May 23, 2022
Finally, some positive momentum in markets on this last Monday in May! Hopefully, that can continue, although the occasional rallies that have popped up this year were all eventually overwhelmed by the broader downtrend across financial markets. This past Friday (5/20), the S&P 500 fluctuated on the fringe of bear market territory; worries over a significant downturn proliferated and investors piled into bonds on growing growth concerns. This week, Phil takes a moment to remind listeners that market corrections are normal. The process by which markets return to normal, however, (a theme Ladenburg expected from markets this year) has been quite volatile, even painful for those market participants heavily allocated to tech and growth. Despite the inflation/interest rate cloud hovering overhead, the underlying economy is much stronger than the rout in risk assets would suggest. Tune in to how active management can help through this summer’s volatility and why Phil does not expect a recession in the near-term.