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Market & Portfolio Review: 10-22-19

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The Dash for Trash

In this week’s edition of the LifePro Asset Management Market & Portfolio Review, our head of Wealth Management, Robert Reaburn, reviews the recent rotation away from durable growth stock and into stocks with broken business models. More importantly, we will discuss the dangers of trying to pick the bottom on broken businesses and why staying focused on high quality businesses that are good, and getting better, can position clients for durable long-term growth.

Robert also reviews the evolving economic growth picture in the U.S. and what that means for portfolio positioning as we look to close out 2019. Additionally, we will examine the U.S. consumer, and what the current trends in job growth, compensation, and perceived job security tell us about the propensity of the U.S. consumer to increase their level of spending as we head into the holiday shopping season.

We also review the recent steepening of the yield curve, why it’s happening and what it says about possible adjustments to economic forecasts by Wall Street economists over the next few weeks. Lastly, we review the level of liquidity in the credit markets, the expansion of the Federal Reserve balance sheet, and the impact that an increased level of money supply may have on risk appetite moving forward.

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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