Research

Investment Strategy
by Larry Adam
Chief Investment Officer, Private Client Group

Weekly Headings

February 14, 2020

Key Takeaways

Happy Valentine’s Day! I consider myself lucky to have four valentines: my wonderful wife and my three amazing daughters. I hope that whether you celebrate with cards, chocolate, flowers, or a candlelit dinner, that you’re able to spend the holiday with the ones you most care about. While red may be the color of the day, it’s a color investors have not seen from most asset classes over the last twelve months. For example, the S&P 500 rose ~26% and investment-grade bonds gained ~14%. However, just as in a healthy relationship, we cannot take this excellent performance for granted and become complacent about the future returns we expect to come our way. That is why we ‘wear our hearts on our sleeves’ and continuously provide investors with timely, thoughtful commentary on our views of the US economy and financial markets. This week’s insights include:

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All expressions of opinion reflect the judgment of Raymond James & Associates, Inc., and are subject to change. Information has been obtained from sources considered reliable, but we do not guarantee that the material presented is accurate or that it provides a complete description of the securities, markets or developments mentioned. There is no assurance any of the trends mentioned will continue or that any of the forecasts mentioned will occur. Economic and market conditions are subject to change. Investing involves risk including the possible loss of capital. International investing involves additional risks such as currency fluctuations, differing financial accounting standards, and possible political and economic instability. These risks are greater in emerging markets. Companies engaged in business related to a specific sector are subject to fierce competition and their products and services may be subject to rapid obsolescence. Past performance may not be indicative of future results.


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