Maslow’s Hierarchy of Needs is a stylized pyramid with food and shelter at the base and self-actualization at the top. Maslow wasn’t around to contemplate where ESG (Environmental, Social and Governance) aspirations sit on his pyramid, but he would likely have placed them near the summit. The people and institutions most sensitive to ESG have already satisfied the other needs on the pyramid.
Maslow’s Hierarchy of Needs is a stylized pyramid with food and shelter at the base and self-actualization at the top. Maslow wasn’t around to contemplate where ESG (Environmental, Social and Governance) aspirations sit on his pyramid, but he would likely have placed them near the summit. The people and institutions most sensitive to ESG have already satisfied the other needs on the pyramid.
Earnings estimates are more deviated from long-term growth trends than at any point in history. As a result, analysts and Wall Street are overly optimistic as the Fed tightens monetary policy against a potentially disinflationary environment.
Earnings estimates are more deviated from long-term growth trends than at any point in history. As a result, analysts and Wall Street are overly optimistic as the Fed tightens monetary policy against a potentially disinflationary environment.
The year 2022 has started off painfully with equities selling off amid slowing growth prospects, Federal Reserve hinting at rate hikes, persistent inflation, and looming COVID dislocations. Even though US growth rates for 2021 were the highest since 1984, the broader equity market continues to sell off with the S&P 500 Index approaching correction territory (YTD). In tangent, the broader bond market continues to feel the convexity pains of increasing interest rates while commodity prices hit some of the highest levels since 2014. Market volatility remains at the forefront as markets continue to quest for equilibrium.
If you were a commodities-focused investor and had success over the last decade, iron probably had something to do with your performance. Indeed, according to this chart from S&P Global Platts below, iron ore futures "drastically" outperformed most other metals and mining equities since 2015.
If you were a commodities-focused investor and had success over the last decade, iron probably had something to do with your performance. Indeed, according to this chart from S&P Global Platts below, iron ore futures "drastically" outperformed most other metals and mining equities since 2015.
The discretionary sector struggled as did all growth and quality-oriented areas of the market in 2022. That was a classic re-set and a raging opportunity to add exposure.
The Institute for Supply Management’s monthly survey of purchasing managers came in below expectations for August, while the Bureau of Labor Statistics jobs report indicated that nonfarm payrolls expanded by only 142,000 jobs during the month (against expectations of 161,000 jobs).
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