TY - JOUR T1 - Macroeconomic Dashboards for Tactical Asset Allocation JF - The Journal of Portfolio Management SP - 50 LP - 61 DO - 10.3905/jpm.2018.44.2.050 VL - 44 IS - 2 AU - David Clewell AU - Chris Faulkner-Macdonagh AU - David Giroux AU - Sébastien Page AU - Charles Shriver Y1 - 2017/12/31 UR - https://pm-research.com/content/44/2/50.abstract N2 - A wide body of academic literature suggests that macro factors can be significant drivers of asset returns. And among practitioners, statements such as “stocks make money in expansions and tend to lose money in recessions” are often held as self-evident. However, there is little published on how to use these factors to inform investment decisions. From a practitioner’s perspective, the authors show how to build dashboards to integrate macro factors into a broader discretionary tactical asset allocation process. Importantly, their goal is not to design stand-alone systematic trading strategies based on macro factors. Rather the authors believe that investors should build macro factor dashboards to introduce discipline into their asset allocation process, in combination with other inputs, such as valuations.TOPIC: Analysis of individual factors/risk premia ER -