A Growing Disconnect between Politics and Markets

Paul Hennessy

My colleague, Wesley Phoa, argues that “the key to successful active management in periods of elevated uncertainty is not to stake everything on single-point forecasts. Rather, it is the ability to apply detailed policy analysis to a range of scenarios, and to maintain enough portfolio flexibility to respond rapidly and with high conviction as soon as uncertainty starts to resolve itself toward a specific outcome.”

The link provides more in-depth discussion around this thinking:

(VIEW LINK)


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