News Roundup November 14, 2020
Cumberland Advisors In the News
Financial experts from USF’s Muma College of Business and Sarasota-based Cumberland Advisors will host a special discussion on Tuesday from noon to 1:30 p.m. to help investors better understand the presidential election’s impact on financial markets and the economy.
The 90-minute “Post-Election Financial Markets” webinar is free and open to the public. Register at sarasotamanatee.usf.edu/postelection. The event will be comprised of three panel discussions followed by a Q&A session.
November 07, 2020
President-elect Joe Biden overcame President Trump’s attempt to ride a record economic rebound to reelection, as voters showed more concern for the troubled economy’s future than appreciation for its pre-coronavirus past.
Trade war and tariffs reversed much of Trump’s first two years in economic growth,” David Kotok, chief investment officer for Cumberland Advisors, wrote in an email.
Trump’s trade war also may have hurt him in the politically crucial industrial Midwest. States that rely on imported parts from China, such as Michigan, were especially hit hard by the tariffs on Chinese products that the president imposed in 2018, according to a new study by the Federal Reserve Bank of St. Louis.
The Philadelphia Inquirer quotes David R. Kotok
Wall St. betting on Biden win, GOP Senate, smaller stimulus
November 05, 2020
Muni bonds: “As the economy improves and we get to a vaccine, we should see higher (interest) rates no matter who is finally elected President,” wrote David Kotok, municipal bond and fixed income investor with Cumberland Advisors. For now, however, interest rates remain low.
“Munis should be fine,” he wrote, although these bonds “will probably not get a tax-increase boost right away, from a demand/supply standpoint they are in very good shape.”
Until a second stimulus bill passes Congress, “we may see some additional actions from the Federal Reserve to shore up markets if needed. We also expect further jawboning from the Fed to Congress on the importance of additional stimulus.”
P&L Podcast interviews David R. Kotok
November 04, 2020
David Kotok, Chairman & Chief Investment Officer at Cumberland Advisors, on bond markets and his current election outlook. Danielle DiMartino Booth, CEO and Chief Strategist for Quill Intelligence LLC, former adviser to the Dallas Fed, discusses how the election has impacted her outlook for the economy, and a preview of the FOMC. Timothy O’Brien, Senior Columnist for Bloomberg Opinion, on the election results. Hosted by Paul Sweeney and Vonnie Quinn.
University of South Florida Foundation recognizes grant from David R. Kotok and Christine Schlesinger
Donation to USF will support new training program for nurses during COVID-19
November 13, 2020
The University of South Florida Foundation has received a donation from Sarasota businessman David Kotok and his partner Christine Schlesinger to support the development and delivery of a new continuing education training program by the USF Health College of Nursing. The program will help nurses stay safe while treating patients during the COVID-19 pandemic.
The four-part educational series, “Frontline Nursing During COVID-19: A New Paradigm,” will be offered virtually to nurses locally, statewide, and nationally starting in early February.
Kotok said he was inspired to work with USF on this unique program after listening to a presentation by Usha Menon, interim dean of the College of Nursing, during a recent Sarasota-Manatee campus virtual event hosted by Regional Chancellor Karen Holbrook.
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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.