The chief investment strategist of JPMorgan Global Wealth explains why the worst thing investors can do right now is sit on cash — and shares 5 investment ideas

• As the dollar weakens in 2023, JP Morgan’s Tom Kennedy favors European and Chinese assets.
• Kennedy’s also bullish on equity sectors that fit into his “growth at a reasonable price” strategy.
• But his highest-conviction idea is that investors should rotate out of cash into fixed income.

Before making any macroeconomic predictions, the first step to Tom Kennedy’s investment process is figuring out what the market has already priced in.