LC Investment Playbook Monthly Update April 2023

Model Portfolios

• An overview of the LC Model Portfolios, their characteristics and performances

Market Updates

• Investors Are Expecting Fed to Cut Rates
• Fed Historically Cut Before Each Market Bottom
• US Equities: Lacking Direction
• US Corporates Earnings Expected To Soften
• Put/Call Ratio: Investors Are Increasingly Hedging
• Mega cap tech names drive 1st quarter rally
• US Equities: Not Cheap Yet
• 65% Probability Of Recession in The US Over 1Y

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SpotLight

• De-dollarization Seems Supportive For Gold
• Zero cost collar on XAUUSD, with full downside protection and up to 10% upside participation

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Technical Analysis & Recent Trade Ideas

• Our technical analysis on Major Indices, Rising Volatility & Equities, Commodities, Defensives.
• Our team's recent trade ideas on various asset classes.

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