Positioning in a Late Cycle Environment
Salvatore Ruscitti, U.S. Equity Strategist - MRB Partners
Investors face a challenging macro environment. U.S. economic growth has been resilient and inflation is moderating. However, low employment, elevated corporate profits, and higher-for-longer interest rates, are consistent with late-cycle economic conditions. This presentation will focus on the U.S. equity market outlook and how investors should position equity portfolios for the next 6-12 months. Learning objectives to include:
- What is the outlook for U.S. earnings?
- Will A.I. optimism continue to boost technology/growth stocks?
- Are cyclicals safe to own or should investors favor defensive positioning?
- Are the low valuations of bank stocks an opportunity or a trap?
Speaker bio: Salvatore Ruscitti joined MRB in 2011. He has extensive experience in both top-down and bottom-up equity research. Mr. Ruscitti is responsible for MRB’s U.S. equity sector views. He draws together the firm’s macroeconomic and policy outlook, cyclical relative performance drivers, valuations and industry forces to form integrated and consistent sector strategy. Prior to joining MRB, Mr. Ruscitti worked in global wealth management, where his responsibilities included analyzing and recommending U.S. and Canadian equities for inclusion into client portfolios. In addition, he provided macro level insights through regular written commentaries and participated in marketing efforts. Previously, Mr. Ruscitti worked as an analyst for a tactical asset allocation hedge fund, utilizing derivatives-based strategies. He has also worked for a merchant bank where he screened and analyzed investment opportunities. Mr. Ruscitti has M.B.A. and Bachelor of Commerce degrees from McGill University.
