Meet Our Principals

Alton Cogert,
President & CEO

Mr. Cogert can help answer any questions related to these economic indciators, as well as your insurer or risk pool's investment strategy.

IIF Online: Halftime Report for Insurers & Risk Pools (Q2 '24)

Alton Cogert, CFA, CPA, CAIA, FDP, CGMA, President & CEO, Strategic Asset Alliance

Dan Smereck, Managing Director & Principal, Strategic Asset Alliance

Alton and Dan look back at the highlights and challenges we all face in the financial markets, and look ahead at the opportunities and risks in the economy for next year. They also share insights on navigating the complex and dynamic global markets as insurers work towards their financial goals and objectives.

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Key Takeaways

  • Sector performance was mixed for the quarter, with most sectors actually posting negative returns. The best performing were information technology and communication services. The worst performing sectors were materials and industrials.
  • Consumers show strength due to a tight labor market, but signs of stress are evident with suppressed sentiment, slowed spending on nondurable goods, and rising auto and credit card delinquencies. Despite these signs of stress, a tight labor market and rising real wages are positioned to offset dwindling savings and tighter credit conditions, supporting continued economic expansion into next year.
  • Higher yields provide a "yield cushion" that can help offset losses from rate movements, emphasizing the importance of investing in fixed income (other than cash) while yields remain elevated.
  • The classic 60/40 stock bond portfolio still looks attractive, but adding a sleeve of alternatives can help long term investors achieve strategic goals through higher alpha, better diversification and enhanced income. However, fees, illiquidity, and the structure of product offerings can be significant impediments to “alternative” investing.
  • Concerns regarding bank CRE exposures continue to mount, especially for smaller banks,

About SAA's Leadership >>