WALL STREET JOURNAL - Investors Are Sitting on the Biggest Pile of Cash Ever
Baker Boyer Chief Investment Officer, John Cunnison, is quoted in this Wall Street Journal article which discusses insight on investment strategy and current market volatility.
Article excerpt: John Cunnison, CIO at investment firm Baker Boyer, said he moved some of his portfolio into cash earlier this year when volatility first started creeping into markets—marking the first time in at least a decade that he hasn’t been fully invested in stocks or other assets.
“It does justify some higher level of caution and resilience in portfolios than you otherwise would have,” Mr. Cunnison said. “We’re still comfortable with a slightly higher level of cash.”
Mr. Cunnison said he put some money back into the market in mid-May and would like to gradually wade back into stocks, especially if share prices drop further. Some market watchers interpret the cautious positioning by investors like Mr. Cunnison as a positive sign that the stock market has room to run.
Read the full article (with paid subscription) in The Wall Street Journal.