Investors should expect low returns over the long-term as valuations for most risk assets are stretched and yields remain low, said Casey Clark, vice president of investment strategy research for Glenmede Trust Company. Clark added that investors should position their portfolios with an overall below average risk posture considering that dangers associated with the latter stages of an economic cycle. He said quality defensive sectors such as consumer staples appear to be bid up. 'We are still favoring risk control and defensive strategies, while taking advantage of wide instar-sector valuation dispersion within equities,' said Clark.
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