ISA 2021

The macroeconomic, political, and social outlook that sets the stage for investment plans and strong performance are the focus of the Investment Strategy Annual. The pandemic and the ensuing global recession raise the importance and difficulty of these tasks. Even as vaccine distribution gets underway, it will be many months before inoculations are readily available to the general public and economies are restored to their prior strength. During this COVID-19 end game, our advice to investors is to focus on these five themes:

1. Expect the dispersion of returns to continue

2. Invest in the rise of alternatives

3. Anticipate changing mobility and density preferences

4. Differentiate and separate permanent changes from temporary shifts

5. Balance three styles: growth, income, and dislocation

Jacques Gordon