The Markets and the Cult of Now
Crisis-battered investors continue to favor the relative certainty of current income over the “maybe” of future capital appreciation. If you ask me, however, this hyperfixation on Now is creating some provocative opportunities in Later.
read morePay Attention to Pricing Power in 2013
Revisions to earnings forecasts started to improve in late 2012 as analysts’ worst macroeconomic fears eased. But this year, global companies may find it tougher to boost profits while their pricing power remains weak.
read moreWhat Did You Learn in 2012?
In 2012, investors worried about the future of the euro, the US fiscal cliff and the emerging-market slowdown…yet stocks still climbed higher. What lessons should we learn from 2012? We’d suggest four key takeaways.
read moreBuy and Hold Is Dead…Long Live Buy and Hold
It seems that rumors of the death of long-term equity investing have been greatly exaggerated.
read moreDon’t Get Trapped by a Crowd in Stocks
Nobody likes to be stuck for too long on a crowded bus or train—especially when it’s time to get off. But when it comes to stocks, we often overlook the risks of getting trapped with too many people in an untenable position.
read moreActive Management: Don’t Drop the Pilot
For years, we’ve advised clients to hold diversified portfolios with balanced allocations to stocks, bonds and other assets. Lately, it’s been a hard sell, especially after years of underperformance by active equity managers. But the tide may be turning.
read moreProfit from Your Premium Bonds
When investors see opportunity, we believe they should actively reposition their municipal bond portfolios to take advantage. Often, this requires selling some existing holdings. Today, investors are asking us: Why do you recommend I sell my long-term bonds? They’re yielding 5%. Won’t selling them reduce my potential returns?
read moreAvoid a Passive Pickle in Less Volatile Stocks
By Chris Marx and Kent Hargis Less volatile, defensive stocks have been so popular lately that many investors are now asking whether the low-volatility opportunity has come and gone. The question highlights why we think a multifaceted, actively managed approach is the way to go when investing in this space. These strategies have more levers [...]
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.
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