Paul Broughton

About Paul Broughton

Paul Broughton is an equity portfolio manager with ACM. Prior to joining the firm, he was a co-manager of the Salient Dividend Signal Strategy® portfolios. Prior to joining Salient in 2010, Paul held various roles in fixed income portfolio management and trading with Pacific Capital Bancorp and American Century Investments. He began his career with State Street in fund accounting. Paul is a CFA® charterholder and holds a Bachelor of Science in accounting and business administration from the University of Kansas.

The current news is very concerning and, to many people, very disruptive. We have fires raging in California and social unrest in many cities. The presidential debates got off to an unruly and ugly start. Voting by mail looks to be a divisive issue, and, in turn, may lead to a contested election outcome. The…

This past week the S&P 500 made a new all-time high and Apple reached $2 trillion in valuation. It would seem that the pandemic is already in the rearview mirror. After the shortest bear market in U.S. history, a brief 33 days compared to the median of 302 days for the prior twenty bear markets,…

Within just a mere few days in early March, the U.S. went from economic expansion and record low unemployment to a severe, deep contraction and record-high unemployment. The S&P 500 reflected this by falling 34% from its high on February 19th to the March 23rd low. And since that low, the S&P has rallied by…

Recent economic data, the spread of the coronavirus, falling interest rates, and a flattening yield curve may be giving investors pause. The S&P 500 dropped 1.5% Thursday and Friday to lock in a 1% decline for the month. Recent adverse news has been concerning and worth watching, but it can also be viewed as a…

As we approach year-end it’s appropriate to reflect on what’s taken place and how things look going into 2020. The current quarter, in particular, is representative of the entire year, in that the headlines seem to be so negative and concerning, even as the markets and economy are looking pretty decent. This quarter, we’ve been…

It’s mid-October which means fall football, playoff baseball, and beautiful fall scenery. This fall, however, financial markets still seem to be experiencing above average amounts of uncertainty due to ongoing trade disputes and concerns over slowing economic growth. And, quietly and somewhat reluctantly, the Federal Reserve Bank has increased its monetary accommodation and taken steps…

This past week the Congressional Budget Office (CBO) released an update to its economic outlook for the next decade.  It was largely just another news story that doesn’t get a lot of attention with all of the focus on trade concerns, curve inversion, etc.  But the federal deficit figures are large and getting ever LARGER: …

July 1st marked the point of the longest economic expansion in U.S. history which started on June 1, 2009.  And this past week saw all three major equity indices reach all-time highs.  In the first half of 2019, the S&P climbed 18.5%, having had its best first half since 1997.  The unemployment rate of 3.7%…

The market was caught off-guard when an anticipated trade agreement between the US and China has become a trade dispute. This led to a sudden increase in volatility and a drop of 4% in the S&P 500 index to start the first couple weeks of May.  First, the prospect that a trade deal with China…

With the Fed messaging that they are on “pause,” financial conditions have eased significantly and this has led to a very fast-paced and significant equity rally in last three months.  Since the low point of the steep market decline at the end of last year, the market, as measured by the S&P 500, is up…

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