In our April performance report we look back on an impressive market rally, continuing the bounce that started on March 24th. The Singularity Index outperformed its benchmark, the MSCI AC World Index, and gained +11.9%.

We also reflect on the rather gloomy global GDP predictions, put the strong comeback of the stock markets into perspective, map out possible scenarios following a gradual reopening of economies back to pre-crisis conditions, and analyze what’s priced in.

Please find the full report here.

TSF Factsheet APR 2020 EN

Other posts

Thoughts From the Divide:  Tremendous

BY JON WEBB
While there is likely some argument within the Administration as to whether supply chain shocks are both necessary and sufficient or simply necessary (mirrored by the Fed’s own divergence in views), it’s clear that Yellen and the White House are not too concerned about the Philips Curve, nor seem to put stock in John Cochrane’s “fiscal theory of the price level”. After all, Yellen is still quoted as saying that the US is on a responsible fiscal path, despite the deficit (which is, as Mosler notes, the public’s surplus). Or perhaps they think that with some proper cajoling, the greedflation genie can be put back in the bottle (at least temporarily) as CEO’s find a renewed sense of civic virtue and community? We wouldn’t hold our breath. Read more →

A New Approach to Sector Investing

BY SCOTT DOUGLASS
Many advisors that we speak to believe that it is possible to improve client outcomes through tactical management of sector exposure, but developing the right strategy for doing so can be extremely difficult. Please see attached link to a 15-minute webinar where Craig Cmiel, Managing Director of C8 Technologies US, and Chris McHeffey, Head of US product at C8, will introduce a powerful new tool that can potentially enable advisors to deliver better returns, lower risk, or both through tactical management of sector exposures. This scientific approach might be a great addition to your toolkit. Read more →

C8 Weekly Bulletin:  Backing Value over Defensive – NDR’s Smart Sector

BY JON WEBB
January’s 6.2% advance in the US S&P500 index was far from uniform with sector performances stretching from a 15% gain in consumer discretionary to a 2% retreat in utilities. Given the importance of sectoral positioning  - alongside overall market-directional bets - this week we give the opportunity to our index provider, Ned David Research, to outline the big calls from its 'Dan Hagen/ NDR Smart Sector with Catastrophic Stop' strategy. Read more →
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