What may be ahead for equities?
An aging profit cycle and higher valuations suggest now may be a good time to prepare for downside risk
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An aging profit cycle and higher valuations suggest now may be a good time to prepare for downside risk
Comments Off on What may be ahead for equities?
As a dividend investor, it is important to differentiate between companies that have high, but possibly volatile yields and those with attractive, but defensible yields.
As dividend income investors, we are focused on sustainability of profit margins over a full cycle. I believe that we are currently in the later stages of the profit cycle, with corporate profit margins at about 1% below their late-2014 peak levels. What does that mean for us as high-conviction, bottom-up investors?
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Investors in today’s market are navigating a series of “what ifs” – potential policy shifts from the Trump administration in the U.S., interest-rate changes and uncertain global growth rates. I believe that a long-term, high-conviction approach to dividend investing is an asset in today’s short-term-focused, myopic markets.
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