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  • David Grecsek, the director of research at Aspiriant, says inflation will run hot for months.
  • He originally bought into the “transitory” narrative, but his view on pricing pressures has evolved.
  • Here are the four sectors Grecsek prefers heading into 2022, as well as the ones he’s cool on.

Market narratives fluctuate nearly as much as stocks themselves.

Inflation is temporary, until it isn’t. Economic growth is too strong, experts say — before they decide growth looks too weak. Sector calls come and go, and S&P 500 predictions bob up and down as the winds of the investing world shift.

Much of this back-and-forth is unhelpful for investors — if not harmful, says David Grecsek, the managing director of investment strategy and research at Aspiriant, which manages roughly $14 billion in assets. He told Insider in a recent interview that, while portfolio positioning is important, focusing too much on day-to-day headlines and sentiment swings can backfire in the long term.

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