2022 OUTLOOK

The Next “Unprecedented” Year

“Unprecedented.” It’s used so often during the pandemic you may think unusual events rarely happened before. That’s an illusion. Marvels never cease, unusual things always occur. 2022, just like every other year, will be “unprecedented” in its own way.

Horizon Investments’ Q3 Focus Report concentrates on next year’s challenges, details the important themes we’re watching, and explains how our portfolio managers separate the signals from the noise to guide our portfolios. The flickering TV screens motif illustrates the challenge of staying focused in a torrent of information.

Horizon’s portfolio management team’s goal is to help financial advisors by operating a robust information and analysis distillation process to navigate an evolving world. We embrace “unprecedented,” so we can help deliver the “expectational certainty’’ that a goals-based financial plan rests on. We thank advisors for the opportunity to partner with them as they guide clients in their financial journey. Empower the Advisor!

– John Drahzal, President; Scott Ladner, Chief Investment Officer

2022 OUTLOOK

The Next “Unprecedented” Year

“Unprecedented.” It’s used so often during the pandemic you may think unusual events rarely happened before. That’s an illusion. Marvels never cease, unusual things always occur. 2022, just like every other year, will be “unprecedented” in it’s own way.

Horizon Investments’ Q3 Focus Report concentrates on next year’s challenges, details the important themes we’re watching, and explains how our portfolio managers separate the signals from the noise to guide our portfolios. The flickering TV screens motif illustrates the challenge of staying focused in a torrent of information.

Horizon’s portfolio management team is trusted by financial advisors to operate a robust information and analysis distillation process to

navigate an evolving world. We embrace “unprecedented,” so we can help deliver the “expectational certainty’’ that a goals-based financial plan rests on. We thank advisors for the opportunity to partner with them as they guide clients in their financial journey. Empower the Advisor!

– John Drahzal, President; Scott Ladner, Chief Investment Officer

ECONOMY 2022

INFLATION

THE FEDERAL RESERVE

CHINA OUTLOOK

2022 MARKET DRIVERS

2022 EARNINGS

SIGNAL TO NOISE

The commentary in this report is not a complete analysis of every material fact in respect to any company, industry or security. The opinions expressed here are not investment recommendations, but rather opinions that reflect the judgment of Horizon as of the date of the report and are subject to change without notice. Opinions referenced are as of the date of publication and may not necessarily come to pass. Forward looking statements cannot be guaranteed. We do not intend and will not endeavor to provide notice if and when our opinions or actions change. Horizon Investments is not soliciting any action based on this document. This document does not constitute an offer to sell or a solicitation of an offer to buy any security or product and may not be relied upon in connection with the purchase or sale of any security or device. Information has been obtained from sources considered to be reliable, but the accuracy and completeness cannot be guaranteed. Horizon Investments and the Horizon H are registered trademarks of Horizon Investments.

NOT A DEPOSIT | NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
NOT GUARANTEED | CLIENTS MAY LOSE MONEY | PAST PERFORMANCE NOT INDICATIVE OF FUTURE RESULTS

© 2021 Horizon Investments, LLC.
HIM102021
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