--- title: Weekly Portfolio Update - 7/18/2017 description: 7/18/2017 - Weekly update on 4Thought Financial Group's Separately Managed Accounts for Investors image: https://www.4tfg.com/hubfs/Blog/4Thought-WeeklyUpdate.jpg --- [![4thought_footer-logo.png](https://www.4tfg.com/hs-fs/hubfs/4thought_footer-logo.png?width=335&height=101&name=4thought_footer-logo.png "4thought_footer-logo.png")](https://www.4tfg.com/) - [![4Thought Financial Group](https://www.4tfg.com/hubfs/4thought_footer-logo.png)](https://www.4tfg.com/) [![4Thought Financial Group Compass](https://www.4tfg.com/hubfs/4Though-Compass.png)](https://www.4tfg.com/) - [About 4Thought](https://www.4tfg.com/investment-methodology) - [Our Investment Methodology](https://www.4tfg.com/investment-methodology) - [Management Team](https://www.4tfg.com/management) - [In the Media](https://www.4tfg.com/media) - [Contact](https://www.4tfg.com/contact) - [Services](https://www.4tfg.com/investing) - [Private Individual Investing](https://www.4tfg.com/investing) - [SMAs for RIA /Institutional /Family Office](https://www.4tfg.com/financial-advisors-and-institutions) - [Services for CPAs](https://www.4tfg.com/cpa-investing-services) - [Private Wealth Management](https://www.4tfg.com/wealth-management) - [Retirement Plan Services](https://www.4tfg.com/retirement-plan-services) - [Resources](https://www.4tfg.com/resources) - [Financial News](https://www.4tfg.com/resources) - [Portfolio Review](https://www.4tfg.com/portfolio-review) - [Investment Performance](https://www.4tfg.com/performance-requests) - [CPA Continuing Education](https://www.4tfg.com/cpe-continuing-education) - [FAQs](https://www.4tfg.com/faq) - [FAQs](https://www.4tfg.com/faq) - [Contact](https://www.4tfg.com/contact) - Log In - [Goldman Sachs Accounts](https://www.folioclient.com/servlets/ProcessAction?identifier=loginFormEntry&user.mode=IAC) - [Wealth Management](https://wealth.emaplan.com/ema/SignIn?ema) - [Consolidated Reporting](https://client.myadvisorlink.com/auth/users/webportal/4tfg) - [Retirement Plan Services](https://www.4tfg.com/rps-login) - - Log In - [Goldman Sachs Accounts](https://www.folioclient.com/servlets/ProcessAction?identifier=loginFormEntry&user.mode=IAC) - [Wealth Management](https://wealth.emaplan.com/ema/SignIn?ema) - [Consolidated Reporting](https://client.myadvisorlink.com/auth/users/webportal/4tfg) - [Retirement Plan Services](https://www.4tfg.com/rps-login) ## 4Thought Investing Resources ## 4Thought Investing Resources [Financial News](https://www.4tfg.com/resources/) [Investment Strategy](https://www.4tfg.com/resources/topic/investment-strategy) [Personal Finance](https://www.4tfg.com/resources/topic/personal-investing) [Business Finance](https://www.4tfg.com/resources/topic/business-finance) [For Professionals](https://www.4tfg.com/resources/topic/financial-professionals)[Compass and Crosshairs](https://www.4tfg.com/resources/topic/compass-and-crosshairs) SUBSCRIBE Subscribe for free tips and articles to help you lead a smarter financial life. [Financial News](https://www.4tfg.com/resources) ,[Performance](https://www.4tfg.com/resources/topic/performance) # Weekly Portfolio Update - 7/18/2017 7/18/2017 - Weekly update on 4Thought Financial Group's Separately Managed Accounts for Investors \[fa icon="calendar"\] Jul 18, 2017 12:41:38 PM by [Jesse Mackey](https://www.4tfg.com/resources/author/jesse-mackey) Strategy Performance Data ### **Download Our Performance Reports** ![GIPS Report](https://www.4tfg.com/hs-fs/hubfs/GIPS/4Thought_GIPS_Performance_GSA-1.jpg?width=130&name=4Thought_GIPS_Performance_GSA-1.jpg "GIPS Report") 4Thought Financial Group’s separate account strategies are managed with repeatable algorithmic processes so they can be consistently competitive. See how the actual client accounts in each strategy have performed. --- This notification for the week of 7/18/2017 is part of an ongoing series of updates intended to keep you informed about the changes occurring in your 4Thought Financial Group separately managed accounts (SMAs) each week. The information is broken into the constituent model portfolios we use to manage client investment advisory accounts. Please contact your advisor(s) directly for any more in-depth information related to your personal portfolio or for clarification on which models/strategies apply to you. Occasionally we may provide general commentary, as well as planning techniques and ideas. Make sure to discuss with your advisor whether these are applicable to your situation before taking any actions with regards to your financial plan or investment portfolio.    ## Valuation of Investment Methods: **• Liability-Driven Investing (for Bear Markets)**: Currently fairly valued (on an absolute basis), and it is the most attractively priced of the four method categories (on a relative basis) based on the measured average of our fixed income focused and risk transfer strategies. **• Strategic Asset Allocation (for Bull Markets)**: Currently overvalued (on an absolute basis), and it is the second-most attractively priced of the four method categories (on a relative basis) based on the measured average of our diversified (primarily stock) portfolio strategies. **• Selective/Concentrated Investing (for Eagle Markets)**: Currently overvalued (on an absolute basis) and it is the third-most attractively priced of the four method categories (on a relative basis) based on the measured average of our private equity like strategies. **• Opportunistic Investing (for Wolf Markets)**: Currently overvalued (on an absolute basis) and it is the least attractively priced of the four method categories (on a relative basis) based on the measured average of our hedge fund like strategies. ## Perspective and Positioning: **• For all investors:**  Non-US stocks (emerging markets in particular) and private equity continue to lead by year-to-date performance for 2017, with US small cap stocks and US bonds of various types continuing to lag. Most stock types globally are slightly to moderately overvalued (expensive), with US large cap growth and emerging markets measured as the most expensive currently, and US mid cap stocks the least expensive. Shorter term and higher credit quality bonds are becoming increasingly undervalued while high yield bonds continue to be measured as overvalued. The overvaluation of the Strategic Asset Allocation investing method and global stocks as a whole point to the continued use of a somewhat cautious approach to cash deployment (see below "How Investors Can Take Action" for more info on this). How Investors Can Take Action: **• For all investors:**  As always, remember to contact your advisor(s) to notify them if any of the following have recently changed for you: Life circumstances (Family, career, home, business, etc.); Financial goals; Lump sum cash needs; Monthly income needs; Bank account cash balances; Other assets or liabilities; Your attitude towards risk. Significant changes in any of these areas may require a reallocation of your investment portfolio. **• For growth investors:** Temporarily reduce the amount of your systematic investments of earned income into your investment portfolio so that the total annual contribution amount is slightly less than your calculated available annual savings (Total earned income, minus living expenses, minus taxes, equals available annual savings). Slightly under-contribute to your investment portfolio and leave a little more cash in the bank than normal. Use a somewhat cautious approach to contributions (not too much) based on current asset and method valuations. Consult with your advisor on this prior to taking action. **• For income investors:** Temporarily increase the amount of your systematic withdrawals from your investment portfolio so that the total annual withdrawal amount is slightly more than your calculated portfolio income need (Portfolio income need equals annual living expenses, plus taxes, minus any non-portfolio income). Withdraw slightly more from your investment portfolio and keep a little more cash in the bank than normal. Use a somewhat aggressive approach to withdrawals (not too little) based on current asset and method valuations. Consult with your advisor on this prior to taking action.   ### **This information, along with details and actions specific to each 4Thought SMA, is emailed weekly to investors and interested advisors.** **To learn more about investing with 4Thought [contact us here](https://www.4tfg.com/contact) or learn more about our [Investment Methodology here](https://www.4tfg.com/investment-methodology).** ### Author: Jesse Mackey ![](https://www.4tfg.com/hubfs/Email/JesseMackey-EmailSignature.png) [mailto:jmackey@4tfg.com](mailto:jmackey@4tfg.com) Jesse Mackey is the Chief Investment Officer of 4Thought Financial Group, an SEC Registered Investment Adviser (RIA). As head of the firm's portfolio management operations, he provides investment planning and portfolio management expertise to aid affiliated financial advisors and partner firms in servicing their clients. He is also director of the economic theory, research, and publishing conducted at the firm. Jesse earned his MBA from Thunderbird School of Global Management in International Securities Investment, International Development and Entrepreneurship, and his Bachelor’s degree from Colgate University in Economics. He has more than 16 years of experience in the financial services industry. He holds the Series 66 Securities/Advisory license, and is also a licensed life and health insurance representative in several states. 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Investment Advisory Services are offered through 4Thought Financial Group Inc., an SEC Registered Investment Adviser. Registration does not imply a certain level of skill or training. The content presented here is for informational purposes only and does not constitute a complete description of our investment advisory services or performance. This website is in no way a solicitation or offer to sell securities or investment advisory services except, where applicable, in states where we are registered (or notice filed) or where an exemption or exclusion from such registration exists. Information throughout this site, including, but not limited to, stock quotes, charts, articles or any other statement or statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. 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Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors. \*4Thought Financial Group claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. The GIPS firm definition excludes any third party asset management programs over which 4Thought maintains oversight advisory agreements on behalf of its clients, any arrangements under which 4Thought provides recommendations for client self-implementation, and any assets under advisory but not under direct management (in which 4Thought provides allocation changes or trading signals to third party firms but does not take discretion over the trading of client accounts). GIPS-compliant performance information for 4Thought's strategies may be obtained by email at [info@4tfg.com](mailto:info@4tfg.com); on the 4Thought website at [www.4tfg.com/performance-requests](https://www.4tfg.com/performance-requests); or by phone at (516) 300-1617. Disclaimer [Form CRS, Firm Brochure (ADV Part2), Privacy Policy Notice, and Wrap Fee Program Brochure](https://www.4tfg.com/hubfs/Firm_Brochure_ADV_Pt2-Privacy_Policy-Wrap_Fee_Program_Brochure.pdf) [Disclosure](https://www.4tfg.com/disclosure) [BrokerCheck](http://brokercheck.finra.org/) Investment Advisory Services are offered through 4Thought Financial Group Inc., an SEC Registered Investment Adviser. Registration does not imply a certain level of skill or training. The content presented here is for informational purposes only and does not constitute a complete description of our investment advisory services or performance. This website is in no way a solicitation or offer to sell securities or investment advisory services except, where applicable, in states where we are registered (or notice filed) or where an exemption or exclusion from such registration exists. Information throughout this site, including, but not limited to, stock quotes, charts, articles or any other statement or statements regarding market or other financial information, is obtained from sources which we, and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Nothing on this website should be interpreted to state or imply that past results are an indication of future performance. Neither we nor our information providers shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in the transmission thereof to the user. THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION POSTED ON THIS OR ANY LINKED WEBSITE. Any opinions presented here are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment prior to investing. Investments are not guaranteed, involve risk and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors. \*4Thought Financial Group claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein. The GIPS firm definition excludes any third party asset management programs over which 4Thought maintains oversight advisory agreements on behalf of its clients, any arrangements under which 4Thought provides recommendations for client self-implementation, and any assets under advisory but not under direct management (in which 4Thought provides allocation changes or trading signals to third party firms but does not take discretion over the trading of client accounts). GIPS-compliant performance information for 4Thought's strategies may be obtained by email at [info@4tfg.com](mailto:info@4tfg.com); on the 4Thought website at [https://www.4tfg.com/performance-requests](https://www.4tfg.com/performance-requests); or by phone at (516) 300-1617. ```json { "@context" : "http://schema.org", "@type" : "Organization", "address" : { "@type" : "PostalAddress", "addressCountry" : "", "addressLocality" : "Syosset", "addressRegion" : "New York", "postalCode" : "11791", "streetAddress" : "6851 Jericho Turnpike Suite 120" }, "alternateName" : "4 Thought Financial Group", "areaServed" : { "@type" : "GeoCircle", "geoMidpoint" : { "latitude" : "+40.8100713", "longitude" : "-73.5172286" }, "geoRadius" : "150 km" }, "description" : "7/18/2017 - Weekly update on 4Thought Financial Group's Separately Managed Accounts for Investors", "email" : "[GDelorenzo@ClearHorizonGroup.Com, info@4tfg.com, no-reply@4tfg.com]", "image" : "https://www.4tfg.com/hubfs/4Thought-Financial-Group-OG.jpg", "logo" : "http://cdn2.hubspot.net/hubfs/2201374/4thought_header-logo.png", "naics" : "523920", "name" : "4Thought Financial Group", "sameAs" : [ "https://www.facebook.com/4ThoughtFinancialGroup", "https://www.linkedin.com/company/3043702", "https://www.youtube.com/channel/UCEHRK-25mAwfTlNzdvFSN3g", "http://investment-advisors.credio.com/l/39493/4thought-Financial-Group-Inc" ], "telephone" : "516-300-1617", "url" : "http://www.4tfg.com" } ``` ```json { "@context" : "http://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Organization", "name" : "Jesse Mackey" }, "dateModified" : "August 11, 2017, 3:16:47 PM", "datePublished" : "2017-07-18 16:41:38", "description" : "7/18/2017 - Weekly update on 4Thought Financial Group's Separately Managed Accounts for Investors", "headline" : "Weekly Portfolio Update - 7/18/2017", "image" : { "@type" : "ImageObject", "url" : "https://www.4tfg.com/hubfs/Blog/4Thought-WeeklyUpdate.jpg" }, "mainEntityOfPage" : { "@id" : "https://www.4tfg.com/resources/weekly-portfolio-update-170718", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "http://cdn2.hubspot.net/hubfs/2201374/4thought_header-logo.png" }, "name" : "4Thought Financial Group" } } ```