30/06/2020at 09:07

An MFS Investment manager is fighting FOMO and dumping stocks

Wall Street is counting on FOMO, or fear of missing out, to power the next leg of this fierce stock rally. But some, like Rob Almeida, refuse to be drawn in.

Quants and other systematic players have started to chase U.S. shares higher despite a weakened outlook for corporate balance sheets. | Photo: Finn Frandsen

By Justina Lee / BLOOMBERG

The veteran strategist and portfolio manager at MFS Investment Management, a nearly century-old firm overseeing about USD 500 billion, is digging in his heels. With stocks volatile in the wake of their epic run, Almeida argues stretched corporate balance sheets and overly rosy economic projections make it too early to dive back in.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Loss of biodiversity limits economic growth, the report says. | Foto: Carl De Souza/AFP/Ritzau Scanpix

Responsible Investing

AP4 report: Investing in biodiversity can boost business and stimulate growth

Economic growth is limited by the destruction of biodiversity, a joint report by the Swedish AP4 pension fund and J.P. Morgan Asset Management says.

For subscribers

Responsible Investing

Danish pension funds' climate impact going the right way

For subscribers

According to Inger Söderbom, cost efficiency is of great importance to the Swedish Pensions Agency. | Foto: Pensionsmyndigheten/pr

AMNews

Storebrand and Handelsbanken lose SEK 22bn pension mandates

For subscribers

Hanna Kaskela is director of sustainability at Finland's EUR 56.2bn Varma. | Foto: PR Varma.

AMNews

Finnish pensions giant can now invest in defense

For subscribers

Foto: Ntb Scanpix/Reuters/Ritzau Scanpix

Fund Management

Senior employee sues oil fund for gender discrimination and illegal dismissal

For subscribers

Under Prime Minister Sanna Marin’s government, Finland’s public debt jumped by about EUR 40bn (USD 43.4bn) to about EUR 195bn last year | Foto: Lehtikuva/Reuters/Ritzau Scanpix

AMNews

Debt anxiety is inflaming Finland’s close-run election battle

For subscribers

Storebrand and Handelsbanken lose SEK 22bn pension mandates

The Swedish Pensions Agency has decided to look abroad to save money for the country’s pension savers.

For subscribers

AMNews

Finnish pensions giant can now invest in defense

Varma can now invest in companies in the defense sector if activities related to controversial weapons account for less than 5% of their activities, says Director of Sustainability Hanna Kaskela.

For subscribers

Erling Skorstad, CEO of Nykredit Portfolio Administration. | Foto: Pr/ Nykredit

Fund Management

New business focus makes Nykredit ditch some of its customers

The portfolio administration firm of Denmark’s second largest asset manager is focusing its business model and expects to end some client relationships.

For subscribers