Resources

Our in-house portfolio managers regularly publish reports and data focusing on timely topics affecting the markets, the financial services industry and/or portfolio construction.

      1. ETF's : Facts & Fantasies

        In the face of ongoing concerns associated with rising interest rates, Fed intervention and the geopolitical risks surrounding the horrible events playing out in Syria, investors saw virtually all markets lose ground in August. As laid out below, only one sector of the major markets was positive last month, and that was commodities. Unfortunately, the strength in commodity prices was driven in large part by the uncertainty caused by the civil unrest and geopolitical concerns out of the Middle East, namely Syria

      2. It's tempting....but don't do it.

        For those who may not be paying attention, stock markets across the globe have been doing well recently. On a year-to-date (YTD) basis, stocks (as measured by the All Country World Index (MSCI ACWI)), have returned over 20%. Even emerging market equities, which have generally lagged developed markets over the last 5 years, are up about 30% for the year. Since the market “bottomed” in February 2016, the broader indices are up about 50%, including dividends.

      3. Volatility

        Volatility in the stock market has seemingly vanished. When considering that there have been only 4 days where the S&P 500 has fallen by 1% or more so far this year, it feels like the only inherent risk when investing in stocks, is the risk of not being invested. By way of reference, the S&P 500 fell by 1% or more on 22 days in 2016. The last bouts of volatility were not that long ago, when investors were contemplating the risk around the flash crash of August 2015, the Brexit vote, falling oil prices and the presidential election.

      4. Does it still make sense to own Alts?

        Given an increased interest surrounding the role of alternatives in the context of portfolio construction, it seems fitting to address the role that alternatives play in a well-diversified portfolio.

      5. Battling Recency Effect

        Since this market has yet to see a headline it didn’t like, many investors are expecting a continuation of low volatility and higher market levels into the fall and winter months.

      6. Surviving and Thriving in a Recession

        Lately I’ve been asked by a few investors if we think a recession is in our immediate future. I suspect the reason for the questions is some combination of the media, political tension, and the fact that it’s been a while since the last recession.

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