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August 2019 Investment Changes Summary

AUGUST 2019 UPDATES

  • Volatility has once again increased with international trade uncertainty being the largest factor. We anticipate that could be the case for much of the rest of 2019 and even into 2020.  We believe trade, the Fed, and corporate earnings are the major 3 factors in the equity markets right now--with trade trumping the overall steady fundamentals and generally positive (albeit unspectacular) earnings being reported.
  • August 2019 Portfolio Changes: We continue to tilt towards more value-oriented equity funds which we believe fits with the above analysis and where we are at in the economic cycle.  With the Fed making July interest rate cut and indicators of future rate cuts, we have shifted our bond portfolios from shorter to more intermediate duration and high-quality focus.

OUR PROCESS

As you know, we follow a disciplined and diversified asset allocation process to building our portfolios. We believe in long-term investing, not short-term speculation. We lean on our LPL Research team of 50+ professionals for ongoing asset allocation and fund screening. (Remember, LPL offers no proprietary products, which enables us to make objective decisions.) Then, we utilize a secondary screening through Morningstar (a third-party investment research company) for another layer of due diligence. We are, after all, geeks at heart.

DISCLOSURE

Securities and Advisory Services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. Stock and mutual fund investing involves risk including loss of principal. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification and asset allocation do not protect against market risk. Value investments can perform differently from the market as a whole. They can remain undervalued by the market for long periods of time. Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price.

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