Wells Fargo & Co Investment Institute 2020 Outlook Conference Call Transcript
Mr. Christopher, you may begin.
Thank you very much, Kyle, and a warm welcome to all of our listeners, and thank you very much for taking time this afternoon to hear about our 2020 market and investment outlook. Our theme this year and our title is 2020 Outlook--A Call for Resilience.
Well, what do we mean by resilience? Well, we think this long recovery is now -- this economic recovery is now the longest in history, recorded history, since 1857 and a very long bull market, has been very resilient. And we think resilience in portfolios in 2020 will be key because while we don't know the exact date and time of the next economic recession or contraction, nevertheless, we're in the latter part of that cycle and market conditions, we think, will be volatile. So there will be more, we think, ups and downs in markets this year. So it will be a time of testing, a time for investors to be resilient and to do what they can to make their portfolios resist a lot of this volatility.
I'm very
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