May 29, 2020—Of all the asset classes available in which to invest, the nuances of investing in gold may be least appreciated. Gold is attractive as a long-term store of value or portfolio hedge, but it can also be extremely volatile, generates no income or organic growth, and involves storage costs. As a result, the case for gold in a portfolio is much more gray than black or white.
May 4, 2020— As investors turned part-time epidemiologists, we have been paying close attention to the trajectory of the COVID-19 disease, including growth in the number of new daily cases. There is evidence at the global and U.S. level that the so-called curve is being bent, though the U.S. curve is behind many other parts of the world and it has taken an unprecedented societal effort to do so.Some argue there is a light at the end of the tunnel, with U.S.
April 28—Chief Investment Officer Tony Roth is joined by Credit Suisse Managing Director and Chief U.S. Equity Strategist Jonathan Golub, and Wilmington Trust’s Head of Investment Strategy Meghan Shue, to discuss how the U.S.’ response to COVID-19 has impacted equity market valuation and stability, how the markets may fare in a less globalized society, and what sectors to consider, despite this contracting environment.Jonathan Golub, Managing Director, Chief U.S.
April 22, 2020—Highlights:We have reduced our exposure to real estate investment trusts (REITs) from an overweight to a neutral allocation.Risk assets like REITs and equities have staged a strong rally since March 23, but we expect a slow economic recovery, the risks around which do not appear to be properly appreciated by investors.We took the opportunity to sell REITs into relative strength to reduce overall risk in client portfolios.
April 21, 2020—Financial markets remain in turmoil, but the focus has shifted from the equity market to the oil market. This week, oil prices fell into negative territory, a phenomenon that would seem to make about as much intuitive sense as negative interest rates. Here we discuss what is happening and offer some perspective on the path forward for energy prices.What happened?On Monday, April 20, the May contract for West Texas Intermediate crude, the U.S.