Given the backdrop of another fading rally off recent lows, Simon Hamilton, Managing Director & Portfolio Manager, wonders if investors might have become too optimistic. Market focus will likely shift from all Fed, all the time, to concern regarding the health of corporate earnings. He discusses how balance sheet quality will become increasingly important and how it is unlikely that the success of growth stock-fueled passive investing will reassert anytime soon. It is an appropriate time to think about what levels of return are realistic going forward.
