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

SpotLight

• De-dollarization Seems Supportive For Gold

• Zero cost collar on XAUUSD, with full downside protection and up to 10% upside participation‍

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.