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Market & Portfolio Review: 08-26-20

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Stop Fighting the Recovery!

Successful investing is about positioning portfolios to succeed in the future, not the past. While COVID-19 continues to impact and challenge the world, successful investing will require us to look beyond the present, assess what the world will like in a post COVID recovery and what types of businesses are positioned to thrive in such a world.  

After a few weeks of consolidation, the portfolios reaccelerated to the upside this past week, as corporate earnings catch up to the expansion of forward earnings multiples. The companies we are invested in have successfully navigated COVID crises, and based on our work, are positioned to dominate the recovery. As of August 26th, the LPAM Tactical Opportunity portfolio has delivered growth of +59.88% net of fees vs. a +7.67% rate of return for the S&P 500 and a decline of -0.72% for the DOW Jones Industrial Average over the same time period.

In this week’s market update, we are going to review the historical impact of U.S. elections on stock market performance and whether the fear lives up to the hype. Second, we are going to assess the health of the stock market recovery by looking under the hood to measure how much of the stock market is participating in the recovery, along with a discussion over investor fund flows and what that historically means for stock prices. Lastly, our discussion will end with a review of the credit markets and what implied credit risk levels are telling us about the durability of the recovery.

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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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