Host Ethan Astaneh, Nicola Wealth Financial Advisor, speaks with Chief Investment Officer Rob Edel to provide a market commentary on Q3 2019.

Rob provides a market update and discusses factors that are impacting markets leading to slowing global growth, including the continuing trade war, the upcoming U.S. election and the policy uncertainty that comes along with that outcome. 

Key Takeaways:

[:55] Ethan welcomes Rob back to the podcast.

[1:14] Rob provides a recap and an update on the situation between the U.S. and China and the status of the trade tensions.

[3:43] What Rob has been paying attention to in the last few months in regards to key economic indicators to identify the health of the global economy.

[5:18] Does Rob view the timing of a recession being influenced by what’s happening in the interest rate cycle?

[6:22] Does Rob think that if we continue to stay in this low interest rate environment that a recession would be less imminent?

[8:02] Rob elaborates on why investors should be careful to not be too bearish in their stance as to not de-risk their portfolios too much in anticipation of a recession.

[9:09] Are there any developments that Rob has identified as issues that markets wouldn’t exactly be very good at pricing in or, with there being so much uncertainty around them, that it would be too difficult to do so?

[10:45] As we navigate forward, what type of considerations will drive how we’re positioning with regards to stock market investing? Is this a time to be focusing on the defensive sectors or is there a more preferable approach to take?

[11:42] Rob speaks about how yield-oriented investments would generally function as we transition into and through a recession (and why we hold onto them.)

[12:42] Rob gives his predictions on some of the key economic things that Canada will be facing over the next several years considering the approaching election.

[14:12] Would it be a fair statement to say that negative interest rates are still largely a conceptual construct?

[15:25] Rob gives his thoughts on the evolving area that is climate change.

[17:20] How Rob sees the next several months panning out from the perspective of the trade war and what certain outcomes in the U.S. election might mean.

[19:10] Rob speaks about the role that private assets have in a portfolio (as opposed to publicly traded assets) and the value of holding those types of assets.