Phil Toews is the CEO of Toews Asset Management, which has more than $2 billion in assets.He told Insider why his firm is bullish right now, but very cautious about 2023 overall., so it's something of a surprise to hear he's taking some risks these days.
He explained that his international stock funds have been in bullish positions for more than a month, while his high-yield bond allocations switched to bullish for the first time in a long time earlier in January. Toews says that stocks keep making short-term rallies because investors think the Federal Reserve is about to pivot and take a more dovish approach to interest rates.
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