Why US Equity Investors Are Getting More Bearish
By Lori Calvasina
Published June 26, 2020 | 6 min listen
In this edition, Lori discusses the results of her latest quarterly US equity investor survey, which was conducted June 15th – 22nd and included mostly institutional US focused equity investors. There are two key findings. First, bearish outlooks on the US equity market are rising, while bullish views are retreating. Second, the survey identified several things behind the increase in bearishness – valuation concerns have risen to a new survey high, most of our participants expect a long, slow recovery, and fears of a 2nd wave of the coronavirus are high as are worries about the outcome of the 2020 election in the US.
Lori Calvasina
Managing Director & Head of U.S. Equity Strategy, RBC Capital Markets
Lori Calvasina joined RBC Capital Markets in 2017 as a Managing Director. Having spent nearly two decades as an equity strategist at major investment banks, Lori is an expert on the US stock market, and regularly represents RBC in the financial media on Bloomberg and CNBC. Prior to joining RBC, Lori was a senior equity strategist at Credit Suisse from 2010 to 2017, covering Small/Mid Cap Strategy from 2010-2014 and both Small/Mid Cap and US Equity Strategy from 2015-2017. She spent the first ten years of her career at Citi in a variety of roles including lead Small/Mid Cap Strategist from 2007-2010. In both 2008 and 2009 Lori was ranked #2 in the Small Companies category in the Institutional Investor All America Research team poll. Lori is a graduate of the University of Virginia and its selective Government & Foreign Affairs’ Honors Program. In 2019, she was named to Crains New York’s list of Notable Women in Finance.
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