Two goldfish are standing outside their goldfish bowl which is engulfed in flames. One goldfish says to the other goldfish, “Whew, that was close.”
Financial advisors and their clients have increasingly been targeted by scammers attempting to use email to commit wire fraud. Even at SYM there have been several spurious, unsuccessful, attempts to access client accounts in the last few months.
“To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month.” Ben Bernanke
Earlier this week, at the conclusion of its Policy Meeting, the Federal Reserve (the “Fed”) announced it will likely begin to pull back on its “easy money” policy, popularly referred to as “Quantitative Easing”. Per the policy, the Fed has been buying approximately $85 billion of mortgage backed securities per month. The purchase of these securities has helped to keep interest rates low and thus has provided liquidity to businesses and individuals at relatively very low rates.
For the last year, SYM has emphasized the large cap value sector within managed client portfolios. This gave clients an overweighting to dividend-oriented companies in defensive sectors like healthcare, consumer staples, utilities and telecom. It also meant less exposure to materials, industrials, energy, and technology stocks.
Andy joined SYM Financial in January of 2014. Most recently, he lectured courses in investments and portfolio management at Loyola University Chicago's Quinlan School of Business, the 17th-ranked undergraduate finance program in the country.