Capital Perspectives February 2019

Tony Roth |
Investment Management
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In the February issue of our monthly flagship publication, we feature:

On the Record by Chief Investment Officer Tony Roth, where he talks about the recent bounce in stock markets and what it—as well as the preceding drop—indicates for the positioning of your portfolio, whether it reflects problematic economic fundamentals, and if it signals a coming recession.

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Understanding the Volatile Stock Market

Tony Roth |
Wilmington Wire
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February 4, 2019—Financial markets have been quite volatile over the past four months, with the S&P 500 down almost 20% from September to December of 2018 on concerns about politics, the Federal Reserve, and global growth. During that time—as is our modus operandi when the headline noise risks overwhelming all other considerations—we kept our focus on economic fundamentals and maintained the view that the U.S. equity market was not reflecting those fundamentals.

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The Fourth Industrial Revolution: Digital, data, and debt disruption

Tony Roth |
Investment Management
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Our 2019 forecast for markets, economies, and portfolios.Horizontal digitization of technology across economic sectorsLabor productivity’s race against the clockRates and the global debt super cycleTwenty years ago, MSCI and S&P Dow Jones indices developed the Global Industry Classification Standard and defined sectors and industries for the equities market more or less as we know them today.

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