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1.36 MB
Extraction Summary
6
People
5
Organizations
4
Locations
3
Events
2
Relationships
4
Quotes
Document Information
Type:
Financial newsletter / market commentary
File Size:
1.36 MB
Summary
This document is a 'Sunday Night Insight' market commentary dated October 14, 2018, authored by Sharmin Mossavar-Rahmani and her team (likely from Goldman Sachs, based on the names, though the bank name is not explicitly printed). The report addresses client concerns regarding a recent 7.8% drop in US equities, arguing that economic fundamentals remain strong and the bull market is not ending. The document bears a 'HOUSE_OVERSIGHT' Bates stamp, indicating it was collected as evidence during a congressional investigation.
People (6)
| Name | Role | Context |
|---|---|---|
| Sharmin Mossavar-Rahmani | Chief Investment Officer |
Author/Lead of the market insight report
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| Brett Nelson | Head of Tactical Asset Allocation |
Listed on the market insight report
|
| Maziar Minovi | Managing Director |
Listed on the market insight report
|
| Andrew Dubinsky | Vice President |
Listed on the market insight report
|
| Michael Murdoch | Vice President |
Listed on the market insight report
|
| Mary Rich | Vice President |
Listed on the market insight report
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| House Oversight Committee |
Indicated by the Bates stamp 'HOUSE_OVERSIGHT_026894'
|
|
| US Equities |
Market discussed in the report
|
|
| Government of Mexico |
Mentioned regarding trade tensions
|
|
| Government of Canada |
Mentioned regarding trade tensions
|
|
| Government of China |
Mentioned regarding trade tensions
|
Locations (4)
| Location | Context |
|---|---|
|
Economic context of the report
|
|
|
Geopolitical concern context
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Geopolitical concern context
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|
Geopolitical concern context
|
Relationships (2)
Listed together on the leadership team of the report
Listed together on the leadership team of the report
Key Quotes (4)
"The Unsteady Undertow Commands the Seas (Temporarily)"Source
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Quote #1
"As a result, some of our clients have asked whether this drop signifies the beginning of the end of a nearly 10-year bull market."Source
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Quote #2
"We do not think so."Source
HOUSE_OVERSIGHT_026894.jpg
Quote #3
"While trade tensions with Mexico and Canada have abated, those with China have certainly deteriorated and will continue to do so..."Source
HOUSE_OVERSIGHT_026894.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (1,839 characters)
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Sunday Night Insight
October 14, 2018
October 14, 2018
The Unsteady Undertow Commands the Seas (Temporarily)
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Sharmin Mossavar-Rahmani Chief Investment Officer
Brett Nelson Head of Tactical Asset Allocation
Maziar Minovi Managing Director
Andrew Dubinsky Vice President
Michael Murdoch Vice President
Mary Rich Vice President
Brett Nelson Head of Tactical Asset Allocation
Maziar Minovi Managing Director
Andrew Dubinsky Vice President
Michael Murdoch Vice President
Mary Rich Vice President
The 7.8% intraday peak-to-trough decline in US equities between September 21st and October 11th
has rattled investor confidence. Numerous headlines of stock market "carnage" have further eroded
their confidence. As a result, some of our clients have asked whether this drop signifies the beginning
of the end of a nearly 10-year bull market.
has rattled investor confidence. Numerous headlines of stock market "carnage" have further eroded
their confidence. As a result, some of our clients have asked whether this drop signifies the beginning
of the end of a nearly 10-year bull market.
We do not think so. So far, this pullback is actually smaller than the two prior downdrafts we
experienced in late January and in mid-March, neither of which derailed the US economy nor the bull
market. The steady factors we highlighted in our annual Outlook—such as economic growth, benign
inflation, robust earnings, and low probability of recession—have not dissipated. Furthermore, while
the investor focus has shifted to the risks around the unsteady undertow, most of these factors are,
on balance, less concerning today than they were at the beginning of 2018.
experienced in late January and in mid-March, neither of which derailed the US economy nor the bull
market. The steady factors we highlighted in our annual Outlook—such as economic growth, benign
inflation, robust earnings, and low probability of recession—have not dissipated. Furthermore, while
the investor focus has shifted to the risks around the unsteady undertow, most of these factors are,
on balance, less concerning today than they were at the beginning of 2018.
Of course, that is not the case across all geopolitical concerns. While trade tensions with Mexico and
Canada have abated, those with China have certainly deteriorated and will continue to do so for the
Canada have abated, those with China have certainly deteriorated and will continue to do so for the
HOUSE_OVERSIGHT_026894
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