James Hendries

AUGUST 15, 2022

Estimates for the second half of 2022 and 2023 have come down as expected, but with expectations so low, stocks generally rallied on results even as estimate were cut. Market-based interest rates those not controlled by the Fed—have come down quite a bit, supporting stock valuations.

Clients 52

Clients Marketing Marketing Valuation 52

James Hendries

DECEMBER 4, 2022

Retail sales data from the Census Bureau (we focus on the Retail Sales excluding Food Service, Autos, Building Materials, and Gas Stations statistics) has shown year-over-year growth, slow from the average mid-teens numbers seen in 2021, to a still healthy upper-single digits number in 2022 [Figure 2]. over the last 20 years, pre-2020.

Retail 52

Retail Marketing Marketing Sales 52

James Hendries

SEPTEMBER 27, 2022

The LPL Research Strategic and Tactical Asset Allocation Committee is increasing its recommended interest rate exposure in its tactical allocation from underweight to neutral. While we acknowledge that interest rates could move higher still, we think the risk/reward profile of adding to rate-sensitive fixed income assets has improved.

Asset Allocation 52

Asset Allocation Marketing Marketing Assets 52

James Hendries

OCTOBER 7, 2022

in September, temporarily breaking below the June 2022 closing low. The Strategic and Tactical Asset Allocation Committee (STAAC) upgraded its view of duration to neutral. It is also a major component used to calculate the price-toearnings valuation ratio. currency crisis also contributed to a tough month for stocks.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

AUGUST 23, 2022

Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. All index data from FactSet.

Marketing 98

Marketing Marketing Sales Economy 98

James Hendries

AUGUST 30, 2022

Estimated profit margins for the second half of 2022 did indeed come down as companies reported, but not dramatically so. The thought process for many was that earnings drop in a recession, so while 2022 profits may be near consensus estimates (our expectation), 2023 may see a profit decline. Conclusion.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

JULY 6, 2022

While we acknowledge that a V-shaped recovery is probably not in the cards and prior valuation targets no longer appear achievable, we remain constructive on equities for the second half, but not complacent. trillion more in checkable deposits on March 31, 2022 than at the end of 2019 before the pandemic. households held $3.2

Marketing 52

Marketing Marketing Valuation Economy 52

James Hendries

JULY 13, 2022

Increased equity exposure in tactical asset allocation from 62% to 65%. The Strategic and Tactical Asset Allocation Committee (STAAC) changed its recommended asset allocation for July, shifting from core bonds to small cap equities. It is also a major component used to calculate the price-toearnings valuation ratio.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

OCTOBER 18, 2022

But look for revenue growth and progress on inflation throughout 2023 to enable S&P 500 companies to at least match 2022 earnings—now tracking to $223—in 2023. But overall, we would expect modest estimate cuts to be received positively by markets, supported by lower valuations and depressed investor sentiment. Conclusion.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

AUGUST 15, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) made no changes to its recommended asset allocation for August. It is also a major component used to calculate the price-toearnings valuation ratio. We think the move lower in yields may be a bit premature as we expect the economy to stay out of a recession this year.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

SEPTEMBER 7, 2022

The difficult 2022 for stocks may not get much easier because as we now wait for better news on the inflation front, we have to contend with a seasonally weak month of September. Still, we could see potential upside for stocks over the balance of 2022. What’s Next? – August 22, 2022. Home Sales Fall (Again).

Marketing 52

Marketing Marketing Valuation Insurance 52

James Hendries

NOVEMBER 22, 2022

Recent wholesale inflation tells a similar story of a peak in pricing pressures, which has been the expectation of the Strategic and Tactical Asset Allocation Committee (STAAC) at LPL Research. Marc Zabicki , CFA , Chief Investment Officer, LPL Financial . How Midterm Elections May Move Markets – November 7, 2022.

Marketing 52

Marketing Marketing Valuation Asset Allocation 52

James Hendries

AUGUST 15, 2022

We won’t predict a soft landing, but there is a plausible scenario where a mild recession comes in 2023, the S&P 500 does not retest its June 2022 lows, and stocks are nicely higher in a year. We maintain our preference for equities over fixed income and cash in our recommended tactical asset allocation. Conclusion.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

NOVEMBER 15, 2022

The Strategic and Tactical Asset Allocation Committee’s (STAAC) S&P 500 year-end fair value target of 4,000-4,100 is based on a price-to-earnings ratio of 17.5 It is also a major component used to calculate the price-toearnings valuation ratio. times the STAAC’s 2023 S&P 500 earnings per share forecast of $230.

Portfolio 52

Portfolio Taxes Government Investment Advisor 52

James Hendries

OCTOBER 11, 2022

In addition, a major structural re-organization is in the planning stages that will involve sales of assets and spinning off parts of the international business. You may also be interested in: Markets on Watch as Xi Jinping’s Influence to Be Tested in October – October 3, 2022. How Much Higher Can Rates Go? – September 19, 2022.

Marketing 52

Marketing Marketing Banking Government 52

James Hendries

SEPTEMBER 13, 2022

You may also be interested in: September’s Calendar Cruelty for Stocks – September 6, 2022. Earnings Recap: Still Hanging In There – August 29, 2022. What’s Next? – August 22, 2022. Investing involves risks including possible loss of principal. Jeffrey Roach , PhD, Chief Economist , LPL Financial.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

SEPTEMBER 8, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) downgraded its view of emerging market (EM) equities in August. It is also a major component used to calculate the price-toearnings valuation ratio. Core bonds, as measured by the Bloomberg Aggregate Bond index, lost 2.8%

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

OCTOBER 25, 2022

You may also be interested in: Low Bar for Earnings Season Brings Third Quarter Expectations Down – October 17, 2022. Pockets of Vulnerability Magnified by Monetary Policy – October 10, 2022. Markets on Watch as Xi Jinping’s Influence to Be Tested in October – October 3, 2022. Click here to download a PDF of this report.

Marketing 52

Marketing Marketing Economics Economy 52

Bell Investment Advisors

MAY 24, 2024

On Friday, May 24 th at 12pm Pacific time, Investment Advisor & Financial Planner Laurent Harrison, CFP® joined Bell Portfolio Manager Ryan Kelley, CFA® for an engaging discussion of the following topics: Stock & Bond Market Commentary Global Economic Update Inflation Concerns & the Federal Reserve Are Stocks Expensive?

Marketing 52

Marketing Marketing Economy Financial Planner 52

James Hendries

NOVEMBER 1, 2022

You may also be interested in: Three Things to Know About Recessions – October 24, 2022. Low Bar for Earnings Season Brings Third Quarter Expectations Down – October 17, 2022. Pockets of Vulnerability Magnified by Monetary Policy – October 10, 2022. Investing involves risks including possible loss of principal.

Marketing 52

Marketing Marketing Manufacturing Economy 52

James Hendries

NOVEMBER 8, 2022

These runoffs do happen: In 2022 both Georgia Senate seats went to a runoff, as did Georgia Senate election in 1992 and 2008. Barry Gilbert , PhD, CFA, Asset Allocation Strategist, LPL Financial. You may also be interested in: Federal Reserve Preview: TRICK or Treat? – October 31, 2022. All index data from FactSet.

Marketing 52

Marketing Marketing Government Banking 52

James Hendries

OCTOBER 4, 2022

Since early 2022, as cracks in the real estate market became more severe, Moody’s downgraded 91 high-yield Chinese property developers. At the end of September, the World Bank downgraded its 2022 economic growth projections for China to 2.8% Global investment banks are also lowering their GDP estimates. IMPORTANT DISCLOSURES.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

SEPTEMBER 20, 2022

What was once thought of as a conservative investment has turned out to be anything but conservative this year. 2022 will go down as the worst year for bonds ever. You may also be interested in: Getting Jobs Market Back into Balance – September 12, 2022. September’s Calendar Cruelty for Stocks – September 6, 2022.

Marketing 52

Marketing Marketing Economy Economics 52

Bell Investment Advisors

MARCH 15, 2023

I’m a portfolio manager here at Bell Investment Advisors. The first is 2022 investment performance. Then, I’m going to be discussing inflation and interest rates and how those affect the value of your investments. Slide 4: 2022: U.S. Slide 5: 2022 in Review: Bonds 08:47 Onto bonds. stock market.

Marketing 52

Marketing Marketing Investing Investments 52

James Hendries

AUGUST 15, 2022

The index rallied 11% in March 2022 before turning lower again. We maintain our year-end 2022 fair value S&P 500 target range of 4,300-4,400 with upside above that range in a soft landing scenario. Investing involves risks including possible loss of principal. on average). Click here to download a PDF of this report.

Marketing 52

Marketing Marketing Economy Valuation 52

The Big Picture

FEBRUARY 6, 2024

So it’s, 00:09:11 [Speaker Changed] You’ve become an enterprise, it’s 10 x what it once was in terms of headcount, it’s much bigger in terms of assets. 00:15:23 [Speaker Changed] Yeah, so we think about quality, first off, the ability to deliver high returns on investment going forward. Are you prudent?

Valuation 130

Valuation Investing Investments Assets 130

Cornerstone Financial Advisory

JANUARY 3, 2023

The December report showed the confidence of large asset managers in investing in risk assets, like stocks, has dropped over the past two months, explaining, in part, why stocks may have struggled of late. Source: Econoday, December 30, 2022 The Econoday economic calendar lists upcoming U.S. IRS.gov, July 7, 2022.

Marketing 59

Marketing Marketing Taxes Economics 59

James Hendries

JUNE 26, 2023

However, the impending end of the Federal Reserve (Fed) rate-hiking campaign, and the economy’s and corporate America’s resilience, help make the bull case that steers LPL Research toward a neutral, rather than negative, equities view from a tactical asset allocation perspective. Investing involves risks including possible loss of principal.

Marketing 52

Marketing Marketing Asset Allocation Valuation 52

James Hendries

MARCH 6, 2023

in 2022— to a more sustainable rate that neither stokes inflation nor stalls economic growth. Higher interest rates are challenging stock valuations and perhaps pushing the gains further out in 2023, but we still see solid potential for double-digit returns for stocks this year. What Does This Mean for You? in 2021 and 2.1%

Marketing 52

Marketing Marketing Economy Economics 52

Walkner Condon Financial Advisors

FEBRUARY 6, 2024

As these tables can take a while to be published or readily available, let’s for now break the past twenty years of available market data into two 10-year periods: 2003-2012 and 2013-2022. Large Cap Stocks were the best performing asset class of all nine categories three times and finished second twice. Large Cap, Developed ex-U.S.

Assets 59

Assets Investing Investments Marketing 59

James Hendries

JANUARY 31, 2023

It also worth noting that with the broad market slipping nearly 20% last year, this gain still would not get the market back to the 2022 high set on January 3, 2022. Investing involves risks including possible loss of principal. Indexes are unmanaged statistical composites and cannot be invested into directly.

Marketing 52

Marketing Marketing Valuation Insurance 52

Cornerstone Financial Advisory

MARCH 6, 2023

The IRS considers various circumstances when reviewing OIC applications, including the applicant’s: Income Expenses Asset equity There is also an application to apply for an OIC. IRS.gov, October 18, 2022 6. The return and principal value of investments will fluctuate as market conditions change. a Registered Investment Advisor.

Marketing 59

Marketing Marketing Taxes Economics 59

Cornerstone Financial Advisory

APRIL 17, 2023

As a business owner, you will need to keep track of supporting documents such as: Purchases Sales Payroll Sales slips Paid bills Invoices Receipts Deposit slips Canceled checks Travel, transportation, entertainment, and gift expenses Assets Keeping your records well-organized will save you time, effort, and money. IRS.gov, August 8, 2022 7.

Marketing 59

Marketing Marketing Medical Economics 59

James Hendries

JANUARY 20, 2023

pace in the third quarter of 2022, while Europe has held up better than we anticipated, thanks in large part to falling natural gas prices. Using the S&P 500 as the investible universe, a hypothetical long-only portfolio is constructed of the top quintile (top 20 percent) of stocks’ estimate revisions composite score.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

JANUARY 26, 2023

Background: The global economy will likely slow from the upper-2% range in 2022 down to slightly above zero in 2023 ( Figure 1 ). Interest rates move higher along with the dollar, weighing on risk assets. Investing involves risks including possible loss of principal. If the U.S.

Marketing 52

Marketing Marketing Economy Economics 52

WiserAdvisor

NOVEMBER 16, 2022

At the end of the day, knowing how much to invest is all about balancing your financial priorities. What are the best assets to invest in? This is one of the most common investment questions that even experienced investors ask. Securities and Exchange Commission (SEC) or any other government agency.

Financial Advisor 52

Financial Advisor Investing Investments Portfolio 52

Bell Investment Advisors

JUNE 29, 2023

My name is Laurent Harrison, Senior Investment Advisor and Financial Planner. So, they were investing long-term, and their liabilities were short-term [in] nature. What happened was, when interest rates rose, the value of their portfolio of long-term assets declined. So, high interest rates suppress asset prices.

Marketing 52

Marketing Marketing Banking Numbers 52