Phil Toews’ Appearance on Cheddar TV
Read moreNote: Toews’ opinion regarding future GDP growth is not determinative.
Aiming to Bring the Quantitative and Qualitative back in Sync
Read moreRecent market turmoil followed by gains left some investors confused about where to go from here. Buying into risk assets after significant drops is never easy. The ability to move against intuition remains a critically important characteristic of our investment philosophy at Toews. High Yield Bonds Show Elevated Return Potential Returns in high yield bond models are primarily made up
Toews Fully Defensive in Q1 as Coronavirus became Global Pandemic
Read moreIn January, when cases of COVID 19 appeared to be increasing exponentially in Wuhan, financial markets around the globe began to react. After initially declining, stocks briefly rallied before beginning one of the most rapid and ferocious declines in history. Our strategies began to move to defensive positions on February 25, became fully defensive on March 3, and remained defensive
Phil Toews on TD Ameritrade Network’s Market Overtime show
Read morePhil Toews discusses positioning portfolios for adversity on TD Ameritrade Network’s Market Overtime show amid Coronavirus-related market turbulence.
Getting Real about the Possibilities Ahead
Read morePosition Update Toews remains fully defensive across all asset classes.i Additionally, certain equity-containing strategies hold aggregate bond positions, which have appreciated over the past month, even as stock prices have fallen. Markets fall and Uncertainty Spikes In New York City, where part of our team is located, the beginning reactions to COVID-19 are abundant. Companies, including our own, have issued
The Prospects for a Global Pandemic
Read moreAs equity and high yield bond markets decline in the face of a potential global pandemic created by the coronavirus, advisors and investors may be faced with the real prospect of a potential dramatic economic event that has already affected China and may be exported to the rest of the globe. We’re writing this to discuss Toews strategies in the
Risk Tracks Higher in 2019 as Investors See Gains
Read moreIn our last quarterly commentary, we discussed how difficult predicting recessions is, even for professionals. That was the case for the fourth quarter as markets and the economy stretched higher despite an inverted yield curve1, a lower September U.S. Manufacturing Purchase Managers Index2, and a drop in Consumer Sentiment in August3. Why? In our view, markets advanced because the Federal
Predicting Recessions is Hard and Often Unsuccessful
Read moreData continues to suggest that the U.S Economy is slowing. The September U.S. manufacturing purchasing managers’ index showed its lowest reading in 10 years at 47.8%i, as exports dived amid an escalating trade war. Consumers are also now expressing concern about the trade conflict. The University of Michigan’s Surveys of Consumers showed in September that a near-record number of consumers
