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A $41 billion wealth-management firm says the US economy is only 19% recovered from the pandemic — and lays out a winning investing strategy in the wake of a massive stock-market rally.

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  • Glenmede, a firm that manages $41 billion in client assets, says the US economy has recovered only a fraction of the business and consumer activity that was lost because of the pandemic and social distancing.
  • Michael Reynolds, the firm’s investment strategy officer, says Glenmede is underweight stocks and bonds in its portfolios and is turning to alternative strategies.
  • He also says the firm believes in international stocks right now, especially in Japan and emerging markets in Asia.
  • Visit Business Insider’s homepage for more stories.

Do things feel 19% of the way back to their pre-pandemic normal?

There might not be any firm way to measure that, but Glenmede — the $41 billion wealth- and investment-management firm — says that’s the case. It’s evaluated consumer and business data, and concluded that the US economy has recovered about that much of its post-pandemic and social distancing losses.

Abandoning well-known measures like monthly retail sales reports, Michael Reynolds — the firm’s investment strategy officer — and Jason Pride — its chief investment officer for wealth management — made a “Reopening Index” by analyzing daily and weekly reports from retailers, consumer services firms, business activity, and employment.

“The model estimates that ~19% of economic activity that was lost due to social distancing has so far been regained,” they wrote. “While spending appears to be recovering first, both spending and work seem to have a long way to go before returning to any semblance of “normal.””

Here’s how the new indicator tracks the sudden economic halt and the inch-by-inch recovery.

Reopening indicator

The US economy has recovered just 19% of its strength, according to a Glenmede analysis of consumer spending and business activity. Glenmede

Reynolds told Business Insider there are signs consumer spending is starting to recover, especially in retail and “low-touch” businesses. Business and employment data are lagging. While travel and spending on entertainment like concerts are going to recover more slowly, he notes that they’re a small portion of the economy.  

The recovery in the stock market, meanwhile, is far more dramatic. For that reason, Reynolds says Glenmede reduced its allocation to stocks in mid-May.

“We’re more neutral weight at this point in time, recognizing those fuller valuations and recognizing that the thesis of this recovery has actually started to play out,” he said in an exclusive interview. He adds that he has a slight underweight for bonds as well since yields are at record lows.

“We are modestly underweight there in favor of some more opportunistic strategies within the hedge fund space,” he said. “You can have hedge fund strategies that are a little more or uncorrelated and provide that true diversification.”

He said Glenmede’s portfolio managers have found good returns lately in merger arbitrage and volatility arbitrage. The key is that those strategies won’t simply rise and fall with stock or bond prices, which makes them very valuable in a historically uncertain period.

Reynolds said he thinks the best opportunities in stock investing today are in Asia, noting the huge US rally and “a significant amount of political dysfunction” in Europe.

“We really like the valuation opportunities we’re seeing in Japan right now,” he said. And with hundreds of millions of people in China, India, and Southeast Asia expected to join the middle class in the next few years, his firm is also placing its bets on spending by consumers in that region.

“We’ve sort of had a longer-term play here on the emerging consumer in Asia,” he said. “The middle class in China by the middle of this decade is on pace to eclipse the entire population of the US, so that’s a lot of demand in the pipeline for consumer products.”

Investors keen to follow Glenmede’s recommendation may perhaps be interested in the iShares MSCI Japan ETF, or the more broadly Asia-spanning iShares MSCI All Country Asia ex-Japan ETF.

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Source: https://www.businessinsider.com/how-to-invest-us-economy-reopening-market-strategy-from-glenmede-2020-6

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Genesis Celebrates Official Launch In China, Unveiling Its All-new Vision Of Automotive Luxury To Chinese Consumers

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  • Genesis announced its arrival in China with an extraordinary event, introducing the brand to a new generation of Chinese consumers seeking true distinction in luxury
  • Athletic Elegance, the distinctive Genesis design philosophy was showcased with an unveiling of the Genesis G80 and Genesis GV80
  • To deliver the unique Genesis Experience, a new business model will be introduced in China aiming to design authentic relationships with Chinese consumers

SHANGHAI, April 3, 2021 /PRNewswire/ — Global luxury automotive brand Genesis marked its official entry into China with a spectacular Brand Night held on April 2 at Shanghai’s International Cruise Terminal, where Genesis showcased its unique Genesis brand identity, design and experience philosophy. With a stunning drone show titled the “Genesis of Genesis” sweeping over the Bund, Genesis signified its exceptional beginning in the Chinese market.

Genesis performing dazzling drone show, titled with “Genesis of You”

Jaehoon (Jay) Chang, Global Head of Genesis, said, “Today marks the beginning of another audacious chapter for Genesis. The Chinese market serves a critical role in the development of our global business, and we are very excited to present the next generation luxury for China.”

“We are excited to showcase our globally recognized products, Genesis G80 and Genesis GV80, known for the highest quality and distinctive design. We are driven by a purpose to design authentic relationships with Chinese consumers. This is our promise and our differentiator in China to deliver meaningful and stress-free experiences,” said Markus Henne, Chief Executive Officer of Genesis Motor China. “To do that, we will be implementing an all-new business model that will bring our commitments to life.”

New Luxury Defined by A Unique Brand Identity and Design Philosophy

Genesis is a brand that aspires to make true positive impact in our customers’ lives. With a fresh perspective, Genesis audaciously challenges expectations and brings a progressive attitude in order to build emotional bonds with customers based on new ideas in design and innovation. Genesis also desires to provide customers with a sense of thoughtful hospitality throughout the entire journey. More than an automotive brand, Genesis represents a lifestyle and an experience.

Every Genesis presents an intimate opportunity to explore the extraordinary Genesis vision. The distinctive design of Genesis was showcased through a special Brand Night unveiling of the Genesis G80, its mid-sized luxury sedan, and Genesis GV80, the first SUV in the lineup. Defined by their symbolic Two Lines architecture, both models are the expression of Athletic Elegance, Genesis’ design philosophy that achieves the perfect balance between two opposing characteristics: Athleticism and Elegance. Inside the cabin, the Beauty of White Space philosophy is expressed through a harmony of personal space and state-of-the-art technology.

China-tailored Strategy to Provide An All-New Experience

Genesis intends to inspire its customers of what new luxury can be. It addresses what the brand calls Generation Genesis, a generation with bold new perspectives in style and everyday life, whose refined taste in aesthetics and appreciation for distinctive design cultivates resonance with the brand spirit of Genesis. To underline this, Genesis unveiled its brand manifesto at the heart of which sits the  “Genesis of You” message-Every touchpoint with Genesis is designed to fuel the confidence of these consumers, as they embark on new beginnings, break boundaries and progress in their every endeavor. 

Genesis is establishing an all-new business model for the Chinese market, aiming to design authentic relationships with Generation Genesis and deliver meaningful, stress-free experiences centered on human-touch, convenience, trust and transparency. Genesis will gradually develop its presence in China through an omnichannel approach based on direct sales, supported by trusted agents and online sales. 

Furthermore, Genesis will ensure that every person interested in the brand receives the best one-to-one experience from a dedicated companion with the introduction of the Genesis Partner Concept. 

A transparent pricing model under the Genesis One Price Promise will be implemented to ensure a unified price across all sales channels. This unique and uncompromising brand experience will be enabled by the Genesis Digital Ecosystem.

Focus on Brand Building and Designing Genesis Experience

An essential part of the Genesis is lifestyle. Aesthetic ambition with the love for beautiful things are at the core of the brand. That’s the reason Genesis is never compromising anything on design and open to collaborate on a variety of canvases, where the Generation Genesis can be naturally met.

One of these forthcoming brand experiences, for instance, will be held in collaboration with the Shanghai Fashion Week, to create an elevated and in-depth exploration of progressive luxury style through world-class fashion concepts. Comprehensive and touchable Genesis Experience will come to life at Genesis Studios, a luxury lifestyle oasis where people can experience our cars, the arts and culture combined with Genesis hospitality. The first of Genesis Studio will soon launch in downtown Shanghai.

Markus Henne, Chief Executive Officer of Genesis Motor China, added, “Launching the brand in China represents a significant, perhaps the most important, new chapter in our brand’s history. Genesis will focus on brand building in the early stage. We will continue to reveal more highlights of how we plan to appeal to our Chinese audience. I am confident to deliver this promise and invite everyone to be a part of this journey.”

About Genesis

Genesis is a global luxury automotive brand that delivers the highest standards of performance, design, safety, and innovation. The Genesis brand is one of the highest-ranked brands in the automotive industry by respected, third-party experts including North American Car of the Year, Consumer Reports and J.D. Power and more. For more information on Genesis and its new definition of luxury, please visit https://www.genesis.com.cn

Speech of Markus Henne, CEO of Genesis Motor China, at Genesis Brand Night

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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Qell Acquisition Corp. – QELL

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NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Qell Acquisition Corp. (“QELL” or the “Company”) (QELL) relating to its proposed merger with by Lilium GmbH. Under the terms of the agreement, QELL will acquire Lilium through a reverse merger, with Lilium emerging as a publicly traded company.

The investigation focuses on whether Qell Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/qell-acquisition-corp. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in Qell Acquisition Corp. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

 

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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of BowX Acquisition Corp. – BOWX

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NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating BowX Acquisition Corp. (“BOWX” or the “Company”) (BOWX) relating to its proposed merger with WeWork. Under the terms of the agreement, BOWX will acquire WeWork through a reverse merger, with WeWork emerging as a publicly traded company.

The investigation focuses on whether BowX Acquisition Corp. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/bowx-acquisition-corp. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in BowX Acquisition Corp. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

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SHAREHOLDER ALERT: Monteverde & Associates PC Announces an Investigation of Millendo Therapeutics, Inc. – MLND

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NEW YORK, April 2, 2021 /PRNewswire/ — Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a national securities firm rated Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City, is investigating Millendo Therapeutics, Inc. (“MLND” or the “Company”) (MLND) relating to its proposed merger with Tempest Therapeutics, Inc. Under the terms of the agreement, MLND shareholders are expected to own 18.5% of the combined company.

The investigation focuses on whether Millendo Therapeutics, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Click here for more information: https://monteverdelaw.com/case/millendo-therapeutics-inc. It is free and there is no cost or obligation to you.

Monteverde & Associates PC Logo

About Monteverde & Associates PC

We are a national class action securities litigation law firm that has recovered millions of dollars and is committed to protecting shareholders from corporate wrongdoing. We were listed in the Top 50 in the 2018 and 2019 ISS Securities Class Action Services Report. Our lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions. Mr. Monteverde is recognized by Super Lawyers as a Rising Star in Securities Litigation in 2013, 2017-2019, an award given to less than 2.5% of attorneys in a particular field. He has also been selected by Martindale-Hubbell as a 2017-2019 Top Rated Lawyer. Our firm’s recent successes include changing the law in a significant victory that lowered the standard of liability under Section 14(e) of the Exchange Act in the Ninth Circuit. Thereafter, our firm successfully preserved this victory by obtaining dismissal of a writ of certiorari as improvidently granted at the United States Supreme Court. Emulex Corp. v. Varjabedian, 139 S. Ct. 1407 (2019). Also, in 2019 we recovered or secured six cash common funds for shareholders in mergers & acquisitions class action cases.

If you own common stock in Millendo Therapeutics, Inc. and wish to obtain additional information and protect your investments free of charge, please visit our website or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@monteverdelaw.com or by telephone at (212) 971-1341.

Contact:
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave. Suite 4405
New York, NY 10118
United States of America
jmonteverde@monteverdelaw.com
Tel: (212) 971-1341

Attorney Advertising. (C) 2021 Monteverde & Associates PC. The law firm responsible for this advertisement is Monteverde & Associates PC (www.monteverdelaw.com).  Prior results do not guarantee a similar outcome with respect to any future matter.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-monteverde–associates-pc-announces-an-investigation-of-millendo-therapeutics-inc–mlnd-301261648.html

SOURCE Monteverde & Associates PC

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