The economy's been picking up modestly,says Jason Pride,CFA,Director of Investment Strategy at Glenmeade Investment and Wealth Management.The political side of the equation in Europe is in complete contrast to that.It's gonna take a long time.Expect a bumpy period for an extended amount of time.
The reality is,we live in a very global environment.Our expectation is a moderate downside in Europe,not dragging the U.S. into the abyss.Our big theme is,don't hide in cash or Treasuries which are paying you nothing.
Glenmeade likes high quality high yield bonds and defensive,high quality stocks such as Colgate Palmolive and Yum Brands.These are companies linked to the emerging markets,Mr.Pride pointed out.
Glenmeade is a privately held firm that cites its strength and stability as an organization,delivering consistent and thoughtful advice in all markets,year after year.Glenmeade offers sophisticated strategies based on intellectual rigor for individuals,families,family offices and institutions.It has six offices in locations such as Philadelphia and Morristown,New Jersey.
Colgate Palmolive(CL),Yum Brands(YUM)
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