefit from a meaningful demographic tailwind courtesy of our nation’s Millennials.

For Tim’s full insights, click here to listen to the audio recording.

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Investment Insights Podcast: May 2018 market and economic outlook

Leigh Lowman, CFA, Investment Manager

On this week’s podcast (recorded May 11, 2018), Leigh provides a brief review of April markets.

 

Quick hits:

  • Higher market volatility persisted throughout April with risk asset performance mixed
  • The S&P 500 Index was up 0.4% for the month and down -0.4% year-to-date
  • Developed international equities as measured by the MSCI EAFE Index was up 2.4% in April and is outperforming domestic equities year-to-date
  • The Bloomberg Barclays US Aggregate Index was down -0.7% as fears of inflation and rising interest rates created headwinds for traditional fixed income securities
  • Overall we remain positive on risk assets over the intermediate-term as macroeconomic data continues to lean positive

Listen_Icon  Listen to the abbreviated audio recording.

Read_Icon  Read the full May Market and Economic Outlook.

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

 

Investment Insights Podcast: The 60/40 portfolio in a world of rising rates, falling bond prices & increasing volatility

Tim Holland, CFA, Senior Vice President, Global Investment Strategist

On this week’s podcast (recorded April 27, 2018),
Tim takes a closer look at the 60/40 portfolio, including how the past few years were particularly conducive to such an approach to portfolio construction and why we have likely just entered a more challenging period for this model.

Quick hits:

  • Over the past few years, both bonds and stocks moved higher in value, really an ideal – and unusual – environment for a 60/40 approach.
  • We think 2018 marks the beginning of a tougher road for the 60/40 portfolio.
  • We also think 2018 marks the beginning of a more favorable environment for Brinker Capital’s approach to portfolio construction and asset allocation.
  • We remain constructive on the outlook for both the economy and risk assets as we move through 2018.

For Tim’s full insights, click here to listen to the audio recording.

 

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Investment Insights Podcast: Investing a lump sum of cash

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Jeff Raupp, CFA
Director of Investments

On this week’s podcast (recorded April 20, 2018),
Jeff discusses the pros and cons of investing a lump sum immediately versus systematically investing an equal amount monthly.

Quick hits:

  • Almost 75% of the time an investor did better with the lump sum investment, with an average return after 12 months of about 8%, versus 4.2% for systematic investing.
  • A systematic plan may make sense for some, as it establishes a strategy for getting into the markets and takes emotion out of the equation.

For Jeff’s full insights, click here to listen to the audio recording.

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Performance returns source: Brinker Capital.
The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a registered investment advisor.

Investment Insights Podcast: As the first quarter comes to a close…


Andrew Goins
Investment Manager

On this week’s podcast (recorded March 29, 2018), Andrew reviews the markets as the first quarter comes to a close.

Quick hits:

  • January was very much a continuation of the momentum driven market of 2017, with the S&P 500 up 5.73% for the month, but that all changed as we rolled into February.
  • In addition to fears over trade wars and tariffs, a privacy scandal at Facebook as well as rhetoric around increasing regulation on mega cap tech companies has wreaked havoc on the FAANG stocks.
  • Despite the more recent weakness in the tech sector, growth stocks are still ahead of value so far this year.
  • We believe that active managers are positioned well to continue to take advantage of the higher volatility that is likely here to stay and should benefit as investors put a premium on quality and valuation.

For Andrew’s full insights, click here to listen to the audio recording.

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This is not a recommendation for Facebook, Amazon, Apple, Netflix and Google. These securities are shown for illustrative purposes only.

The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

President Trump, trade & the markets…Is it time to hit the panic button?

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Tim Holland, CFASenior Vice President, Global Investment Strategist

On this week’s podcast (recorded March 23, 2018), Tim discusses the Trump Administration’s trade policies and its impact on Brinker Capital’s portfolio positioning.

Quick hits:

  • Investors have been fixated on the Trump Administration’s trade policy. First, the proposed tariffs on steel and aluminum imports and now talk of much broader based action directed at China.
  • After rallying strongly off its February lows, the S&P 500 has been correcting on increasing concerns protectionist trade policies will torpedo consumer and corporate sentiment and spending, and ultimately the stock market.
  • We remain bullish on the economy and risk assets, including US stocks. Why? Simply put, the hard and soft economic data – or maybe said another way, reality, not rhetoric – tells us we should.
  • 4 BIG BOXES that help drive our thinking: fiscal policy, monetary policy, economic fundamentals, and sentiment.

For the rest of Tim’s insight, click here to listen to the audio recording.

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a registered investment advisor.

 

Investment Insights Podcast: 1 in 9.2 quintillion

Chris HartSenior Vice President

On this week’s podcast (recorded March, 16 2018), Chris talks about the parallels between March Madness and investing.

 

Quick hits:

  • Much like the task of filling out a perfect bracket, which currently stands at 1 in 9.2 quintillion, the chances of correctly predicting drivers of future returns is nearly impossible even for skilled investors.
  • Many have heard the term momentum in the stock markets, and behavioral finance will tell you that novice investors chase performance by allocating to last year’s winners under the guise that results for this year will be the same.
  • While picking the occasional upset is possible, most of the time fans are wrong relying on intuition or gut feel to pick an upset, and it costs them.
  • Brinker Capital knows how difficult it is to achieve successful outcomes, and has investment disciplines in place to help protect and build wealth over the long term.

For the rest of Chris’s insight, click here to listen to the audio recording.

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Investment Insights Podcast: March 2018 market and economic outlook

Leigh Lowman, CFA, Investment Manager

On this week’s podcast (recorded March 9, 2018), Leigh provides a brief review of February markets.

 

Quick hits:

  • Market volatility came roaring back in February with the VIX index surging to levels last seen in 2015 and washing out signs of complacency that were present earlier in the year.
  • The S&P 500 Index finished the month down -3.7% and is up 1.8% year to date.
  • Developed international equities underperformed domestic equities for the month.
  • Within fixed income all sectors posted negative returns.
  • Overall, we continue to remain positive on risk assets over the intermediate-term.

Listen_Icon  Listen to the audio recording.

Read_Icon  Read the full March Market and Economic Outlook.

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

 

Investment Insights Podcast: Fiscal policy takes the baton from monetary policy – What it means for the economy & risk assets

Tim Holland, CFA, Senior Vice President, Global Investment Strategist

On this week’s podcast (recorded February 23, 2018), Tim takes a closer look at US fiscal policy and how it might impact the economy and markets as we move through 2018.

Quick hits:

  • For now, we see fiscal policy as a net positive for economic growth and risk assets, particularly equities.
  • We also don’t see interest rates and inflation as a risk to the economy and markets.
  • We do think rates are biased higher, which is one reason we are conservatively positioned within fixed income.
  • Increased investor concern over higher rates and inflation is driving greater market volatility, something we all lived through earlier this month.

For Tim’s full insights, click here to listen to the audio recording.

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.

Investment Insights Podcast: The yield curve – What is it and why does it matter?

Tim Holland, CFA, Senior Vice President, Global Investment Strategist

On this week’s podcast (recorded January 26, 2018), Tim discusses a topic that’s been receiving significant attention from the media and investors, and that’s the yield curve.

 

Quick hits:

  • The yield curve is simply the spread or difference between the yield on the 10-year US Treasury Note and the 2-year US Treasury Note.
  • Usually, our economy is expanding and the yield curve is positively sloped.
  • Two forces typically cause the yield curve to flatten or invert: 1. the Federal Reserve raising the Fed Funds Rate, and 2. when investors continue to invest in the long end of the yield curve.
  • The yield curve has been flattening of late. So do we at Brinker think it might be signaling a recession?

For Tim’s full insights, click here to listen to the audio recording.

 

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The views expressed are those of Brinker Capital and are not intended as investment advice or recommendation. For informational purposes only. Holdings are subject to change. Brinker Capital, Inc., a Registered Investment Advisor.