Country Indices Flash Report – November 2020

Michael Faust, CFA, ranked in the top five of AdvisorHub’s Advisors to Watch for the second year—recognizing his standout leadership at Bailard.

Timing global cycles can be one of the most difficult and humbling tasks investors face. Yet the value of maintaining a dynamic and diversified equity portfolio has rarely been clearer than it is today. U.S. equities and non-U.S. equities have traded off dominance over the past 50 years. In the 1980s, non-U.S. markets, particularly Japan, led the way. The late 1990s ushered in U.S. dominance, driven largely by the first wave of the technology revolution. Then came a strong period for international stocks after the dot-com bubble, as value outperformed growth, the U.S. dollar weakened, and markets such as Europe and China boomed on the back of deeper trade integration. These long, powerful cycles tend to last 5 - 10 years.

After founding and leading Bersot Capital Management for nearly two decades, Mary Bersot, CFA, joined Bailard this spring with her long-standing clients and colleague Nicholas Risser. In this Q&A with Bailard CEO Sonya Mughal, CFA, Mary reflects on the decision, the values she’s carried throughout her career, and what this next chapter means for her and those she serves.