July 23, 2025
Commentary: NCM Core Global and NCM Core International
Portfolio Manager Phil D'Iorio, MBA, CFA reviews Q2 2025 and provides a look into corporate earnings and other economic data.
Download the full commentary here.
"Bringing it all together, we have a cautiously optimistic outlook for global equities. Corporate earnings are rising, interest rates have declined in the U.S. and Europe with the potential for further cuts, and energy prices have declined."
Author
Phil D'Iorio, MBA, CFA
I search around the globe for best-of-breed companies trading at attractive valuations. And I spend a significant amount of time thinking about portfolio construction to ensure that the portfolio is optimized to reflect where we are in the cycle.