INVESTMENT MANAGEMENT
MOMENTUM
current reading
positive
MOMENTUM
One month of selling in equities is not enough to dampen what has been a strong year across size and geography. All major indexes exhibit favorable technical setups, holding positive upward trends with plenty of room to run before recovering all-time highs.
This small pullback may be a result of overexuberance, but investor sentiment surveys show that bullish attitudes have returned to a healthy level, which leaves our Momentum Dial in a Positive position.
ECONOMIC FUNDAMENTALS
current reading
negative
ECONOMIC FUNDAMENTALS
Economic data continues to be a mixed bag, reflecting the uncertainty over the direction of the economy. On the one hand, manufacturers worldwide are cutting orders in anticipation of a potential slowdown, and consumer survey data paints a pessimistic view of future activity.
That said, hiring continues to grow across most sectors of the economy, with workers pouring back into the job market looking to fill the 8.8 million open jobs in the US. On balance, our Fundamental Dial retains its Negative reading.
MARKET VALUATION
current reading
negative
MARKET VALUATION
Investing is more than just a comparison of stocks versus bonds. But, with stocks in the midst of a double-digit earnings decline while bonds are paying yields at multi-decade highs, the cost of owning equities now seems high.
According to Bespoke Investment Group, the post-COVID performance gap between stocks (+80%) and bonds (-11%) is the widest since March 2000. Stocks are once again “expensive” by our metrics, so our Valuation Dial reverts to Negative.
The shift in our Valuation Dial pulls our composite Three Dials reading back into a Moderately Defensive position, with two dials Negative and one dial Positive
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AROUND YOUR INVESTMENTS
DISCIPLINED RISK MANAGEMENT
Our investment philosophy, known as the “Three Dials”, factors in three primary indicators: Momentum, Economic Fundamentals and Valuation.
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The Three Dials provide a cohesive reading on the health, or “pulse” of the markets. The Dials provide a passive investment approach, with an active overlay. Each dial adjusts to data-driven indicators for maximized risk efficiency and an optimal allocation of diversified assets within your portfolio.
MONITORING AND REBALANCING
We conduct regular reviews to help ensure that your portfolio is aligned with your investment objectives and is appropriately positioned with the market environment.
TRANSPARENCY AND ACCOUNT AGGREGATION
We offer a secure digital dashboard that serves as a home to all of your connected financial accounts, so you have a complete view of where you stand financially at any point in time.
