1125 17th St
#2550
Denver, CO 80202
Stringer Risk Managed Strategies
- Phone: 800-955-9988
- Fax: 303-534-5627
1125 17th St
#2550
Denver, CO 80202
The outcome and duration of the Middle East conflict remain uncertain. What is clear is that...
Gary Stringer, CFA is a Senior Portfolio Manager at Shelton Capital Management. Prior to this role, he served as the President and Chief Investment Officer for Stringer Asset Management, LLC (SAM) and led the portfolio management efforts for the Firm’s separately managed account portfolios. In this role, he worked with the team to develop the Firm’s investment management process, strategic and tactical allocations, as well as security selection. Prior to co-founding SAM in February 2013, Mr. Stringer was a Managing Director at Morgan Keegan and Company, Inc. where he served as the Director of Investments for Morgan Keegan’s Wealth Management Services division. Mr. Stringer holds a Bachelor of Science degree in Marketing from the University of Maryland, as well as the Chartered Financial Analyst (CFA) designation, and is a member of the CFA Society Austin. He has also completed the Securities Industry Institute sponsored by the Securities Industry and Financial Markets Association and the Wharton School. Additionally, Mr. Stringer speaks at various industry conferences and is a frequent contributor to financial industry publications.
Kim Escue, CFA, serves as a Portfolio Manager at Shelton Capital Management. Previously, she was a Co-Founder and Senior Portfolio Manager at Stringer Asset Management, LLC, responsible for the daily management of both the Firm’s mutual funds and separately managed account portfolios, and spent over 15 years at Morgan Keegan & Company, Inc. as a Due Diligence Analyst and member of the firm’s Investment Strategy Committee. She earned a Bachelor of Business Administration and Masters of Business Administration from the University of Memphis. She also holds the Chartered Financial Analyst (CFA) designation and is a member of the CFA Society of Memphis. Additionally, Ms. Escue is a frequent contributor to various financial industry publications.
Chad Keller, CFP® is a member of the investments team and works on the quantitative analysis, factor-biases, and asset allocation of the assets under advisement and separately managed account portfolios. Prior to serving as Portfolio Manager at Shelton, Mr. Keller served as Portfolio Manager, Chief Operating Officer, and Chief Compliance Officer for Stringer Asset Management, LLC (SAM). Prior to co-founding SAM, Mr. Keller was a Senior Investment Specialist at Morgan Keegan and Company, Inc. where he worked with investment and economic data daily, and was responsible for monitoring the risk characteristics of several of the Firm’s discretionary models. Mr. Keller earned a Bachelor of Arts degree in Economics from the University of Tennessee and a Master of Business Administration from the University of Memphis. He also holds the Certified Financial Planner™ (CFP®) designation. Additionally, Mr. Keller is a frequent contributor to various financial industry publications.
Jonathan Bernstein, CIMA® is responsible for business development, marketing and communication. Prior to co-founding and serving as Vice President and Sales & Marketing Director for Stringer Asset Management, LLC (SAM), Mr. Bernstein was a Senior Vice President and the Director of Sales and Consulting at Morgan Keegan and Company, Inc. He has spent his career working with financial advisors on effective communication, objective consulting and best practice training. He is an accomplished and dynamic presenter with extensive experience in communication, project management, operations management, and is a frequent contributor to financial industry publications. Mr. Bernstein earned a Bachelor of Science degree in Business Administration and Finance from Brooklyn College and holds the Certified Investment Management Analyst® (CIMA®) designation. Living in Katy, Texas, he is married with three children and is a valued resource in his community.
As we enter 2026, the U.S. economic momentum continues based on the foundation of a solid private...
The U.S. economy appears poised for a measured and confident expansion into 2026 driven by a...
Inflation results from an interplay of demand-pull, cost-push, and built-in factors amplified by...
As investors enter the distribution phase of their financial lives, the priorities of portfolio...
Though we are getting limited amounts of economic data during the federal government shutdown,...
As the United States federal government shutdown continues, the political theater in Washington...
Our Cash Indicator methodology acts as a plan in case of an emergency, analogous to the multiple...
Gold and silver have staged remarkable rallies so far in 2025 and defied conventional wisdom...
Lately, headlines have been buzzing about the government shutdown and its potential impact on the...
The current U.S. fixed income landscape presents a compelling case for tactical allocation....
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The U.S. economy in late 2025 presents a complex but increasingly coherent picture. Labor market...
After decades of increasing global integration, signs of geopolitical and economic fracturing are...
The U.S. dollar has experienced a notable decline in value this year relative to a broad basket...
The U.S. economy grew at a surprisingly strong annualized rate of 3.0% in the second quarter of...
The U.S. economy remains resilient despite headline volatility tied to shifting trade and tariff...
As 2025 progresses, investors and policymakers are navigating a highly complex economic landscape...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
At this point, how the new budget bill turns out is anyone’s guess. Similarly, we are seeing a...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
Similar to the equity market’s response to the recently announced tariffs, the bond market...
Recent revisions to the IMF’s World Economic Outlook reflect a sobering message: the world...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The current market unrest over the potential for tariff increases and their impact is...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The equity market tends to see a correction every 18 months. If it’s not a...
The U.S. housing market has been a critical factor in the broader economic landscape, and its...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The decision to drill for oil is not primarily driven by government mandates or regulatory...
Investors should not be overly distracted by the recent spate of political headlines and social...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The U.S. economy has demonstrated remarkable resilience despite ongoing challenges. As we look...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The current U.S. stock market presents a complex landscape for investors with major indices...
The U.S. economy is experiencing a remarkable period of economic stabilization and growth...
China’s economic ascent over the past four decades has been a remarkable story of growth driven...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
From a purely economic perspective, this election is likely to have little broad economic impact...
The United States housing market has undergone significant transformations in recent decades with...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
With the backdrop of U.S. Federal Reserve (Fed) headlines in addition to the shifting narratives...
Few entities wield as much influence on the economy as the U.S. Federal Reserve (Fed). When the...
The yield curve measures the difference between short-term, intermediate-term, and long-term...
Discussion about more political oversight or political control of the U.S. Federal Reserve (Fed)...
In an election year, we are bound to hear a lot of commentary about the merits and drawbacks of...
Our*Cash Indicator*methodology acts as a plan in case of an emergency. This is analogous to the...
OurCash Indicatormethodology acts as a plan in case of an emergency. This is analogous to the...
The Cash Indicator (CI) jumped higher based on recent market volatility, then quickly settled...
In this fever pitched election cycle there will come a point where the conversation shifts to...
Our Cash Indicatormethodology acts as a plan in case of an emergency. This is analogous to the...
We are in unprecedented economic times as global central banks try to offset the inflationary...
July will mark the second anniversary of the longest yield curve inversion in U.S. history, which...
OurCash Indicatormethodology acts as a plan in case of an emergency. This is analogous to the...
The 1970s was a defining decade for the global economy marked by challenges like high inflation,...
Like we stated in 2022 when first quarter 2022 real gross domestic product (GDP) was negative,...
Our Cash Indicatormethodology acts as a plan in case of an emergency. This is analogous to the...
Join Gary Stringer in the brief video as he reviews why the GDP measure of growth understates...
U.S. Federal Reserve (Fed) policy will continue to play a large role in both fixed income and...
In 2023, we witnessed one of the narrowest equity markets over the last 100 years with only a...
Key Takeaways:
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
Our work suggests that continued strength in the private sector will drive economic growth in the...
Key Takeaways:
As we showed previously, inflationary pressures follow the change in the growth rate of money...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
Looking back at the S&P 500 Index in 2023, the return of the Index was dominated by a small...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The economy was more resilient over the course of 2023 than we had expected given the aggressive...
Previously, our biggest concern for the outlook of the economy had been that the U.S. Federal...
With this year’s equity market rally so narrowly focused on a few technology related companies...
The holidays are a time when family and friends tend to congregate at the family home. Your...
This is the same article I put out every year in November as the holidays approach. Every year I...
This year’s narrow equity market rally combined with declining bond prices have created a wealth...
This year’s narrow equity market has been a great example of how a broad index is not...
While money market and Treasury Bill rates look attractive and deserve an allocation in a...
As we have been writing about for the last few months, we are seeing attractive valuations across...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
There has been a lot of talk about this year’s narrow equity market rally. What is less discussed...
We manage risk tactically over the short-term by investing across a broad array of themes and...
All it takes is a little bit of patience and fortitude to reap what history suggests could be...
The U.S. manufacturing complex out produces every other country in the world except China. In...
In response to the COVID-19 pandemic lockdowns and financial market turmoil, the U.S. Federal...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
By Jonathan Bernstein
With heightened economic uncertainty, we are noticing an increased interest...
During times of uncertainty, we think that having a definable investment management process is...
In the realm of economics, a recession refers to a significant decline in economic activity that...
Investors benefit the most over time by making less emotional decisions with regards to their...
Our Three Layers of Risk Management
Our Cash Indicator methodology acts as a plan in case of an...
Housing costs make up approximately one-third of the Consumer Price Index (CPI) and are...
Our work suggests that we should be prepared for more economic and market turmoil in the...
The rise of China as an economic powerhouse has been accompanied by efforts to internationalize...
While the current landscape is challenging, we find many reasons to be optimistic about what the...
Our work suggests that the U.S. Federal Reserve (Fed) is likely done raising short-term interest...
Our work suggests that the U.S. will face significant economic challenges in the near-term. While...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
Global equity markets and have experienced a strong rally. The scenario includes a recession and...
Even though the overall size of the U.S. labor force recently hit an all-time high, employers and...
We have all seen the headlines about increased U.S. debt burden and higher interest rates....
The obvious reason to expect economic turmoil is that the full effects of the substantial risk...
The financial services industry has operated in a falling interest rate environment for decades,...
Our Cash Indicator methodology acts as a plan in case of an emergency. This is analogous to the...
The holidays are coming. Every year I sit down to update this article and I never do as I am...
Our model for inflation expectations is primarily driven by the level of broad money growth...
The stock market is not the economy. This is an extremely important concept for investors to keep...
Our three Layers of Risk Management: Cash Indicator methodology, strategic, long-term allocations...
The housing market is in turmoil and investors are rightly concerned. Our analysis of the housing...
With equity and bond markets down and recessionary risks building, many are wondering where we go...
Our work along with recent economic activity measures indicate that the economy continues to...
As we face midterm elections in the coming months, it is important to have some perspective on...
Recent reports are confirming that the pace of U.S. economic growth has clearly slowed as...
The U.S. Federal Reserve (Fed) is tightening monetary policy in an effort to bring down the rate...
Our Cash Indicator methodology acts as a plan in case of an emergency.
One of the tenets to successfully invest in equity markets is to buy low and sell high. With the...
The June jobs report made headlines with an additional 372,000 jobs created during the month,...
While there is no doubt that the U.S. economy will eventually enter a recession, it is important...
Though we are experiencing many global economic headwinds and challenges at this time, our...
The inflation that we are experiencing is mainly a result of U.S. Federal Reserve (Fed) policies...
Recent market weakness has created a challenging environment for investors, especially for those...
We made a call last year for a 3% 10-year Treasury yield, which was twice where the yield was at...
As investors attempt to navigate through the many risks in today’s global economy, we want to...
A year ago, in March 2021, headlines were abuzz with talk of the third round of stimulus, the...
Much of the focus of this month’s outlook will be on portfolio positioning given the current...
Our Cash Indicator methodology acts as a plan in case of an emergency.
Stock market volatility can be stressful, even frightening
Despite headwinds related to the ongoing pandemic, we see signs that the U.S. economy’s growth...
While we have no way of accurately forecasting the direction the pandemic will take, we have seen...
What started as a concerted effort by government entities including the U.S. Treasury and the...
Managing fixed income strategies in a low interest rate environment has been a challenge for...
We think the recent strength in the economy and labor market, coupled with persistent inflation,...
As we visit with investors, we are frequently asked about our outlook for the economy and how it...
On November 3rd, the U.S. Federal Reserve (Fed) announced that it will reduce, or taper, it’s...
Talking Points: Supply Chain Bottlenecks from Stringer Asset Management.
Recent shortages are not only due to COVID-19 related lockdowns restricting supplies. In many...
Supply chain disruptions have dominated the headlines over the past few quarters and created a...
Financial markets have begun to price in the possibility that the U.S. Federal Reserve (Fed) will...
While shortages for all manner of goods have been a hallmark of this pandemic induced recession...
At this stage in the economic recovery, those investors that stuck with their financial plan are...
During the depths of the COVID pandemic economic crisis, the U.S. Federal Reserve (Fed) committed...
The Infrastructure Investment and Jobs Act passed with a 69 to 30 vote in the Senate and is on...
Recent economic reports suggest that the blistering pace of growth is easing, and inflationary...
The real yield, which is the yield an investor receives after adjusting for inflation, on the...
The most recent Federal Open Market Committee (FOMC) meeting triggered a response in both equity...
Most of the economic indicators that we track, such as monetary conditions and business surveys,...
The housing industry has been a bright spot in the post-pandemic economic recovery, and we expect...
There are important distinctions between the real economy and the financial markets. We expect...
Global central banks have been largely accommodative as they battle the impacts of the pandemic...
Our work suggests that U.S. economic prospects continue to brighten. Higher long-term interest...
Jobs, economic growth, and inflation have been the focus as the recovery progresses. Starting...
Last September we published a commentary and video discussing the narrowness of the stock market...
Our outlook for the U.S. economy has improved. We now expect real GDP growth over the course of...
For investors and advisors, planning for income has been a consistent and escalating challenge...
The U.S. spent roughly $4.1 trillion over the nearly four years of direct involvement in World...
January 2021 will mark the transition to the Biden administration and with it former Chair of the...
Our work suggests that there are many reasons to be optimistic about the broad economy going into...
Asymmetrical risk and reward has always been a dilemma for fixed income investors, and the...
The great news on the success of the first COVID vaccine trials is a big step towards getting...
We recently examined the impacts of a post-COVID era on business, the consumer, and global trade....
One of the more challenging areas of the financial market over the past decade has been fixed...
One of the main reasons that presidential elections do not have a significant long-term impact is...
Fear of missing out and performance chasing are not joking matters. These behavioral traps have...
Our strategic and tactical work suggests that both the market and economic recoveries will...
It has been widely acknowledged that this year’s stock market returns have been led by a very...
As an ETF market strategist firm, we are in a constant search for specific ETF products that fill...
Our work suggests that U.S. economic growth is set to resume. This growth should create a...
As election day approaches and political news reaches a fever pitch, commentators are likely to...
The global markets experienced a remarkable second quarter rebound in both the equity and credit...
The U.S. economy peaked in February and began a recession in March. Our work suggests that the...
The number one question we get from both advisors and investors in this market is, “what should I...
Global measures of business activity accelerated in January, which supported our view that the...
By Gary Stringer, Kim Escue and Chad Keller,Stringer Asset Management
While election years may...
Staying with a disciplined and proven investment management process is key to achieving long-term...
From domestic politics and geopolitical risks to slowing economic growth and market volatility,...
As our process allows us to manage risk in real time, we have adjusted our Strategies to weather...
Imagine that state of California, a population of about 40 million people, without a single...
After a significant recovery in the first quarter, second quarter returns began to reflect fair...
The markets have provided the opportunity to realize what would be considered an excellent full...
We wrote a piece a year ago about tariffs and the potential economic implications of a trade war....
While the U.S. stock market is nearing all-time highs, some of our favored economic indicators...
The U.S. Federal Reserve has effectively shifted from a tightening monetary policy to a neutral...
Factor investing has gained in popularity over the past several years with the emergence of smart...
Global leading economic indicators suggest decreased economic growth ahead with the U.S. slowing...
We believe the greatest challenge facing investors when navigating financial markets is...
Overall, our base-case scenario is constructive and built on solid U.S. economic fundamentals...
We think that the recent equity market volatility is a typical correction and does not suggest a...
We think recent data is setting the stage for the U.S. Federal Reserve (Fed) to pause their rate...
When equity market volatility is the byproduct of significantly deteriorating economic...
As students and practitioners of behavioral finance, we understand how investors can be easily...
Despite recent market volatility, we think that the current business cycle will extend for at...
It can be difficult to balance the need for income while also providing thoughtful market...
U.S. economic growth will likely moderate as the Fed raises short-term interest rates to curtail...
Though we believe long-term fundamentals look attractive for oil and energy stocks, we expect...
Our economic models and analysis suggest that the pace of economic growth in the U.S. has peaked...
According to ThinkAdvisor, between 2007 and September of 2016, the number of CFP professionals in...
Our signals suggest that the recent volatility in the market has a lot to do with the downshift...
There were no surprises at the recent U.S. Federal Reserve’s (the Fed) FOMC Meeting. The target...
As we have been discussing for the last few months, the pace of global economic growth has...
Want to take your portfolio to the next level? Consider using alterative ETFS to generate...
While global economic fundamentals remain solid, we continue to expect volatility as the markets...
There are a few important spread indicators in the fixed income market that equity investors can...
We think the recent stock market volatility is likely to persist and that equity prices will...
With the announcement of proposed tariffs, the global markets reacted with a sharp sell-off and...
Though the economic and market headlines are full of interesting narratives, it is important to...
Investors have a right to be nervous given the age of the current business cycle and bull market,...
Market volatility tends to be persistent and can continue for a while. The current environment...
Achieving financial independence during retirement is the most important and most difficult part...
We expect global equity markets to grind higher during 2018, while interest rates and commodity...
According to research conducted by Cerrulli Associates in 2014, the average age of a financial...
Global economic growth for 2017 will likely be the strongest since 2011 according to annual GDP...
A Goldilocks economy may be defined as an economy that is neither too hot nor cold, sustains...
The primary risk to most investors’ portfolios are large stock market declines, and most large...
Our investment management process is built on the idea that behavioral economics is a major...
When looking at equity market performance over long periods of time, we see a decidedly upward...
While equity markets are not synchronized to a calendar, historically the U.S. equity market has...
ETFs share many similarities to the more established mutual fund industry, and a few important...
We think the U.S. Federal Reserve (Fed) is running out of room to move. The markets’ response to...
Developing capital market expectations is a crucial component of Stringer Asset Management’s...
Across the board, our strategies are roughly in-line with our long-term risk targets to equity,...
Over the past two decades we have been very fortunate to have worked with some very successful...
By Gary Stringer, Kim Escue and Chad Keller, Stringer Asset Management
We expect economic...
Outlook for emerging market stocks and bonds has dimmed on a risk-reward basis: apprehension is...
First quarter GDP growth was a sluggish +0.70%, largely due to slow consumer spending, in areas...
Our outlook continues to be constructive, though we think that the post-election rally has priced...
In the past, many Financial Advisors saw little value in actively managing fixed income. All one...
We continue to think that investors should ignore the political headlines when it comes to...
Recent statistics in the financial services industry point to a pending consolidation of clients...
As we have been discussing for months, from a strictly economic and financial markets...
In the current market environment, with equities near all-time highs and interest rates still...
We have increased our forecast for U.S. economic growth in 2017 as expansionary fiscal policy...
With the U.S. Presidential election over, and Republicans maintaining control of both the House...
Operation Twist was the media’s term for the U.S. Federal Reserve’s (Fed) actions in late 2011...
Now that the presidential election is behind us, we can look next to the U.S. Federal Reserve’s...
The financial services industry is a challenging entrepreneurial undertaking whose failure rate...
While the press and many investors are focused on the upcoming U.S. election, we remain focused...
Most equity market declines of 20% or more in the past have been associated with U.S. recessions....
The global equity markets have rallied on market confidence after the Brexit shock, as have...
We had been cautious about investing in emerging markets for the last few years and had avoided...
At the beginning of this year, we were concerned about a potentially major error by the U.S....
We think that profits can be made in these markets, but it will not be glamorous – it will...
Stringer Asset Management is risk-aware when looking at the fixed income market due to the...
We simply think our two largest risk factors, a U.S. Federal Reserve policy error and a currency...
After its March meeting, the Fed announced that it would slow the likely pace of short-term...
Market volatility not only creates an environment rife with behavioral errors, it can also rob...
The sharp rally in risk assets has caused many of these markets to go from showing signs of being...
The old Wall Street saying “don’t fight the Fed” may have lost its relevance recently as...
As a manager who combines a strategic, longer-term outlook with a more tactical, near-term...
Important Risk Information
State Street Global Advisors (SSGA) is now State Street Investment Management. Please click here for more information.
Investing involves risk including the risk of loss of principal.
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The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor.
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Not FDIC Insured – No Bank Guarantee – May Lose Value
5491895.4.1.AM.RTL
SPD004323
Expiration: 11/30/2026
A long-running debate in asset allocation circles is how much of a portfolio an investor should...
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