Our strategy is always agnostic to the loudest (or “smartest”) point of view. For instance, we touched on the stock bulls who are pointing to an accommodative Fed and strong employment here in the U.S. We also looked at the bond advocates who argue that things may be good, but they are getting worse, not better. We won’t pick a horse in the race, making money instead by owning asset classes in an uptrend, but selling and holding significant cash positions when the trends are all down.
We hope it has been a terrific summer for you.
Terri Spath, CFA, CFP, is chief investment officer and portfolio manager at Sierra Mutual Funds.