Adam Steffanus, CFA

Adam Steffanus, CFA

- 25 years of investment experience, MBA from University of Chicago - Co-Lead Portfolio Manager – ARI Global Select since 2011 - Former head of US Investment Strategy at Credit Suisse

Posts by Adam Steffanus, CFA

Ahead of the Curve?

by Adam Steffanus, CFA on December 05, 2024

Ahead of the Curve?

Markets have delivered mixed performance over the 12 months following the first Fed rate cut during past cycles. Click below to hear Advisory Research Global Select Dividend portfolio manager Adam Steffanus discuss how he thinks markets will respond this time.

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Strategies: Select Dividend

Select Dividend Q3 2024 Investor Letter

by Adam Steffanus, CFA on October 28, 2024

Select Dividend Q3 2024 Investor Letter

Fade the Chattering Class Hard landing, recessions, elections, geopolitics… the Chattering Class always has a reason to be bearish. Risk sentiment is surprisingly neutral at best. Investors are positioned defensively and margin debt – a key ingredient for any bubble - remains low. We …

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Strategies: Select Dividend

What Does the First Rate Cut Mean for Stocks?

by Adam Steffanus, CFA on September 10, 2024

What Does the First Rate Cut Mean for Stocks?

A Recession is Process not an Event Recessions are a reflexive process defined by the labor market, the timing of which is dependent on when people start losing jobs. Confidence and spending then decline which ultimately feed into corporate earnings – the main driver for stock prices.

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Strategies: Select Dividend

Why Money Market Liquidity Might be a 2025 Story

by Adam Steffanus, CFA on February 08, 2024

Why Money Market Liquidity Might be a 2025 Story

JANUARY 2024 Equities benefit when rates fall, and liquidity exits the money market On a calendar year basis, the S&P 500 performed well during years after the end of a Federal Reserve tightening cycle when money market (“MM”) flows were negative by at least 7%. Considering 2023 s …

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Strategies: Select Dividend

Simplify your Allocation

by Adam Steffanus, CFA on December 14, 2023

Simplify your Allocation

September 2023 A single global equity portfolio may be all the exposure you need 30 years ago, equities were a complicated asset class, but today, there is a much wider opportunity set of more complex and illiquid alternatives. In that case, simplifying your equity allocation to a sin …

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Strategies: Select Dividend

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