Citi CIO Asks What Are Cash-Hugging Stock Investors Waiting For
- Global wealth arm expects improved investing backdrop in 2024
- ‘Market timing is what kills portfolios:’ Citi’s David Bailin
The firm says its projections for long-term returns on core portfolios have doubled from two years ago on rising bond yields and falling stock valuations.
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Stocks are ripe for further gains in 2024 as inflation trends lower, the economy remains resilient and earnings rebound — increasing the opportunity cost for investors still sitting on the sidelines, clinging to their cash.
That’s according to David Bailin, Citi Global Wealth’s chief investment officer and head of investments, who says looking for a signal to get back into stocks and bonds while trying to time the market is harming portfolios.