Category: Legg Mason

We have asked ClearBridge Investments to sit down with us to provide an update on portfolio positioning and their outlook as it relates to the Large Cap Growth and International Growth ADR SMAs available on the Axxcess Platform. About ClearBridge: ClearBridge Investments is a leading global equity manager committed to delivering long-term results through active management. We have followed this…

There are many parallels between today and 1998-2002, but the current environment lacks that period’s overvaluation and cyclical excesses. Key Takeaways There are many parallels between today and late 1998: a 19% correction and quick recovery and a brief inversion of the yield curve. The 1998 pullback proved to be a great buying opportunity as…

Confidence in the global economy a year ago led policymakers to move too far and too fast — ultimately hurting growth. Fortunately, the pendulum appears to be swinging the other way. The world economy wobbled into 2019 on a wave of pessimism,  with multinational agencies like the International Monetary Fund (IMF), Organization for Economic Cooperation…

Strong economic fundamentals have allowed homebuilders to maintain decent growth and outperform the broad market. Key Takeaways Strong economic fundamentals and a lack of new housing supply suggest the housing market is well-positioned to continue slowly grinding higher. Recent low valuations for homebuilders may offer an attractive entry point. We expect homebuilders with solid operations…

by: Ken Leech, Chief Investment Officer “Less is only more where more is no good.” ~Frank Lloyd Wright KEY TAKEAWAYS The most underappreciated economic theme continues to be the extraordinarily subdued inflation rates around the globe. Fed officials are making it clear that conditions must change substantially before they will commence further rate increases. Considering…

February 4, 2019 Key Takeaways The ClearBridge Recession Risk Dashboard saw a fifth signal change to yellow in January, however we maintain our outlook of expansion for the U.S. economy in the coming year and the overall signal remains green. Wage Growth has accelerated over the last several months, which could lead to pressure on…

Makers of semiconductors are seeing valuations hit amid a cyclical downturn, but the future long-term growth picture remains intact. Last year was a tough one for the semiconductor industry – the makers of those essential electrical components found in all modern technology. Fears over slowing demand for memory chips, rising inventory levels and the ongoing…

Jeff Schulze, CFA The current environment is similar to several previous periods where market weakness and substantial P/E compression occurred against a backdrop of economic and earnings strength. Historically, these periods have been followed by solid stock rebounds. Key Takeaways Given a mostly healthy ClearBridge Recession Risk Dashboard, we expect current market turmoil will be…