Investing is NOT gambling; done right, it involves thoughtful portfolio construction – incorporating objectives with capital market assumptions influenced by the current environment and expectations going forward. But sometimes gambling is afoot in the markets.
A few days ago, the S&P 500 reached a level in which it was down less than 10% compared to its all-time high. It’s been a little weaker since then, but still an incredible rally from the lows of mid-June. The S&P has risen +17%, Nasdaq +22% and TSX +11%.
In this week’s Ethos, we look at future uncertainty and the Fed’s influence before considering their impact on portfolios.
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