"To acquire knowledge, one must study; but to acquire wisdom, one must observe."
- Marilyn Vos Savant
Uncertainty is the often the biggest headwind to economic activity, valuations, and investor sentiment. A clear election outcome eased one key uncertainty while the prospects of a pro-growth agenda and light positioning catalyzed the market response. Of course, the efficacy of any new policy, and its impact on central inputs like earnings and economic growth, will need to be closely monitored. While trends across our analytics remain broadly supportive, variability in asset prices should increase going forward. How should investors position for the new administration? Are there any new catalysts or concerns? As always, we defer to our technical, fundamental, and macro disciplines to assess the risks and guide our outlook. Click to read the full November BakerAvenue Prudence Indicator (BAPI) commentary and view the market update video from BakerAvenue’s Chief Investment Officer, Doug Couden, CFA.
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