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November Abbot Downing Strategy Report

Complacency Bordering on...Exuberance



Markets around the globe advanced into new high territory in October, with the S&P 500 posting a total return of 16.9% YTD. Global fundamentals remain supportive with many indicators signaling the potential for further gains. The November Abbot Downing Strategy Report discusses the risks of becoming complacent in this environment and where we might look for potential challenges. A second article covers a foundational aspect of Abbot Downing’s portfolio construction process—our “two-factor” approach.