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Market & Portfolio Review: 10-22-20

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The U.S. Consumer Strikes Back

With everyone paying attention to the U.S. election, the more interesting backstory that is beginning to take shape is the remarkable recovery of the U.S. consumer. As the media continues to pay attention to COVID case counts, stimulus negotiations, and of course, the U.S. election, U.S. consumer incomes are rising, credit scores are recovering, unemployment claims are at cycle lows, and believe it or not, U.S. consumer wealth is close to recovery highs.

The bottom line is that the divergence between pessimistic sentiment and positive real data is creating an excellent moment to invest for the nimble investor. As a result, we are positioning client portfolios in companies that stand to benefit from the return of the U.S. consumer.

In this week’s market update, we will review market symptoms ahead of the U.S. election to assess any hidden risks, as well as potential areas of opportunity. Specifically, we want to measure the breadth of the U.S. stock market to see if more or less stocks are participating in the rally and which sectors are leading the charge. Second, the presentation will take viewers through our valuation framework by not just looking at assets on an absolute basis but using a relative valuation framework to review current and prospective investments. Lastly, we will wrap things up with a credit market and economic health check.

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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