Economic & Market Commentary, Fourth Quarter 2013
Overview
In this quarterly outlook, Pitcairn discusses fixed income, global and U.S. equities and the world economy, finding that investment success remainspredicated on the basics of:
- Execution and diversification
- Understanding what’s going on in the world
- Not letting emotion get the best of us
However, with the bull market fully established and investors paying more attention to fundamental attributes of individual companies, they argue that active management can have a significant effect on investment results.