We may be going back to 2019 practices regarding where we work, eat and travel but make no mistake about it, says Michael Grant in a Global/Long Short Strategies perspective released today, equity investors are not going back to 2019.
Last year, and specifically the response to the global pandemic, has brought the end to much of what investors have become accustomed to, says Grant, Co-CIO, Head of Long/Short Strategies and Senior Co-Portfolio Manager, in “Preparing for a New Era of Reflation… And the End of Central Bank Leadership.”
In an often non-consensus view, Grant comments on interest rates, inflation, reflation, the Fed and a future where “debt does not matter.”
“An expanded and invasive state supported by higher taxation, higher public spending and more restrictive regulation? We can think of no examples in the past where this has led to improved corporate profitability.”
Download the 14-page piece for a perspective on the changes—even turmoil—he sees ahead.
Investment professionals, to learn more about Grant’s views and the Calamos Long/Short Strategies, contact your Calamos Investment Consultant at 888-571-2567 or email@example.com.
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Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.