Is CCC Credit Worth the Risk?
Typically, one would expect higher-risk assets to generate higher returns. But when it comes to high-yield corporate bonds, indiscriminate exposure to the CCC-and-below category may not produce the expected results. Here, high-yield portfolio manager Ivan Rudolph-Shabinsky discusses some of our research findings.
read moreNew Fee Disclosures for US DC Plan Participants: Context Is Key
The US Department of Labor’s new 404(a)(5) fee-disclosure rules for defined contribution (DC) plans will provide participants with a lot more information on plan and investment fees—in plain language. That’s a good thing. But there’s a real risk that the new rule may unintentionally drive participants to make poor investment choices.
read moreIs a Japan-Style “Lost Decade” Ahead for the US?
The laborious pace of the US recovery has inevitably fostered comparisons with Japan. But we find several reasons why a protracted slump like Japan’s is unlikely, as my colleague Gerry Paul argues below.
read moreThe Five Biggest Myths of Retirement Planning
In the world of retirement planning, some myths persist, despite continued efforts to debunk them. Below, my colleague Tara Thompson-Popernik discusses a few of the most stubborn myths we encounter.
read moreStocks and Bonds: Comparing the Range of Potential Outcomes
Investors fleeing stocks have mostly sought shelter in bonds. That’s understandable, given their relative stability and reliable income. But it’s important to compare long-term expected returns, too.
read moreWhat Works in Tough Equity Markets?
During the market crisis of 2008–2011, traditional equity style strategies such as value and growth underperformed the markets, often by wide margins. But our research shows that there was a way to diminish the negative impact of market turmoil on portfolio returns.
read moreThe Fundamental Case for the 20,000 Dow
While some people deem stocks expensive relative to 10-year trailing earnings, we take a forward-looking approach. It starts with the premise that the stock market is not a casino and stock prices are not pulled out of thin air: they reflect the intrinsic value of companies’ future earnings.
read moreCould Tax Reform Hurt Municipal Bond Prices?
Tax rates and federal government expenditures are being discussed in Washington. The ultimate result could affect the value of municipal bonds. My colleague Michael Brooks explains.
read moreThe Benefit of Transferring Wealth by Year End
With US gift- and estate-tax rates slated to rise on January 1, it may be wise to gift assets before year-end. As my colleague Andrew Auchincloss explains below, you still have a rare (but fleeting) opportunity to transfer wealth tax efficiently.
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