Sigma Signals

Week of September 26, 2022

Bear markets are designed to generate maximum emotional discomfort. At the moment of complete despair is the capitulation that results in the panicked sale of investments. With a cyclical bear market in equities now largely confirmed, future return expectations have improved, and as such, additional investment is warranted. Our equity investment signal (SP500 PE) has been changed to green from yellow.

Bob Bilkie, CFA