Financial Industry Insights from Advisors Asset Management


2019 Investment Outlook: Will We Alter or Confirm the Traditional Sequence of the Markets?


It appears we have transitioned to interchangeably utilizing the microscope and the telescope. Should the fear of a short measurable event be negated, we simply transition to a broader and bigger view that most assuredly affirms our current pragmatic opinion.

With increasing exposure to more economic and financial data and exponential interpretations of the data, we are not addressing the psychological component of what this does to herd behavior and the economic cycle. Let’s take a look.

2018 was the year of “yes, but...” Considering the broadly positive domestic economic news, the countering fear was that this was peak earnings, peak unemployment, peak civility, and so on. (A quip about “peak peaking” might be appropriate, but it’s a safe bet we will circle back to utilizing the ominous topping declarations again.) The “yes, but” hinges on acknowledging the positive but enlightening the speaker that their bliss is based on ignorance of some important facts that cannot be countered.

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CRN: 2018-1126-7051 R

This commentary is for informational purposes only. All investments are subject to risk and past performance is no guarantee of future results. Please see the Disclosures webpage for additional risk information at commentary-disclosures. For additional commentary or financial resources, please visit



Effective, June 10, 2016, please note that Gene Peroni left Advisors Asset Management (AAM) to become President of Peroni Portfolio Advisors, Inc. Peroni Portfolio Advisors, Inc. ("PPA") is an investment advisor independent of AAM.


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