Why Tactical Asset Allocation Matters Part II – Headwinds in Growth Rates – Ned Davis Research Group – 4.28.20

Summary:

Now On Demand.

Topics to be covered:

• NDR’s U.S. review of the stock market including what a bottom looks like and what factors and data is NDR watching to gauge opportunity and risk in the market today.
• Do future expected returns have headwinds? Can investors who are retired or about to retire expect future stock and bond investment returns to replicate what they have experienced in the recent past? What do various indicators tell us about projected longer term returns. Will future returns meet the funding and income needs of retires?
• Is the standard 60/40 benchmark the best allocation for any investor? Does increased equity exposure increase all categories of risk in a portfolio?
• Can Tactical Asset Allocation and a higher allocation to Growth provide investors with the best of both worlds – increased returns and a reduction of risk?

Speakers:

Ed Clissold, CFA, is the Chief U.S. Strategist for Ned Davis Research Group. He and his team are responsible for the firm’s U.S. equity, style, sector and equity theme analysis. They do so via a combination of a top-down analysis of the macroeconomic and fundamental environments and a bottom-up analysis of factors specific to the asset class, market cap, style, sector, or theme. He and his team also provide in-depth macro research on fundamental topics such as earnings, dividends, and cash flow.

Ed writes several U.S. Strategy publications, which provide an intermediate-term outlook on U.S. markets via a combination of top-down and bottom-up analyses. He also writes a quarterly Benchmarks report, which analyzes the attribution of returns across asset classes, sectors, market cap, and styles.

Ed’s market commentary is often quoted in The Wall Street Journal, Barron’s, and other financial publications.

Ed has held a number of other positions since joining the firm in 2002, including Global Equity Strategist, Senior Global Analyst in the Global Asset Allocation group, and Analyst in the Custom Research Services department. Previously, Ed worked at Strong Capital Management and as a Market Strategist at J.C. Bradford & Co.

Ed is a CFA charterholder, a Magna Cum Laude graduate in Economics from Transylvania University, and has earned his Masters in Business Administration in Finance, with distinction, from Indiana University (Kelley).

Robert C. Schuster, CFA, CMT, is the Senior Director of Research Content and Investment Solutions. Robert is a member of the NDR Senior Management Team. Robert manages and coordinates NDR’s broader research product strategy and packaging, and is responsible for the operational implementation of NDR’s research content output. Robert leads NDR’s ‘Investment Solutions’ business (e.g. Model Provider), from research development to partnership relationships with RIA’s, ETF providers, and other 3rd party partners for distribution of NDR model strategies to the market place.

Since joining the firm in 1989, Robert has held various positions including, Chief Operations Of cer (2004-2016), Managing Director of Custom Research Solutions (1995-2004), and Research Analyst for the Bond/Economic and Custom Research Solutions Departments (1989-1995).

Robert graduated with honors from the University of Illinois with a Bachelor of Science in Finance. Robert is a CFA charterholder and Chartered Market Technician. He is also a member of the CFA Institute, CFA Tampa Bay Society, Market Technicians Association (MTA), and American Association of Professional Technical Analysts (AAPTA). His paper on “S&P Group Lead Time Analysis” was published in the Market Technicians Association Journal.

Daniel Grioli is the Managing Partner of Guiscard Capital. Prior to co-founding Guiscard, he was a Portfolio Manager responsible for multi-asset investment strategy with an industry superannuation (pension) fund. Daniel’s responsibilities included developing the fund’s strategic and dynamic asset allocation strategies. He has also held senior investment positions with two other industry superannuation funds where he was responsible for manager selection and portfolio construction across all asset classes. Daniel holds a Bachelor of Business from the Royal Melbourne Institute of Technology and a Masters of Applied Finance from the Financial Services Institution of Australia.

Guiscard Capital is an independent firm providing investment advice and management for high-net-worth, family office and not-for-profit clients. Our goal is to maximize the value that we create for our clients by investing actively in opportunities only where we canfind an edge, reducing complexity and keeping costs low. Clients keep the majority of the returns generated by the assets that they own, which is how it should be. You can find out more at www.guiscardcapital.com.