Covington Investment Advisors, Inc. Blog

News, Tips, Commentary, etc.

Covington Advisors' Cindy Jones Becomes CFA Charterholder

Covington Investment Advisors, Inc. is pleased to announce that Cindy Jones has earned the Chartered Financial Analyst (CFA) designation.  This designation requires successfully completing a series of three exams covering a wide range of topics related to financial analysis.  In addition to passing the exams, other requirements include having relevant work experience, submitting professional references, and adhering to the Code of Ethics and Standards of Professional Conduct of the CFA Institute.  Additionally, she holds the Series 65: Uniform Investment Advisor Law license. Cindy joined Covington in 2012 as Assistant Portfolio Manager and currently holds the positions of Portfolio Manager and Chief Compliance Officer.  She earned a Bachelor of Science degree in Applied Mathematics with additional studies in Computer Science and Statistics from the University of Pittsburgh.  As Portfolio Manager, Cindy oversees the firm’s investment committee’s processes for determining the buys, sells and holds of all the securities held by the...
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Preparing for 2021

Although we try each year to forecast and plan for what the market will hold for us, 2020 again proved that a new year almost always brings surprises in one form or another. Being prepared with a plan as we have for you, and sticking to proven investment principles including creating diversified portfolios has proven once again the keys to achieving long-term financial goals. Please find attached our Economic Outlook for January 2021.  2021-Economic-Outlook.pdf
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The Armageddonists

Market drawdowns and Bear Markets are a reality when it comes to investing in the equity markets. Part of the reason equity holders receive a higher long-term return over ‘safer’ investments such as bonds is that they take on additional risk and the likelihood that their investment will be negative over stretches of time. Of course no investor wants to experience their investment losing money but this year illustrates perfectly why sticking to a plan and staying invested while owning proven enterprises with strong balance sheets is the prudent approach. This fact of investing is nothing new but the rise of social media and the competitiveness for media headlines since 2010 have given way to a flood of negative market calls which naturally appeals to human negativity bias and our survivorship instincts. This appeal strategy has worked in part because the flood of calls followed two of the deepest bear...
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Promising Vaccine Data

Early last week Pfizer announced data on the clinical trial of their COVID-19 Vaccine candidate which was followed up this week by results from Moderna. It’s easy to see why there is so much excitement over the news as the reported 90 and 94.5 percent effectiveness would put the vaccine on par with the Chickenpox, Mumps, Polio, and Whooping Cough vaccine, and much further ahead than our typical flu vaccine. The logistics of distributing the vaccine will be difficult and likely take months but progress in the development aspect is hopeful. The news comes at the same time that daily cases and hospitalizations are reaching all-time highs. We now have more clarity on what the end destination looks like (vaccine rollout and distribution in second half of 2021) but perhaps less clarity on the path as the spike in cases will weigh on consumer spending in the near-term. At the...
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What to Take Away from Election Night

  Although a presidential winner may not be determined until potentially the end of the week, one takeaway from election night is that the Republicans will likely keep control of the senate, meaning congress will be divided. This could be partially responsible for the large rally in equities following last night’s initial election results. Historically, equity markets have performed well in this environment with stocks being higher in the last ten years with a split congress. Although this election is far from over with a recount/legal challenge likely, a split congress actually adds some clarity as any significant legislative bill for either party will be difficult to pass. This includes a repeal of the 2017 Tax Cuts & Jobs Act which we wrote about in June and can be found here.     Commentary Disclosures: Covington Investment Advisors, Inc. prepared this material for informational purposes only and is not an...
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Covington Investment Advisors, Inc.
301 E. Main Street
Ligonier, PA 15658
Phone: 724-238-0151
Fax: 724-238-0148
Email: covington@covingtoninvestment.com