What a year - 2020! The market achieved record highs near year-end despite a collection of intertwined seismic events during the period - the worst global pandemic in a century, resulting in profound changes in our way of life, massive reactive policy shifts, presidential election controversy, “warp-speed” medical innovations, the most rapid materialization of a bear market on record, and among the largest and most rapid market recoveries in history. Yet, with the recent development and distribution of vaccines, accommodative and stimulative policies around the globe, and the likelihood of a divided US government; there looks to be light at the end of the tunnel and the prospects for global economic recovery appear to be on the upswing setting the stage for a constructive and hopefully more normal 2021. While the market ended up for the year, 2020 was marked with intense volatility. Reacting to the most profound health crisis in a century, the year featured the onslaught of the most rapid “bear market” (a decline of 20% or more) on record. Blackrock research sites that in just 23 trading days following the market hitting new highs on February 19, the S&P 500 declined 34%! In March alone the market was up or down more than 4% eight separate times! In comparison there were only 6 such days in 1929 during the Great Depression, and the annual average of plus or minus 4% days over the past 90 years is just 3.2 days. From its lows the marke
As the new year rolls in, many might be thinking about being a healthier version of themselves. Here are some of the many benefits of having a healthy diet: 1. Heart Health According to the AHA, American Heart Association, half of all adults living in the U.S. have some form of cardiovascular disease. By eating foods that are high in fiber, you can help improve cholesterol and can help reduce the risk of heart disease, stroke, and type 2 diabetes. 2. Better Mood There is evidence to suggest that there is a close relationship between the food we eat and the moods we experience. Some researchers found that diets with a high hypoglycemic load can even trigger increased symptoms of depression. 3. Improved Gut Health A diet that is rich in vegetables, fruits, and whole grains can help the good bacteria thrive in the colon. Eating foods such as yogurt, kimchi, and sauerkraut are rich in probiotics to help promote a healthy colon. 4. Improve Memory A healthy diet can even help you maintain cognition and brain health! Some nutrients that can help protect against cognitive decline and dementia include vitamin D, vitamin C, and vitamin E. 5. Strong Bones and Teeth Eating foods that have adequate amounts of calcium and magnesium is important to keep your bones and teeth strong. Foods that are rich in calcium include broccoli, cauliflower, cabbage, and low-fat dairy products. Magnesium can also
We have entered a new investment order. The Covid-19 pandemic has accelerated profound shifts in how economies and societies operate. We see transformations across sustainability, inequality, geopolitics and macro policy. This is reflected in our 2021 investment themes: The New Nominal, Globalization Rewired, and Turbocharged Transformations. The new investment order is still evolving, and investors will need to adapt. Yet the features are becoming clear, and we believe this calls for a fundamental rethink of portfolio allocations – starting now. The New Nominal We see stronger growth and lower real yields ahead as the vaccine-led restart accelerates and central banks limit the rise of nominal yields – even as inflation expectations climb. Inflation will have different implications to the past. Strategic implication: We underweight government bonds and see equities supported by falling real rates. Tactical implication: Our low rate outlook keeps us pro-risk. We like U.S. equities and prefer high yield for income. Globalization Rewired Covid-19 has accelerated geopolitical transformations such as a bipolar U.S.-China world order and a remaking of global supply chains – placing greater weight on resilience and less on efficiency. Strategic implication: We favor deliberate country diversification and above-benchmark China exposures. Tactical implication: We like EM equities, especially Asia ex-Japan, and are underweight Eur