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Forward Guidance
Martin Pelletier & Joseph Wang on Stock Market Concentration, Cash-Futures Treasury Basis Trade, Structured Products, and New York Community Bank
Feb 13, 2024
Financial analyst Martin Pelletier and economist Joseph Wang discuss topics such as stock market concentration, cash-futures treasury basis trade, structured products, and New York Community Bank. They analyze the impact of passive investing on tech stocks, address concerns about NYCB's earnings report, and explore levering up the basis trade in fixed income and treasuries. They also discuss the performance of regional bank stocks, the Canadian banking sector, and investment opportunities in the market.
01:11:05
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Quick takeaways
- Goals-based strategy can help achieve consistent returns by minimizing exposure to volatile market segments.
- Passive investing and benchmarking pressure have led to significant inflow of funds into large-cap technology stocks.
Deep dives
Navigating the Market Environment and Minimizing Variability for Retirement Clients
One of the main approaches taken by the speaker and their clients is a goals-based strategy, particularly for those in retirement or in later stages of working. The focus is on minimizing variability and aiming for a stable return of around 6-8% for a balanced portfolio. By avoiding heavy exposure to the market's more volatile segments, such as large-cap technology stocks, they were able to achieve consistent returns over a two-year period, outperforming certain market segments. They emphasize the importance of considering individual goals and risk tolerance when creating investment strategies.
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Discover
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Listen to the best highlights from the podcasts you love and dive into the full episode