Buy 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.

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Don’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.

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Active 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.

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Profit 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?

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Avoid 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 [...]

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Challenges in Today’s Municipal Market

Most fixed-income investments carry two key risks: interest-rate risk and credit risk. Both affect a bond’s value in the market. But before the 2008 financial crisis, interest-rate risk was the primary concern of many investors and investment managers—credit risk was much less of a consideration. My colleague Michael Brooks explains why.

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What 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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Emerging-Market Credit
Has Come of Age

While investors have flocked to emerging-market government bonds in recent years, some still perceive emerging-market corporate bonds as an immature asset class. Shamaila Khan, who manages global credit portfolios, questions some assumptions about emerging credit.

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Exploiting ZIRPonomics in a World
of Ultralow Interest Rates

We’re living in a world of zero interest-rate policies (ZIRP). Central bank interest rates and market yields are at historical lows in most of the developed world and some of the emerging world. Are you making ZIRPonomics work for you?

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Defining a New Framework for Equity Investing

Equity investing is facing a crisis of confidence. After several years of high volatility, disappointing returns and the failure of conventional diversification, the fear of equities is pervasive. After all, how can anyone rely on equities to meet future targets when extreme market turmoil can destroy years of careful planning in a heartbeat?

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