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Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

Please be advised that future verbal and written communications from the bank may be in English only. These communications may include, but are not limited to, account agreements, statements and disclosures, changes in terms or fees; or any servicing of your account.

Por favor, tenga en cuenta que es posible que las comunicaciones futuras del banco, ya sean verbales o escritas, sean únicamente en inglés. Estas comunicaciones podrían incluir, entre otras, contratos de cuentas, estados de cuenta y divulgaciones, así como cambios en términos o cargos o cualquier tipo de servicio para su cuenta.

Informamos que as futuras comunicações do banco, verbais e escritas, podem estar disponíveis apenas em inglês. Essas comunicações podem incluir, entre outras, acordos de conta, extratos de conta e divulgações, alterações aos termos ou tarifas, ou qualquer tipo de serviço pertinente à sua conta.

仅此通知,本行即日起发出的口头及书面通信可能将只提供英文版本。这些通信可能包括但不限于账户协议,账单和通知,条款或费用变更;或任何为您账户提供的服务。

The-2020-tech-growth-equity-summer-barbecue

Perspectives

The 2020 tech growth equity summer barbecue

David Bailin

By David Bailin

Chief Investment Officer

September 8, 2020Posted InFixed Income, Investment Strategy and Equities

Tech stocks are finally seeing a tiny bit of “selling pressure” after a run that has surpassed all expectations.  Expect further volatility due to the Presidential elections and ongoing pandemic.

The value of diversification for US-centric investors is going to be higher in the decade ahead. US equity valuations are at an historic high relative to others.  As the world finds a true solution to Covid, this could provide a catalyst for performance in shares other than technology.

Just as it is impossible to time markets, pick bottoms or tops, or predict election outcomes, it is not possible to know precisely when to diversify portfolios. Covid’s arrival has moved every asset price in the world. Covid’s departure will do the same. Extreme valuation differentials whether between COVID-defensives and COVID-cyclicals or between US and non-US equities are stronger indicators for action.

Valuation extremes may not resolve tomorrow or next month, but capturing such moves is where portfolio “alpha” is found.   

If you are a Citi Private Bank client you can check the value of your portfolio by reviewing your monthly statements or, if you use Citi Private Bank InView, by navigating to the Account Overview page via Portfolio → Overview. If you have any queries please contact your usual Citi Private Bank representative.

Read CIO Strategy Bulletin