In an effort to inspire growth, central banks have pushed interest rates down to historic levels. In some countries, rates are negative. These low or negative interest rates are having adverse effects on savers, banks, as well as insurers. Listen to the audio archive or read the amended transcript of our conference call where Ron and Jeff their observations on this and other issues facing the economy, the markets, and investors.
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For the Top 20 Holdings and performance data as of the most recent quarter-end, refer to the SMA All-Cap Value Fact Sheet.
The opinions expressed are those of Muhlenkamp & Co. and are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.