Portfolio manager David Wolf shares his outlook on global asset allocation strategy and how investors could position their portfolios to weather the unprecedented challenges brought on by the coronavirus pandemic shock. David, a former advisor to the Governor of the Bank of Canada, manages over $65 billion in assets as part of the Global Asset Allocation (GAA) team. He notes several themes in the economy right now, including the “Main St. vs. Wall St.” story, that policy responses to the pandemic mean governments are running deficits, and the highest unemployment rate since the Great Depression. David also examines how stock markets nearing record highs are presenting a market dichotomy: a buoyant stock market, but the worst economy in years. Also, that we’re seeing economic shocks, particularly to small businesses.
Recorded on June 4, 2020.