As we turn from one quarter to the next, it at once feels like time is passing both quickly and slowly. Thinking back six weeks, we were dining at restaurants, throwing birthday parties, and strolling through grocery store aisles. That already feels like ages ago, and that kind of normalcy now itself seems novel. We at Bailard are familiar with dynamic conditions from frequently-changing market signals to slower-moving economic indicators. But this is different. Social and fiscal policies are evolving daily around a health crisis that goes beyond the markets and the economy to our homes and loved ones.
Just six months ago, we wrote in the 9:05 about our firm-wide values: accountability, compassion, courage, excellence, fairness, and independence. These values have always been core to who we are and today, in these testing times, they are more important than ever.
Bailard, with our clients, has overcome numerous economic shocks over the 50 years since our founding. And while 2020 has brought us extraordinary, previously-unthinkable times, we are confident we will overcome this too. Within the pages of this quarter’s 9:05, you’ll find the same relevant, measured perspective on the markets and economy that you have come to expect from your Bailard team. We continue to take a long-term perspective on the market, yet are mindful of short-term opportunities to minimize losses or even uncover possible gains. And, as always, we work tirelessly to ensure the needs of our clients are first and foremost.
This unprecedented health crisis presents a unique challenge for we, as humans, thrive on social connection. While the pandemic has in some cases brought generations of families together under one roof, in other cases we are separated and far away. And we cannot see our friends (or at least, not in-person). With that in mind, we thought to share a little of our experience, and you’ll find the back cover of this newsletter offers a peek into our lives as we shelter-in-place.
It shouldn’t have come as a surprise, but we are so pleased to witness the strength of our team during this time. We hope you share in the pride that we feel as our colleagues exhibit not only the excellence you might expect but exceptional compassion for our clients and our communities. We thank you for your partnership and, more importantly, wish safety and good health for you and your families. If you have any questions or concerns and want to discuss more, please reach out to us.
Chairman and Chief Executive Officer
Executive Vice President
Chief Operating Officer, Chief Risk Officer
Recent Insights
Bailard CEO Ft. in Forbes, “Three Ways To Put Your Values And Your Team First In A Competitive Market”
Bailard's CEO Sonya Mughal, CFA offered three insightful ways leaders in the industry can fortify their culture and step up their communication practices to attract and retain high-performing teams.
May 2, 2024
Country Indices Flash Report – April 2024
The Japanese yen hit its lowest level versus the dollar since the 1980s late in the month, followed by a sharp bounce in the currency, which most suspect was driven by official intervention.
April 30, 2024
Quarterly International Equity Strategy Q1 2024
The global economic environment changed dramatically in the first quarter as bond yields, which had marched down in the 4th quarter on the belief that central bank pivots were fast approaching, reversed course. Prospects for mid-year reductions in short-term interest rates remain high for Europe and the UK, but persistent strength in the U.S. labor market has pushed prospects for a shift there closer to the end of 2024. Still, non-U.S. equities found purchase in solid earnings even as they faced headwinds from a strong dollar due to the evolving central bank dynamics and heightened geopolitical risks. As noted below, we see a range of foreign stocks that can flourish in the current environment and remain excited for the potential of stocks both in developed and emerging markets to compete well against U.S. peers.
April 25, 2024
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