Chief Investment Officer | Johnson Financial Group
As Chief Investment Officer, Brian Andrew leads Johnson Financial Group's investment strategy to provide consistent, actionable investment solutions for our clients.
4 minute read time
The Masters golf tournament, as its name suggests, is played by the best talent golf has to offer. During the tournament last weekend, I couldn’t help but think about the change in leadership of golf’s greatest players. Among those were Gary Player, Jack Nicklaus and Tom Watson—players I grew up with—teeing off from the honorary tee box to open the tournament. And then there was Tiger Woods, struggling to get through four rounds to finish the tournament at 47th.
The winner, Scottie Scheffler, has been on tour since 2018 and never won a Major. He sure won this weekend, by a three-stroke margin. Cameron Smith, who tied for third after staying in contention until Sunday’s round, recently won The Players Championship at Sawgrass. These are not household names…yet. Given their top-10 rankings though, they likely represent the future leadership of the PGA tour.
Global markets are exhibiting a change in leadership as well. Thinking about how the leadership transition takes place and affects portfolio construction is important.
This chart reflects the U.S. trade deficit, month by month, in billions of dollars. You can see that the trend line is down, which means the deficit has been getting worse for most of the last 20+ years. The March deficit is likely to exceed $90 billion. This deficit means that we import more goods and services from other countries than we export.
This information is for educational and illustrative purposes only and should not be used or construed as financial advice, an offer to sell, a solicitation, an offer to buy or a recommendation for any security. Opinions expressed herein are as of the date of this report and do not necessarily represent the views of Johnson Financial Group and/or its affiliates. Johnson Financial Group and/or its affiliates may issue reports or have opinions that are inconsistent with this report. Johnson Financial Group and/or its affiliates do not warrant the accuracy or completeness of information contained herein. Such information is subject to change without notice and is not intended to influence your investment decisions. Johnson Financial Group and/or its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared. Past performance is no guarantee of future results. All performance data, while deemed obtained from reliable sources, are not guaranteed for accuracy. Not for use as a primary basis of investment decisions. Not to be construed to meet the needs of any particular investor. Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses. Certain investments, like real estate, equity investments and fixed income securities, carry a certain degree of risk and may not be suitable for all investors. An investor could lose all or a substantial amount of his or her investment. Johnson Financial Group is the parent company of Johnson Bank, Johnson Wealth Inc. and Johnson Insurance Services LLC. NOT FDIC INSURED * NO BANK GUARANTEE * MAY LOSE VALUE