Warnings of a recession have been numerous over the last six months, with the latest coming from Morgan Stanley’s Michael Wilson, who stated Monday that more tariffs will lead to a recession. Gerry Frigon, Chief Investment Officer at Taylor Frigon Capital Management, comments on what investors should keep in mind when faced with such uncertainty:
- Markets are forward-looking, and they represent the sum of what investors feel about future value
- As such, it is reasonable to conclude that many investors right now are acting as though the entire system is going to fail, or at least experience a significant contraction
- During times like this, our first point is that we do not believe the system is going to fail
- Investors today who are worried about change and uncertainty tend to forget that their parents or grandparents faced just as much change and uncertainty
- Looking back with the perspective of history we can see that there were also tremendous opportunities ahead of them, and decades of great prosperity in spite of all the errors that may have been made
- Change is the investor's only certainty
- Just realizing that fact is beneficial to the investor today, who faces new changes - and new and exciting opportunities
- Investors must be constantly alert and willing to change their opinions
- The upheavals of the 1960s and the 1970s and more recently in 2008 were not the end of American capitalism - far from it
- It’s important to remember that the future will not look exactly like any previous decade and current opinions and predictions will no doubt turn out to be only partly accurate
About Gerry Frigon, President & Chief Investment Officer at Taylor Frigon Capital Management
GERARD J. FRIGON is the President, Chief Investment Officer & Chief Compliance Officer of Taylor Frigon Capital Management LLC and is the Managing Member of Taylor Frigon Capital Advisors LLC, General Partner to Taylor Frigon Capital Partners LP, a private investment fund which invests in private companies and small emerging public companies. He is the Senior Portfolio Manager for the Taylor Frigon Core Growth Fund, an open-end investment company (TFCGX). He serves on the Board of Directors for ASOCS, Ltd. (a pioneer in virtual Radio Access Networks (vRAN) and a provider of fully virtualized, NFV- compatible virtual Base Station (vBS) solutions, based in Rosh Hayan, Israel), and I-V Access Technology, Inc. (a private medical device company committed to bringing their breakthrough catheter, VENAGLIDE, to the market to transform the venous access experience for patients and clinicians, based in San Luis Obispo, CA.)
Mr. Frigon has over three decades of experience in investment strategy, planning and portfolio management for private investors and institutions including over 21 years at Merrill Lynch in the San Francisco Bay Area. During that time, he has managed portfolios with the same disciplined process directly descended from the classic growth philosophy developed by Richard C. Taylor and Thomas Rowe Price.
Mr. Frigon received his Bachelor of Arts in Business/Economics from the University of California, Santa Barbara in 1985. He founded Taylor Frigon Capital Management LLC in 2006.