Richard C. Marston, PhD
James R. F. Guy Professor Emeritus of Finance, The Wharton School, University of Pennsylvania
Investing When Inflation Soars, and the Fed Turns Aggressive
Is this the end of a 40-year rally? The sudden burst of inflation has unnerved investors as the 60-40 portfolio has failed miserably. But there is still so much hope that history will repeat itself. After all, recent downturns have seen rapid recoveries of asset prices. Key economic indicators point in different directions, so we are not sure whether we are headed toward a recession. Will the Fed blink if a recession occurs? This session will cover defensive measures that investors can adopt; a look at the history of recession in the U.S. and what’s different this time; why returning to two percent inflation of pre-COVID times may be hard; a look at global and national deflationary trends; and preparing the portfolio for the (inevitable?) rebound.
Richard Marston is the James R. F. Guy Professor Emeritus of Finance at The Wharton School of the University of Pennsylvania. He has taught asset allocation for more than 20 years in the Certified Investment Management Analyst® (CIMA®) program. He is a past recipient of the Investments & Wealth Institute’s Matthew R. McArthur Award for outstanding contributions to investment management. Since 1999, he has been faculty director of Wharton Executive Education's Private Wealth Management Program, a week-long program for ultra-high-net-worth investors. Professor Marston has lectured on investments throughout the United States and in more than a dozen foreign countries. He is the author of numerous articles and books, including “Portfolio Design: A Modern Approach to Asset Allocation and Investing for a Lifetime.” He earned a Bachelor of Arts from Yale College, a PhD from the Massachusetts Institute of Technology and was a Rhodes Scholar at Oxford University.