Brad McMillan, CFA, CAIA, MAI

Brad McMillan, CFA®, CAIA, MAI, is chief investment officer at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. As CIO, Brad chairs the investment committee and is the primary spokesperson for Commonwealth’s investment divisions. Brad received his BA from Dartmouth College, an MS from MIT, and an MS from Boston College. He has worked as a real estate developer, consultant, and lender; as an investment analyst, manager, and consultant; and as a start-up executive. His professional qualifications include designated membership in the Appraisal Institute (MAI), the CFA Institute, and the CAIA Association. Brad speaks around the country on investment issues and writes for industry publications, as well as for this blog.
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Recent Posts

Coronavirus Update: August 14, 2020 [Video]

August 14, 2020

Today, I'd like to provide an update on the coronavirus, including the effects on the economy and markets. We had some good news on the pandemic front this week, with the virus now back under control. Nationally, the daily spread rate is down to around 1 percent per day, and the daily number of new cases has held steady at about 55,000. Plus, the data shows that outbreaks are being contained in most states. One area of concern is testing. The number of tests has trended down over the past two weeks, and the positive rate remains well above what it should be.

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Monthly Market Risk Update: August 2020

August 14, 2020

My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Market Risk Update. Thanks for the assist, Sam!

Markets continued to rise in July, showing the second wave of the pandemic was not enough to derail the economic recovery. The S&P 500 increased by a strong 5.64 percent during the month. The Nasdaq Composite and Dow Jones Industrial Average (DJIA) also saw positive performances, marking a solid start to the third quarter. Although the continued market rebound in July was certainly welcome for investors, very real risks to markets remain, as we can see when we look at the key factors that matter when determining the overall risk level.

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Medical Risks Contained, But Economic Risks Have Risen

August 13, 2020

The good news is that the second wave of infections looks to have peaked and turned back down in the past two weeks. Case growth is down significantly from the peak, and the case growth rate has ticked back down to the lows seen in mid-June. Two weeks ago, we discussed the peak of the second wave, and this decline is the next step. The data indicates that, in most states, outbreaks are being contained.

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Appearance on CNBC’s The Exchange, August 12, 2020 [Video]

August 13, 2020

Yesterday I appeared on CNBC’s The Exchange to discuss the sectors I favor right now and the markets. 

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Economic Risk Factor Update: August 2020

August 12, 2020

My colleague Sam Millette, senior investment research analyst on Commonwealth’s Investment Management and Research team, has helped me put together this month’s Economic Risk Factor Update. Thanks for the assist, Sam!

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How Will the Presidential Election Affect the Stock Market?

August 11, 2020

We’ve reached that point in the election cycle where I've started getting questions, from both sides, about the effect of the upcoming election on the markets. “Surely,” the question goes (and note that it is not really a question), “if Candidate X wins, the market will tank for the following reasons . . .”

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Market Thoughts for August 2020 [Video]

August 3, 2020

Overall, July was a good month for the markets. As the month began, we saw strong job gains, declining layoff numbers, and rising consumer confidence and spending. Markets rose on this good news. But then infection counts went up, leading to state-level closures. This shift hit hiring and confidence, slowing the recovery. As a result, several market indices declined from their midmonth levels.

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