Morgan Stanley IM: Where Do We Go From Here? Neutral May Be the New Defensive
Jim Caron, CIO of the Portfolio Solutions Group, shares his macro thematic views on key market drivers.19.12.2023 | 06:15 Uhr
- The markets seem to be pulling forward 2024 market returns into 2023, leaving us to wonder whether there will be anything left for next year.
- Yes, we do in fact think there will be opportunities in 2024 but they will likely stem from active management and taking advantage of tactical opportunities, more so than just buying, holding and hoping for returns.
- As noted in prior podcasts, we moved from underweight to neutral duration in October. Now, we are moving from overweight to neutral on equities, but are nonetheless optimistic.
- Today we think positioning toward neutral risk exposures across portfolios is a good tactical decision because it gives an investor room to maneuver in the weeks and months ahead.
- Get Neutral, but be Tactical. This may be the new Defensive. Why? We discuss in the audiocast.
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