Palisade Capital Management Co-Chairman and Chief Investment Officer Dennison Veru recently shared his thoughts on the current market environment and Palisade's view on risks and opportunities for the remainder of 2022.
Posted in Market Commentaries, Media Appearances, Webinars
On April 7th, 2022, Palisade Capital Management was proud to co-sponsor the 25th Annual Theodore D. Veru Symposium entitled "The Future of Finance: Digital Assets, Cryptocurrency, Decentralized Finance". The event was moderated by Palisade's Chief Investment Officer Dan Veru who was joined by speakers Jason Trennert, Founder, Chairman and CEO of Strategas Research Partners, an institutional brokerage and advisory firm providing macro research and capital markets and corporate advisory services, and Tom Jessop, president of Fidelity Digital Assets, created to deliver full-service institutional brokerage capabilities for native digital assets.
What a year! The bellwether Standard & Poor’s 500® index of domestic stocks rose by 27% during the last twelve months, one of its best showings in the last twenty years. If key events from the “real world” of 2021 had been known to us last January, we would not have predicted such a rosy outcome; a pileup of disruptions might have been expected to produce a market headwind.
Palisade reviews the third quarter of 2021, which saw all three major stock market indices – the Dow Jones Industrial Average, Standard & Poor’s 500® Index, and NASDAQ Composite – ending the quarter about where they began. The period started off well, as the S&P rose over 5% in the first two months of the quarter, but bearish sentiment sank the index in September.
The lockdowns and flash recession which followed the beginning of the COVID-19 pandemic precipitated a reset of the global economy and initiated a new business cycle. Recent stock market weakness, however, is a cyclical correction in a secular bull market, and we believe the U.S. remains early in the recovery phase of this new cycle.
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