LEADING STRATEGIST JASON TRENNERT IS UNCHARACTERISTICALLY BEARISH. HE EXPLAINS WHAT’S CHANGED

December 16, 2022

Part 1 of 2

A major theme for WEALTHTRACK in 2022 and will be in 2023 is what a difference a year makes. 

  • We’ve gone from lower for longer inflation to stunning acceleration,
  • Historically lower for longer interest rates to rapidly increasing ones, 
  • History-making monetary stimulus to rapid withdrawal, and
  • Liquidity-driven speculation in financial assets to risk aversion.  

With the exception of energy stocks, the market has taken a hit pretty much across the board.   

What further impact will these mega changes have on the economy and markets, and what will they mean for investors? 

Trennert and the Strategas team turned uncharacteristically bearish early this year when they realized how seriously the Fed was going to treat the rapid rise in inflation. (In yesterday’s press conference following the FOMC meeting, Federal Reserve Chairman Jerome Powell gave every indication the Fed remains committed to its anti-inflation policies.) 

In this weekend’s episode, Trennert explains the ongoing pressures on the economy and markets and why there is more market pain ahead.

The ancient Greek philosopher Heraclitus said, “There is nothing permanent except change.” Charles Darwin certainly observed that in his trailblazing work on evolution more than 2000 years later. In a quote widely attributed to him, he is alleged to have commented, “It is not the strongest of the species that survive, nor the most intelligent, but the one most adaptive to change.”     

As the markets fluctuate around us, how much should investors change?

WEALTHTRACK Episode #1925 broadcast on December 16, 2022
Listen to the audio-only version here:

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JASON DE SENA TRENNERT

  • Co-Founder, Chairman & CEO,
  • Chief Investment Strategist,
  • Strategas, a Baird Company

ACTION POINT

READ MANIAS, PANICS, AND CRASHES: A HISTORY OF FINANCIAL CRISES BY ROBERT ALIBER AND CHARLES KINDLEBERGER 

  • First authored by Kindleberger in 1978
  • Reissued many times since with updates
  • Edited by noted economist & friend, Robert Aliber
  • Never lost relevance because financial crises occur with disturbing regularity

ONE INVESTMENT

TRENNERT’S ONE INVESTMENT PORTFOLIO 10/20/2021

  • Albemarle Corporation (ALB) 
  • The Energy Select Sector SPDR® Fund (XLE).
  • iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT)

ONE INVESTMENT 2022: 

GROWING DEFENSE INDUSTRY

BUY LOCKHEED MARTIN CORP (LMT)


BOOKSHELF


STOCK MENTIONS

Albemarle Corporation (ALB) 

The Energy Select Sector SPDR® Fund (XLE)

iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT)


FROM THE ARCHIVE

Jason Trennert from the WEALTHTRACK Archives:


WEB EXTRA

RELEVANT INVESTMENT CLASSICS

What can investors learn from history? A great deal, says Jason Trennert, who recommends two investment books particularly suited to our time.


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