Pathstone is pleased to kick off a new interview series with some of the passionate and committed asset managers who head our recommended investment strategies. By offering a look behind the curtain of key strategies our team has implemented for client portfolios, we aim to share the depth and breadth of expertise and collaboration that goes into our investment process.

Our inaugural conversation features Alex Paulsen, the founder of Kilihune Research LLC. Alex has served as Portfolio Manager to the Pathstone Closed-End Fund (CEF) strategies for more than nine years. We have had the pleasure of working with Alex through major market events that have had significant impact on our use of CEF strategies. Alex was interviewed by Joseph Koch, CFA, Senior Analyst within the Investment Research team.

November was a strong month for overall market performance. Inflation data came in better than expected and investors jumped on the news, hoping for a Fed pivot in the near future. Both equities and bonds soared and the U.S. dollar weakened. International equities were the ultimate beneficiary and Chinese equities had their best monthly performance in years. Payrolls for November were strong and unemployed remained unchanged. Fed Chair Jay Powell continued to temper expectations and while the pace of rate hikes may slow, this does not mean a pivot in policy.

What is Property and Casualty/Liability Insurance?

Insurance is the primary method to manage risk when defined as the potential for financial and property loss. Property and Casualty Insurance are types of coverage that help protect your property and those covered by the policy in case of an accident.

Property Insurance protects the assets you own. The most common types of property insurance policies are:

• Homeowners
• Auto
• Renters
• Condo
• Power Sports (to cover property such as boats and golf carts)

These policies are used to help mitigate against the risk of loss to the respective property.

Casualty Insurance protects you or a family member covered under the policy against financial loss resulting from legal action. More specifically, casualty insurance will cover an accident that may result in bodily harm to someone on or using your property or if someone’s property is damaged due to something you did or did not do. Due to property and casualty insurance being bundled together, a homeowner’s policy will include a property/dwelling section. Additionally, it will include a liability coverage section that will help cover any legal costs for an accident up to a specified maximum amount per occurrence.