Excerpt from...

S&P 500 Perfect Earnings Record Is on the Line With Peak Growth

By Lu Wang  - July 10, 2021 - Bloomberg

David R. Kotok - In the News


All through the pandemic era, buying stocks when corporate America delivers its quarterly reporting card has been a reliable winning trade. But the streak may be coming to a close.

A potential economic slowdown, the spread of a highly contagious coronavirus variant and the specter of Federal Reserve scaling back monetary stimulus have prompted Cumberland Advisors to recently raise cash holdings in its portfolios.

“We’re a little more defensive,” said David Kotok, chief investment officer at Cumberland. “We would like to see the optimistic outcomes, but we think the risk profile in the world is rising.”

Signs of a weakening economy have rattled financial markets in recent weeks, contributing to a drop in 10-year Treasury yields. Meanwhile, economically sensitive shares like banks have lost some luster while steady growers such as technology are back in vogue.


Read the full article here: https://www.bloomberg.com/news/articles/2021-07-10/s-p-500-perfect-earnings-record-is-on-the-line-with-peak-growth

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David R. Kotok
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