Investment Strategy Insights

Today’s conversation is with Marat Molyboga, Chief Risk Officer and Director of Research at Efficient Capital Management. Marat is a soviet trained mathematician who achieved his Masters in Applied Mathematics in Moscow, and holds an MBA in Finance from University of Chicago, a CFA, and a PhD in Finance from EDHEC business school. He has authored or co-authored 20 published papers.

Almost eight months into coronavirus-led shutdowns and limitations, it appears that most individuals have adapted to this “new normal” and way of life. Since March 2020, many Americans have experienced extreme financial market volatility, job layoffs, and asset class dislocations that rival the Great Recession of 2008.

As this piece is being written, we are coming into the homestretch of the 2020 U.S. elections. It seems that this election has stirred more emotions and captivated more voter interest than any other election in recent memory. We have certainly received a fair amount of clients' questions about the election and what impact it may have on the financial markets and the broader economy. We attempt to address these issues in the thoughts below.

Investors have a content problem. The constant barrage of information – mostly useless noise – can be overwhelming. At MAP, we spend much of our time reading. We want to point you to our favorite articles. Here is our weekly curation of our favorite reads.

Investors have a content problem. The constant barrage of information – mostly useless noise – can be overwhelming. At MAP, we spend much of our time reading. We want to point you to our favorite articles. Here is our weekly curation of our favorite reads.

Ever lower interest rates and debt-fueled growth have been the major driving force for asset price appreciation over the last four decades. Many have now come to believe that the system is close to a breaking point, teetering at the edge due to a virtually unpayable debt overhang that has created multiple asset bubbles across the world. To make sense of the current macroeconomic backdrop and where we might go from here, we had the pleasure of hosting Diego Parrilla (Managing Partner at Quadriga Asset Managers).

Ever lower interest rates and debt-fueled growth have been the major driving force for asset price appreciation over the last four decades. Many have now come to believe that the system is close to a breaking point, teetering at the edge due to a virtually unpayable debt overhang that has created multiple asset bubbles across the world. To make sense of the current macroeconomic backdrop and where we might go from here, we had the pleasure of hosting Diego Parrilla (Managing Partner at Quadriga Asset Managers).

The stock market rally continued with only a minor hiccup in the third quarter. Despite a September swoon that saw big name technology issues sell off. The Nasdaq-100 Index continued its reign of dominance over broader large-cap indexes, powering to a 12.6% total return during the quarter compared to an 8.9% gain for the S&P 500 Index.