Multi Asset: Global

Global Investment Strategy

BCA Research’s Global Investment Strategy provides asset allocation advice and timely forecasts to shape clients’ conviction as they make investment decisions. 

Tools to forge your own views 

  • Our weekly reports consist of updates of our strategy and recommended portfolio mix, complete with the performance of our trade recommendations, while keeping clients abreast of any important shifts in the macroeconomic landscape
  • Our special reports focus on original investment ideas or timely topics, drilling down into relevant issues affecting the macroeconomic outlook and markets
  • We offer quarterly strategy outlooks, which highlight developing investment themes, identify opportunities and risks, recommend strategy, and review performance
  • Client receive ad-hoc special alerts signaling major shifts in investment service
  • We also provide a tactical global asset allocation monthly update based on BCA Research’s cutting-edge MacroQuant model, a market-timing model which draws on over 100 variables on the economy, financial and monetary conditions, sentiment, and valuations to derive tactical global portfolio allocation recommendations towards equities and bonds

At Global Investment Strategy, we combine our knowledge of macroeconomics with deep analysis of financial markets in order to help our clients generate alpha.

Peter Berezin Chief Strategist,

Global Investment Strategy

How we do it 

  • Our discussion of key economic and investment themes is designed to assist clients in understanding the underlying forces that are shaping the economic and financial market outlook in both the developed and emerging worlds
  • Our unique approach results in timely and actionable recommendations, which allow clients to capitalize on profit opportunities as well as preserve capital
  • Our analysis draws on the breadth and depth of BCA Research’s research offerings, and is based on a mix of macroeconomic developments and how they impact all financial markets spanning the globe
  • The GIS team utilizes unique models and indicators that give investors an edge in forecasting market trends. Some of these models were pioneered at BCA Research decades ago and have stood the test of time. Others, such as MacroQuant, offer innovative, cutting-edge tools that are not available anywhere else in the investment community

Challenge your investment conviction with insights from Global Investment Strategy

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Some of what we've called

2018 Upgrade Global Stocks 
GIS downgraded global equities in June 2018 based on the prospect of slowing global growth and an increasingly hawkish Fed. We repeatedly cautioned clients against “buying the dip” as stocks began to plunge in October. Only when global equities approached a capitulation point following the December FOMC meeting did we turn more bullish.

2016 End of Bond Bull Market 
After being in the “deflationary” camp for many years, GIS shifted its view on bonds towards a more bearish stance in July 2016. Our note entitled “End Of The 35-Year Bond Bull Market” came out on the same day the US 10-year Treasury yield reached an all-time closing low of 1.37%. We argued correctly at the time that both cyclical and structural forces would conspire to put in a bottom for yields. 

2014 Long Dollar
Global Investment Strategy instated a long U.S. dollar (DXY) position in late-2014, with nuances added along the way. Having stayed with this position has been a profitable course of action, as it has generated a double-digit positive return to date.

2011 Peak Commodity
Identifying turning points for secular trends in financial assets is a critical part of what GIS can deliver to its client base. In May 2011, Peter Berezin presented a speech entitled “The Coming Commodity Bust” at a conference in Saudi Arabia. As one of the only bearish voices on the stage, he argued that the fundamentals underpinning the commodity boom had broken down and that it was time to turn more cautious on oil and metals. 

2015 Populist Wave
We began discussing the new age of populism quite early on. Our service predicted that Donald Trump would become president. In early June 2016, GIS began to flag that the Brexit vote was too close to call. In an aptly titled report “Worry About Brexit, Not Payrolls,” GIS warned that investors were greatly understating the risks that on June 23rd, the British population would reject the European establishment by voting in favor of Brexit, an event which ultimately came to pass. 

Global Investment Strategy

Peter Berezin

Chief Strategist

Peter is currently BCA Research’s Chief Global Strategist and Research Director. Since joining BCA Research in 2010, he has served as Managing Editor of The Bank Credit Analyst as well as helping to develop and launch BCA Research’s Equity Trading Strategy. Peter focuses on analyzing global economic and financial market trends. Prior to BCA Research, Peter worked as a Senior Global Economist with Goldman Sachs. Peter has also spent time in the research department of the International Monetary Fund. Peter has a Bachelor of Arts in Economics from McMaster University, a Master of Science from the London School of Economics, and a PhD in Economics from the University of Toronto.

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