B.A., Dartmouth College
Chief Investment Officer, Portfolio Manager
Stacey Gilbert is Chief Investment Officer of Glenmede Investment Management LP (GIM) and co-portfolio manager of Derivatives. Ms. Gilbert oversees portfolio management, research and trading operations, and shapes investment strategy and implementation.
Prior to joining Glenmede, Ms. Gilbert served as the Head of Derivative Strategy at Susquehanna Financial Group. In this role, she led a team responsible for providing market commentary, actionable ideas and trading strategies driven by catalyst events, breaking news, and sector analysis. During her more than two decades at Susquehanna, she held several leadership positions, including key senior positions on the trading desk and the American Stock Exchange, trading both options and ETFs. Ms. Gilbert also led the company’s Education department.
Ms. Gilbert earned a Bachelor of Arts degree in mathematics and a minor in economics from Dartmouth College.
B.A., Dartmouth College
Insights by Stacey Gilbert
The Quarterly Statement: Q3 2022
Global fiscal tightening drove a volatile Q3 2022, with few hiding places from drawdowns. Market participants moved to riskier assets midquarter, discounting the Fed's tightening rhetoric. Has the market priced in negative news and expectations so that risk/reward is becoming more appealing?
The Quarterly Statement: Q2 2022
Inflation remained the dominant topic in the second quarter. There was a notable increase in market volatility as the Federal Reserve attempted to tame inflation through raising rates and reducing liquidity by beginning its balance sheet runoff. This shift resulted in a repricing of risk across the market, particularly in stock market valuations. We continue to view active small cap, active large cap and volatility strategies as attractive.
The Quarterly Statement: Q1 2021
A decrease in COVID-19 infections, solid Q4 2020 earnings reports and anticipated stimulus spending drove optimism in Q1 of a strong U.S. economic rebound. U.S. small-caps took the baton and led the pack in the quarter. The S&P 500 and Russell 1000 indexes posted their fourth consecutive quarter of positive returns. Value continued its upward run, with the Russell 1000 Value index outperforming the Growth index. Bond yields rose significantly on longer-dated securities, as rising rates attributed to the possibility of higher inflation.
Volatility - A Year Later
As the CBOE Volatility Index®, or VIX® Index, approaches the one-year mark of closing above 40, Portfolio Manager Stacey Gilbert provides a follow-up to last year’s Volatility: The Bumpy Road to Normal and highlights what we believe is an attractive opportunity for Volatility Risk Premium (VRP) strategies. In this edition of Charts and Chatter, Stacey assesses current volatility expectations given the macro environment and the possibility of continued volatility spikes throughout the year. She highlights the historical tendencies of volatility to cluster in high and low volatility regimes and the available Volatility Risk Premium (VRP) throughout these periods. She notes how starting levels can be a factor in asset allocation decisions and the unique nature of the current high volatility regime coinciding with new all-time closing highs in broader equity markets.