Portfolio Insights: Large Cap Strategies


Patrick Kelly (continued): We've been through a lot of different markets–the good, the bad, the worst, some of the best, and through those times we've delivered very strong long-term track records for our clients. Speaker Question: I always wondered what keeps a portfolio manager like yourself up at night? Where do you see the biggest concern that could interrupt this flow of the markets? Patrick Kelly: I think the COVID situation obviously remains a risk and we'll see how cases progress in the fall with people with kids returning to school and so forth. We are optimistic on a vaccine and that news flow over the next several months and having a vaccine widely available in the first half of 2021. Now that doesn't mean everything will go back to 100% normal once we have a vaccine but I think we can take big steps in getting back to normal. But with that said, there's still risk with the vaccines and so it still remains a risk factor out there despite our optimism on the vaccine front.

I think the tensions between the U.S. and China and the risk that that can present.

And as I said too, I think there is some risk to the elections and if there was a Democratic sweep and some agendas that may be pursued but being in this business for the past 20 plus years, there are always risks, there's always stuff keeping you up at night. We're always looking and assessing the risk/reward and yes there are risks out there but we continue to be positive on equities again for all the reasons that I mentioned in my opening comments.

Jessie Quick: Thank you. It was a wonderful call and I hope you have a great rest of the day. Take care.

Patrick Kelly: I want to thank everyone for their time again and all of your support–those were great questions. And again, appreciate the time.

Conference Call 8/9

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