July 21, 2022
By Vanessa Wieliczko, CFA, CAIA, CFP®
Chief Investment Officer, HoyleCohen
Please click here to view a full recording of our recent Quarterly Economic & Market Review featuring Jordan Jackson, Global Market Strategist at JP Morgan Asset Management and click here for a downloadable pdf of his slide deck.
A REFECTION ON OUR RECENT MARKET & ECONOMIC DISCUSSION
The first half of 2022 has been a challenging market environment with the S&P 500 down more than 20%, and bonds down more than 10% on expectations of rising rates. There is a growing list of concerns including inflation via the rising price of goods and services, as well as the cost of labor. The response from the Fed has been a telegraphed hawkish message of tighter monetary policy. Inarguably they’re walking a fine line between taming inflation and risking stalling economic growth, putting the economy into a recession earlier and deeper than necessary. However, strong consumer and corporate balance sheets, and a healthy job market suggest the hit to growth could be moderate.
We will maintain discipline, taking opportunities to rebalance and tax loss harvest where appropriate. When deploying large allocations of cash we will dollar cost average, buying in multiple tranches over several months. Our Investment Committee continues to reassess asset allocation decisions in light of evolving data, yet remains focused on long-term investment decisions.
As always, we appreciate your confidence and support as we seek to build portfolios for the long run. If you or someone you know would benefit from speaking with a HoyleCohen Advisor, we encourage you to reach out.
Sincerely,
Vanessa Wieliczko, CFA, CAIA, CFP® & the teams at HoyleCohen
Your Hosts:
Jordan Jackson
J. P. Morgan
Jordan Jackson, is a Global Market Strategist on the J.P. Morgan Asset Management Global Market Insights Strategy Team. Jordan is responsible for delivering timely market and economic commentary to clients across the country and has appeared on Bloomberg, CNBC and MarketWatch. He has authored several papers on the economy and markets, with a focus on public fixed income and monetary policy, and is often quoted in the financial press. In addition, Jordan is responsible for conducting research on the global economy and capital markets as well as publications such as the Guide to the Markets and Weekly Market Recap.
A J.P Morgan employee since 2015, prior to his role on Global Market Insights, he worked on the Global Consultant Strategy Group based in New York where he was responsible for serving the investment needs of institutional asset management consultants in North America and Canada. He earned a B.A. in African-American Studies from the University of Virginia and holds Series 7 and 63 licenses. He is a CFA Level II candidate.
Vanessa Wieliczko, CFA, CAIA, CFP®,
Chief Investment Officer, Partner
HoyleCohen, LLC
Vanessa Wieliczko oversees the firm’s investment department and leads the Investment Committee. She joined HoyleCohen in 2008 and helped develop the firm’s CorePlus approach, a unique blend of traditional and alternative assets. Vanessa holds a Bachelor’s degree in business administration and management with a concentration in international finance from Boston University.
Driven in pursuit of excellence, Vanessa obtained her Chartered Financial Analyst, Chartered Alternative Investment Analyst, and Certified Financial Planner designations all before turning 30. Active in the community, Vanessa serves on the board as President of the CFA Society San Diego, a group of more than 500 investment professionals.
Compliance Disclosure
HoyleCohen is a fiduciary acting on behalf of our clients. We are a fee-based investment advisor and do not receive commissions for any investment strategies of products that may be discussed. This discussion is intended for informational purposes only. No decisions regarding investment strategies should be made based solely on this presentation and nothing shared should be interpreted as investment advice. Any investment decisions should be discussed with your Advisor. Finally, all investments carry the risk of loss, including the permanent loss of principal and past performance is not a guarantee of future results.
