Michael A. Gayed, CFA, is chief investment strategist and co-portfolio manager at Pension Partners, LLC., an investment adviser which manages a mutual fund and separate accounts according to its ATAC (Accelerated Time and Capital) strategies focused on inflation rotation. Prior to this role, Gayed served as a portfolio manager for a large international investment group, trading long/short investment ideas in an effort to capture excess returns. From 2004 to 2008, Gayed was a strategist at AmeriCap Advisers LLC, a registered investment advisory firm that managed equity portfolios for large institutional clients. In 2007, he launched his own long/short hedge fund, using various trading strategies focused on taking advantage of stock market anomalies. Follow him on Twitter @pensionpartners and YouTube at youtube.com/pensionpartners.
The ideal time for investors to be considering an active investment strategy is after a long period of smooth, upward returns that leaves the index on the higher end of the valuation spectrum.
Emerging markets have not benefited from quantitative easing, so tapering would only improve the situation.
How many of us truly have the stomach or temperament for investing in the most hated of asset classes?
Nowadays the career risk of remaining bearish at this point is simply too high a price for most to pay.
Everyone focuses on the question of when tapering will occur, but the real question should be whether it matters.
As U.S. equities are hitting all-time highs, commodity prices are at their lowest levels of the year.
The bulls' argument for a further climb for equities is treading on some very thin ice.
Everyone feels good about the market thanks to Twitter, but don't ignore the red flags.
Don't assume QE means uninterrupted new stock highs as far as the eye can see.
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