John Forlines III, W.E. Donoghue’s Chief Investment Officer and Professor of Behavioral Finance at Duke University, joined George Moriarty of Investment News for a quick chat on how bear markets differ and why that should frame recovery expectations.
2024 is starting to produce volatility and we wanted to share our quarterly Market Commentary that incorporates all of our SMA product offerings (fundamental, rules-based, & blended strategies).
In our last commentary, we highlighted the changing macroeconomic environment and the risks to the current bull market. As a result, we de-risked our portfolios at the beginning of April.
2024 is off to an exciting start and we wanted to share our quarterly Markets in Motion that incorporates all of our SMA product offerings…
In 2024, we have seen US inflation repeatedly exceed expectations, gasoline prices creep higher, gold break out to all-time highs, feverish speculation in cryptocurrency and segments of the equity market
John A. Forlines, III is Chief Investment Officer of Donoghue Forlines (formerly W.E. Donoghue & Co., LLC) and Portfolio Manager for the Donoghue Forlines Global Tactical Portfolios (formerly the JAForlines Global Tactical Portfolios). He was formerly Chairman and CIO of JAForlines Global when it was an independent investment adviser. Mr. Forlines is an Executive in Residence in the Department of Economics at Duke where he teaches classes in behavioral finance and decision making.
During John’s time as Chairman and CIO of JAForlines Global, the firm was awarded Envestnet’s 2016 Strategist of the Year Award for the management of the Global Tactical Portfolio Suite. The Portfolio Team, under John’s continued leadership, was a finalist for Envestnet’s Strategist of the Year again in 2018, making JAForlines the only firm to become a finalist twice. Through a rigorous due diligence process, the firm was also selected by Envestnet’s PMC Team to be on the PMC Select List, or “Best Ideas” Managers derived through qualitative and quantitative analysis.
In addition to his work at Donoghue Forlines and Duke University, Mr. Forlines is the Managing Partner of the Forlines Family Office, which is active primarily in charitable support for education in the United States. Mr. Forlines enjoyed a long career with J.P. Morgan from 1985-2000, serving various roles within the firm, including Vice President of Structured Products, Co-Head of the U.S. Private Equity Group, Managing Director in the Securities Business Development Group and Managing Director and Co-Head of U.S. Tech, Media & Telecom Investment Banking.
Mr. Forlines is admitted to the practice of law in the State of New York; before his career at JP Morgan his legal work specialized in structured debt and equity products. Graduating from Duke University with Honors in English and Economics, Mr. Forlines has also earned his J.D from the Duke University School of Law.
Mr. Forlines has served on the Girl Scouts of America National Investment Committee and is on the Board of Shakespeare’s Globe in London and the Duke University Athletic Advisory Board. He is a Trustee of the North Shore Wildlife Sanctuary and the Ruth Z. Fleishman Foundation. John and his wife, Anne, have three children living in the New York area: a daughter working in the wedding and fashion industries, a daughter in medical school and a son employed in investment management.
Nick Lobley
is a Portfolio Manager for the Donoghue Forlines Global Tactical Portfolios (formerly the JAForlines Global Tactical Portfolios) and an investment committee member at Donoghue Forlines (formerly W.E. Donoghue & Co., LLC). Mr. Lobley is responsible for fundamental multi-asset research, portfolio construction, and ETF selection. He also acts as a source of communication for the portfolio team, bringing clients insight into the Tactical Allocation strategies.
Nick started with JAForlines Global as an Analyst when it was an independent investment adviser. He served as a trader, assisted in operations, and supported the research team. In April of 2018, he joined the Global Tactical Allocation Portfolio Management team as a senior research analyst. Prior to joining JAForlines Global, Nick was an Associate at Paley Advisors, where he supported partners in research, financial analysis, and marketing.
Nick earned a B.A. in Economics and a minor in Sociology from Oberlin College. At Oberlin, Nick was a star athlete on the Varsity Lacrosse Team, achieving the all-time school point record, winning the title of “Freshman Athlete of the Year” in 2013, and making All-Conference in 2016.
On weekends, Nick enjoys playing golf and spending time with his family, friends, and dog.
Rick Molari is the Chief Operating Officer of Donoghue Forlines, LLC (formerly W.E. Donoghue & Co., LLC). He is a principal, corporate officer as well as a member of Donoghue Forlines’ Investment Policy Committee. As part of Rick’s responsibilities on the investment committee he is involved in the design and maintenance of the technical asset allocation models applied to the fixed income and equity rotation strategies. He is also a co-portfolio manager to the Donoghue Forlines Mutual Funds (formerly the Power Mutual Funds) of which Donoghue Forlines is the Advisor.
Rick is an accomplished investment management operations and global trading specialist with over seventeen years of industry experience. He has extensive knowledge of international equity, fixed income and currency markets as well as back and middle office operations, portfolio accounting and compliance regulations. Rick joined W.E. Donoghue in 2014 to manage the trading and operations team.
Prior to his current role, Rick spent ten years at a multi-billion dollar Boston based global hedge fund, trading international equities and managing trade operations. He started his professional career in fund accounting and back office administration with State Street Global Advisors and later BISYS Hedge Fund Services Inc. Rick holds a dual Bachelor’s of Science degree from Northeastern University in Finance and Entrepreneurship. He is currently an active member of the CFA Institute, the Boston Security Analysts Society and the Boston Securities Traders Association.
Jeff Thompson is the Chief Executive Officer of Donoghue Forlines, LLC (formerly W.E. Donoghue & Co., LLC). In addition to being a principal of the firm, he is a member of Investment Policy Committee and co-portfolio manager to the Donoghue Forlines Mutual Funds (formerly the Power Mutual Funds). As part of Jeff’s responsibilities on the investment committee, he leads in the design and ongoing management of the technical signals and models applied to many of the firm’s investment strategies.
Jeff has been with W.E. Donoghue since 1998 and was the key driver for helping the firm develop its first pooled investment vehicle. He was instrumental in taking the firm’s commitment to offering tactical risk management for individual clients and families to establishing the indices and investment strategies that have grown to become the family of Power indices and funds. Prior to W.E. Donoghue, Jeff has held positions at Lehman Brothers, Gruntal & Co., Cowen & Co., and BTS Asset Management.