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Market & Portfolio Review: 08-12-20

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We're Just Getting Started

For as much as we talk about long term fundamentals, investment psychology remains the largest factor that ultimately determines long term investment success. We often talk about the fear of loss during scary times like the March bear market or the 2008 global financial crises, but the reality is that the fear of giving up our gains is just as powerful of an emotion that can lead to us to prematurely reducing our exposure during the early innings of a bull market. 

Our work suggests that we are in the second inning of this bull market recovery, so the message is that we’re just getting started with this recovery, and we see an attractive long term investment landscape over the next 3-5 years. Now is the time to opportunistically invest in America’s best and brightest companies, that are going from good to great over the next decade. 

In this week’s market update, we are going to study the current stock market recovery and compare the price action, investor sentiment, and overall rhetoric with that of the 2009 stock market lows. Our goal is to understand what history suggests about the sustainability of current market gains and, just as important, the prospects for future growth after periods of strong performance of a bear market bottom. We are going to review the recent asset rotation away from areas of secular growth and toward cyclical junk stocks, and how we expect this to impact client portfolios. Lastly, we will review the health of the credit markets along with an update on corporate earnings, one month into reporting season. 

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The information here is presented by licensed professionals and not specific to any individual’s personal circumstances. Investment advisory services offered through LifePro Asset Management, LLC, a registered investment adviser. Investments involve risk and are not guaranteed. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy will be profitable or equal any historical performance. Discussion of any specific stocks are based on objective, non-performance criteria and such discussion neither serves as a recommendation nor as the receipt of, or a substitute for, personalized advice. Due to various factors, including changing market conditions, such discussion of positions and/or recommendations may no longer be reflective of current position(s) and/or recommendation(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from Advisor, or from any other investment professional. Forward-looking statements such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” are based on management’s views and assumptions at the time such statements were originally made and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. LifePro Asset Management does not undertake any obligation to correct or update any forward-looking statements on the LPAM Site.

Robert Reaburn

Robert Reaburn

Robert Reaburn is the Executive Vice President and Head of Wealth Management at LifePro Asset Management. He works with financial advisors building diverse financial portfolios that best empower their clients with a lifetime of financial security.

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