Portfolio Manager Justin Tugman says slowing growth and rising multiples are making for a difficult investment environment. In his opinion, equities remain attractive, but investors should consider a defensive approach.
- The current market environment is one of the most challenging of the past decade, as stock valuations have continued to rise while economic growth and interest rates decline.
- Compounding the issue is uncertainty around whether a recession is imminent or economic growth is simply slowing.
- Still, we think equities remain attractive, but that a defensive approach is warranted.
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