As just about everyone knows, there is a lot of uncertainty about the future course of the economy and - therefore - investment strategy for those with UC 403b plans and the like, and for the pension plan and endowment. Such concerns are generally reviewed by the Investments Committee of the Regents. However, yesterday, the Regents' Chief Investment Officer, Jagdeep Bachhar, had a Zoom conversation with the chair of the Regents' Investments Committee, Richard Sherman, and Torsten Slok of Apollo Global Management. About 200 viewers were on the call.
The most general take-away is that there is indeed a lot of uncertainty stemming from inflation, the Federal Reserve's response to inflation, global factors such as the war in Ukraine and supply-chain disruptions, domestic political developments such as the upcoming midterm elections, etc. Bachhar and Sherman emphasized long-term investment strategy over trying to time the markets.
You can hear an audio recording of the one-hour conversation at:
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