It’s clear that no one holds a crystal ball. Consequently, our goal is to help clients maintain a long-term focus and avoid the fruitless endeavor of market timing based on definitive short-term forecasts. What’s also clear is that the business cycle does exist, and therefore, we seek to identify periods when cyclical risks are rising or when a secular trend provides a particular investment opportunity. When our quantitative and qualitative economic analysis leads us to believe that cyclical risks are rising or falling, we recommend modest changes to our client portfolios that moderately reduce or increase risk accordingly. Similarly, when our in-depth research identifies long-term global investment themes, we advise our clients on how to take advantage of these opportunities within their portfolios.
A new PMFA Portfolio Blueprint for the first quarter of 2013 is now available via the link below: