The Active Management Channel

Money, Money Everywhere, Not an Asset to Buy

During the next two decades, an estimated 76 million baby boomers – the bulge of the Western population born between 1946 and 1964 – will begin the process of going from growing and accumulating earnings to retiring and distributing their wealth.

Life After Beta: Are You Asking the Right Questions About Alternatives?

Investors have had mixed experiences with alternative investments lately, as the market landscape has made it hard for managers’ skills to shine. It’s time to ask some pointed questions to get the right fit.

K2 Advisors : Why We Like Activist Hedge Strategies

Given the unpredictability of today’s financial markets, many investors are looking to reduce the impact of market volatility on their portfolios. Hedge-fund strategies—a type of alternative investment strategy—may help by potentially offering additional diversification, new sources of return and reduced risk.

Our Place in This World

At a recent industry conference, we were confronted by a chart, a presentation and a song. In early 2017, we find ourselves in an investment world where the merit of stock picking and "active" portfolio management are challenged regularly, which has contributed to a mass exodus of assets from "active" funds to low-cost index portfolios.

A Most Wonderful Year For Small-Caps

2016 was a terrific year for small-cap stocks—and an even better year for small-cap value and cyclical sectors.

Weighing the Week Ahead: Will Trump Policies Extend the Business Cycle?

We have another holiday-shortened week with little fresh data. While there are some Fed speakers on tap, it is not enough to feed the avaricious punditry.

A New Queen Bee?!

Something similar to this “new queen bee” story is happening now. The “old queen” has been the Federal Reserve and monetary policy. The “new queen” appears to be the White House and fiscal policy.

When Speculators Prosper Through Ignorance

As Benjamin Graham observed decades ago, "Speculators often prosper through ignorance; it is a cliche that in a roaring bull market, knowledge is superfluous and experience is a handicap. But the typical experience of the speculator is one of temporary profit and ultimate loss."

The Fatal Flaws In Your Financial Plan

Congratulations! If you are reading this article it is probably because you have money invested somewhere in the financial markets. That’s the good news. The bad news is the majority of you reading this article have probably NOT saved enough for retirement.

What Advisors Should Know About Illiquidity

Relatively few investment advisors are making private equity available to their high-net-worth clients, according to new research from iCapital Network. 

Southeastern Asset Management: “We welcome unpredictability”

Ross Glotzbach is head of research and a principal at Southeastern Asset Management, one of the most respected value managers. In this interview, he discusses his investment outlook in an era of political and economic uncertainty.

Cash-Out Refinancing During Bubble Years Will Lead to Disaster

Nearly all analysts who write about the housing bubble have focused on the purchasing madness that occurred. While this is important, it overlooks the refinancing insanity of 2004-2007. This refinancing lunacy will devastate mortgage and housing markets for years to come.

How Emotional Intelligence Can Make You a Better Investor

Investors enjoy the unique luxury of choosing problems that let them maximize the use of not just their IQ but also their EQ – emotional intelligence.

Weekly Market Summary

US equities continue to make new all-time highs each week, supported by strong equity fund inflows and macro data that has exceeded expectations. Surprisingly, equities outside the US are actually outperforming the S&P. The current trend is very extended and there are four notable headwinds that may impact equities in the weeks ahead. There is, conversely, a favorable set up in the bond market.

Tax Reform: The Good, the Bad, and the Really Ugly—Part Three

Today we come to part 3 of my tax reform series. So far, we’ve introduced the challenge and begun to describe the main proposed GOP solution. Today we’ll look at the new and widely misunderstood “border adjustment” idea and talk about both its good and bad points