Daily Archives: November 6, 2015

Carter Investment Conference Recap

It’s Not Just a Conference, It’s a Community. And That’s What Matters.

It’s a wrap. We hosted hundreds at The 36th annual Carter Investment Conference, Oct. 10 who spent an entire Saturday with clients and colleagues that expect more than status quo wisdom about financial markets, economic policy and financial planning. We welcomed many who committed their day to hear first-rate perspectives from national financial experts.

From its 8 a.m. kickoff to the social reception in the afternoon, the Carter community gathered to learn, listen, question, examine and enjoy each other’s company. While all the speakers addressed key issues, insights and trends, we share a small portion of insights from two of the 12 conference guest speakers.

Highlights & Insights

James Camp took us to the crux of what clients consistently question us about: “How can I generate income in a low-yield environment?” Below is a small portion of his perspectives. Camp is managing director of fixed income at Eagle Asset Management. He began with two compelling retirement facts:

  • Nearly half of all American workers have less than $10,000 saved for retirement and nearly one-third of all American workers have less than $1,000 saved for retirement.
  • In 2010, American workers were $6.6 trillion short of what they need to retire comfortably, per a study conducted by Boston College’s Center for Retirement

Then he asked this question, “Based on what we know today, do fixed-income and equities make sense?” His final take-aways:

Fixed Income

  • Look for issues that offer proper compensation for the underlying risk. Know what you own.
  • Demographic trends may continue to favor municipals. Look closely at credit worthiness.
  • Diversification amongst the various fixed income sectors may lower the overall risk of a portfolio and lower down capture ratios thereby preserving capital.


  • Stocks may be attractive on a relative and risk-adjusted basis.
  • Demographic trends may continue to favor dividend-paying stocks as retiring baby boomers drive demand for income strategies.
  • Stocks that pay dividends have historically outperformed non-dividend-payers over the long term and with less volatility.
  • Diversify between stocks and bonds. We do not believe the outlook for the economy or markets prohibits investment success.

Another keynote speaker was Robert C. Doll, CFA, senior portfolio manager and chief equity strategist at Nuveen Asset Management. He is often a featured guest on CNBC and other national television programs. He spoke on “From Conflict to Clarity: Understanding Investor Sentiment.” Some key insights:

  • The U.S. economy. The biggest risk to the U.S. economy is the foreign backdrop (China continues to deteriorate, the Eurozone is tepid at best, Japan’s recovery is stalling, and Brazil and Russia in recession). Yet he also says the U.S. economy is relatively healthy:
    • 2Q GDP upward revision to 3.7%
    • Housing starts up 10.1% Y/Y
    • Existing home sales up 10.3% Y/Y
    • Bank loans up 7.6% Y/Y
    • Bank deposits up 6.3% Y/Y
    • Unemployment claims below 300,000 for 25 weeks in a row, a record
    • Positively sloped yield curve
    • Manufacturing PMIs over 50 in 71 of past 72 months
    • Mortgage rates below 4%
    • Further stimulus from lower oil prices
  • The job market continues to strengthen. For example, with private sector payrolls, there is 65 continuous months of growth, which is the longest streak since the 1930s. And employment? It has increased by approximately 3 million jobs in the last 12 months with Job growth that consists of 2.8 million full-time jobs and 0.2 million part-time jobs.

We are so appreciative for all the attendees, speakers and CFM team members who worked hard to make it all happen. Be sure to clear your schedule for next year’s conference. You don’t want to miss it.

For all of us, it’s not just a conference. It’s a community.

And that’s what really matters.                      

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of the speakers and not necessarily those of Raymond James. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Investments mentioned may not be suitable for all investors. Dividends are not guaranteed and must be authorized by the company’s board of directors. Investing involves risk and investors may incur a profit or a loss regardless of strategy selected. Past performance is not a guarantee of future results.