James Hendries

NOVEMBER 3, 2022

First, investors may have begun to look beyond current inflation pressures and the Federal Reserve (Fed) monetary policy tightening cycle toward potentially better conditions in 2023. The market is always forward-looking, and asset prices tend to reflect what may happen months or quarters ahead.

Clients 52

Clients Asset Allocation Investment Advisor 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. The LPL Research S&P 500 year-end fair value target range remains 4,300—4,400, based on a price-to-earnings ratio (PE) of 18-19 and an earnings per share (EPS) forecast of $235 for 2023.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 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. Securities and advisory services offered through LPL Financial (LPL), a registered inv estment advisor and broker -dealer (member FINRA/SIPC).

Asset Allocation 52

Asset Allocation Marketing Marketing Assets 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 times the STAAC’s 2023 S&P 500 earnings per share forecast of $230. Insurance products are offered through LPL or its licensed affiliates.

Portfolio 52

Portfolio Taxes Government Investment Advisor 52

James Hendries

OCTOBER 7, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) upgraded its view of duration to neutral. times the Committee’s 2023 S&P 500 earnings per share forecast of $230. Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC).

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

SEPTEMBER 8, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) downgraded its view of emerging market (EM) equities in August. The LPL Research S&P 500 year-end fair value target range remains 4,300— 4,400, based on a price-to earnings ratio (PE) of 18-19 and an earnings per share (EPS) forecast of $235 for 2023.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

DECEMBER 4, 2022

In this week’s Weekly Market Commentary we share insights on publicly traded retailers, analyze their underperformance year to date, and look forward to 2023. Risks are rising for 2023 as consumers are likely tapping credit and personal savings to keep up spending habits. 12/2023).

Retail 52

Retail Marketing Marketing Sales 52

James Hendries

NOVEMBER 22, 2022

in May or June of 2023. In this week’s Weekly Market Commentary, we explore historical equity and fixed income market performance surrounding a Fed pivot, including the prospect for solid stock performance in the back half of 2023. Marc Zabicki , CFA , Chief Investment Officer, LPL Financial . Conclusion.

Marketing 52

Marketing Marketing Valuation Asset Allocation 52

James Hendries

NOVEMBER 15, 2022

However, the debate is heating up as investors begin to consider whether the pendulum will swing back to growth if inflation and interest rates decline in 2023. The LPL Research STAAC continues to favor a tilt toward value from an asset allocation perspective. Value vs. Growth – Value Takes 2022.

Marketing 52

Marketing Marketing Asset Allocation Valuation 52

James Hendries

AUGUST 15, 2022

The economy needs a stable and productive workforce to handle tighter financial conditions and growing uncertainty about 2023. 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. Conclusion.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

JULY 6, 2022

Interest rates have only come down because of recession fears, while inflation will still be elevated—even if somewhat lower—when the calendar turns to 2023 (unfortunately). As a result, we believe a price-to-earnings ratio of 18-19 on 2023 S&P 500 earnings estimates is reasonable. So a P/E over 20 is probably too rich.

Marketing 52

Marketing Marketing Valuation Economy 52