One Day at a Time

2019 Themes and Investment Strategy

“ The best thing about the future is that it comes only one day at a time.”

—Abraham Lincoln

Each year around this time, the soothsaying inevitably flows from economists and strategists, each attempting to convey a flawlessly precise year-ahead forecast. Of course, projecting anything in the markets over such a short time frame is quite a difficult task.

Perhaps, as Lincoln noted, the future does come “only one day at a time.” Instead of relying too heavily on overly precise annual forecasts, we believe investors should favor a more strategic focus, identifying key themes along with the associated opportunities and risks and positioning portfolios accordingly while remaining nimble to change.

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