Executive Summary
Increased concerns about global growth slowing and downside risks from trade resulted in deteriorating macro-economic conditions in the first half of 2019. As a result of the prevailing financial conditions, the U.S. Federal Reserve signaled it is open to cutting interest rates to stimulate growth and sustain the current economic expansion.
The S&P 500 index produced a return of 17.35% in the first half of 2019, its best first half since 1997. In our view, the current year to date index returns in the U.S. are unlikely to continue at this rapid pace.
We continue to advocate a globally diversified, multi-factor, multi-asset ETF. Moreover, we strongly believe sticking with a long-term investing plan will increase the probability of accomplishing one’s financial goals.
