Part I of our annual, exclusive interview with Evercore ISI’s legendary economist, Ed Hyman and BlackRock Global Allocation Fund’s Dennis Stattman on the state of the U.S. economy and markets.
WEALTHTRACK Episode #1229; Originally Broadcast on January 08, 2016
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According to The Wall Street Journal the first four days of this week have been the worst start to a new year ever for the Dow and S&P 500. As of Thursday’s close the blue chip Dow is down 5.2% and the S&P 500 has fallen 4.9%.
Proving that we do indeed live in an interconnected world, most analysts point to China as the primary culprit for the global market sell off. The Chinese stock market fell 7% on both Monday and Thursday triggering new circuit breakers which shut down trading. Fears are building that the world’s second largest economy is slowing more than expected, that the People’s Bank of China will continue to devalue the yuan and that the government is once again proving inept in overseeing its financial markets. The net result is Chinese and foreign investors are fleeing Chinese stocks.
This week, we are excited to bring you Part One of our annual Economic and Market Outlook edition. As we have for 10 of the 11 years since launching WEALTHTRACK, we have an exclusive television interview with legendary economist Ed Hyman.
Hyman, who is Chairman of Evercore ISI, holds the record for being voted the number one economist by Institutional Investor magazine for an unprecedented 35 years, a feat no one comes even close to duplicating. His famous daily reports and charts are considered to be must reads by Wall Street.
We are also delighted to have another WEALTHTRACK regular make a rare television appearance with us this week. Great Investor, Dennis Stattman is the long time Portfolio Manager of the Blackrock Global Allocation Fund, which he launched in 1989. Since then, the broadly diversified fund, which invests in stocks, bonds and other securities around the world has delivered equity like returns with much less than stock market volatility. The fund is a Morningstar favorite and the sole gold medalist in the world allocation category.
This week our focus will be the U.S. economy and markets. We will find out why Hyman remains optimistic about U.S. growth and Stattman is considerably underweight U.S. equity markets.
As always, if you can’t join us to watch the show on your local public television station, you can view it on WealthTrack.com. If you’d like to see the show before it airs, it is available to our PREMIUM subscribers right now. If you have comments or questions, please do connect with us via Facebook or Twitter.
Have a great weekend and make the week ahead a profitable and productive one.
REVIEW YOUR RISK TOLERANCE FOR THE U.S. STOCK PORTION OF YOUR PORTFOLIOS
STATTMAN: EXAMINE RISK TOLERANCE FOR U.S. STOCKS
- Time to be careful
- Put some money in cash,
- Treasury Inflation-Protected Securities (TIPS)
- Look overseas