Minisode - Looking Ahead Into 2021
About This Episode
The year of 2020 was like no other in our lifetimes as a once in a century pandemic shut down the world as we all knew it and the global economy experienced its worst shock since the Great Depression of the 1930s. The stock and bond markets sent investors on a roller-coaster ride. The S&P 500 experienced its fastest 35% decline ever during February and March, only to skyrocket back to all-time highs. Investment--grade and high-yield bonds had a similar experience as credit spreads shot up and back down and Treasury bond yields plummeted to record lows. We also had a presidential election. As this historic year is put into the history books, investors are left to ponder – what should we expect in 2021?
About Our Guest
Tom Wald has just written an extensive paper answering that very question. As chief investment officer at Transamerica Asset Management, a mutual fund company overseeing more than $85 billion of assets under management, he has just completed, “Where We Stand: The Transamerica 2021 Market Outlook.” In this paper Tom explores the risks and opportunities in the year ahead for the U.S. economy, U.S. and international stocks, investment-grade and high-yield bonds. He provides an overview of expected monetary policy at the Federal Reserve and a section entitled, “Election Aftermath.” where he delves into the changing political landscape and what that could mean for investors.
In addition to his more than 30 years of investment experience, Tom has a BA in political science from Tulane University and an MBA in finance from the Wharton School at the University of Pennsylvania. He is also holds the Chartered Financial Analyst (CFA) designation.