To download the slides mentioned in this episode, click here or send us an email at [email protected].

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In this episode, Philip Straehl and Edward Fane share their views on aggregate reward for risk in markets today and discuss some of the asset class convictions that our investment team has developed over the past quarter. These convictions encompass our valuation-driven perspective on reward for risk at the asset class level and are used by our portfolio managers when allocating capital and sizing positions in their portfolios.

Philip is head of capital markets & asset allocation for the Americas, and Ed is a portfolio manager and the global lead for Americas fixed-income research at Morningstar Investment Management.

Global stock markets this year have gone through a dramatic sell-off and recovery in record time. Perhaps more importantly, we’ve seen a significant decline in economic activity since February, likely marking the onset of a recession. In this episode, Daniel Needham and Philip Straehl look at past recessions and compare them with the current environment. We consider what past market recoveries have looked like and discuss how our investment team is considering these lessons from the past to uncover potential long-term opportunities today. Daniel Needham is president & global CIO, and Philip Straehl is head of capital markets & asset allocation, Americas, at Morningstar Investment Management. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com

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George Metrou, portfolio manager for the Dividend Select Equity Portfolios, talks about the poor performance of dividend-paying stocks so far in 2020, despite their reputation for being defensive. He also discusses why he holds cash, his thoughts on companies cutting dividends, and his outlook for income going forward. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com

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John Caserta grew up in North Haven, Conn., where he’s now a Chartered Financial Consultant and managing director at Caserta & de Jongh LLC. His second office is in New Haven, home to his alma mater, Yale, where he studied Italian and played trumpet in concert and jazz bands. His frequent media appearances and alumni connections are helping him grow his practice. Listen to hear Caserta share the most underrated piece of financial advice. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com

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Find slides referred to in this episode at https://morningstaronline-my.sharepoint.com/:b:/g/personal/drew_carter_morningstar_com/ERJNlLpWN0xItcK6zzHH7-8BSz2imrSKymOTc-3U7Bqc8A?e=OmDV7c

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Sarah Newcomb, director of behavioral science at Morningstar, Inc., discusses emotions brought on by market loss, talks about how they can affect decisions, and offers some ways to cope. Ryan Murphy, head of decision sciences at Morningstar Investment Management, discusses cognitive biases to watch out for and ways investors can make better decisions. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com

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Kevin Schaefer coaches clients to plan for the worst, and to be content. An obsession with money distorts smiley faces into ones with dollar-sign eyes and a squiggly mouth because it often leads to aggressive investing that's like being on a roller coaster. A smoother ride, he says, keeps "a simple smile on your face."

Schaefer, a CFP and founder at Spirit West Certified Planning, LLC in Scottsdale, Arizona, says, "There aren't enough contrarians" paying attention to risks embedded in passive index-linked investments. "I'm hoping that trend (toward passive) will break and people will get back to basics." 

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Portfolio managers Dan McNeela and Michelle Ward talk about positioning in our Asset Allocation managed portfolio series and their outlook for key asset classes.

To view the slides for this episode, please click here. The slides will be available until July 22, 2020. After that date, please email [email protected] for access.

For more information about Morningstar Managed Portfolios, click here.

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