Astoria's Founder and CIO, John Davi, was interviewed by FOX Business on July 19, 2019 regarding the state of the U.S. economy and Astoria’s outlook on the stock market.
Here are a few items that John discussed:
In June, the Conference Board Consumer Sentiment Index had its largest 1-month decline since August 2011; Astoria is anticipating the next reading which comes out at the end of July.
There is a lot of uncertainty with tariffs, the July FOMC meeting, and U.S. interest rate policy. Until this certainty gets played out, we think investor sentiment will remain skittish.
We believe there is a massive wealth gap in this country and that gap has widened over the past decade. Low interest rates have fueled credit, leverage, the stock market, private equity, and the housing market.
In our view, now is a good time to reduce portfolio risk, increase your exposure to gold, alternatives, and cash.
Gold has proven to be uncorrelated and has historically helped to reduce portfolio risk. We believe an allocation to gold can help diversify one’s portfolio.
Click here to listen to the interview
Best, John Davi
Founder & CIO of Astoria
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Photo Source: FOX Business