The Capital Growth Channel

Eastern Europe and the Polish Surprise

My recent travels took me to Eastern Europe, where I had the opportunity to meet with colleagues and discuss the latest developments in the region. I thought I’d invite Greg Konieczny, who is based in Romania, to share some of his insights.

Green Grass and High Tides: Earnings Stellar But Not Without Risk

The book is closing on third quarter earnings, which were stellar; but is it time to worry about a bar set too high in 2018?

Merrill Memo

Charles Merrill issued the aforementioned memo to clients on March 31, 1928. At the end of the first quarter in 1928 the D-J Industrial Average was around 240. It subsequently rose to a September 3, 1929 peak of 381.17, which was the price peak for the Industrials that would not be surpassed until 1954, not that we are predicting anything like that here.

Weighing the Week Ahead: Will Black Friday Lead to a Green Market?

The economic calendar includes few reports, crammed into two days of a holiday-shortened week. Many will be taking time off – including some of the “A List” pundits. I expect to see some new faces on financial television and a lot of discussion about consumers and the economy. Many will be asking: What does Black Friday mean for the economy, and for stocks?

Annual Beneficiary Audits: As Important as a Will

Many investors assume a will dictates where their assets will go. But without properly designated beneficiaries, investors may not reach their legacy goals.

Jeremy Siegel: The S&P 500 is Fairly Valued

The bull market in U.S. equities is behind us, according to Wharton professor Jeremy Siegel, who says that the S&P 500 is now “fairly priced.”

Six Themes That Will Drive the Next Five Years

Those looking for an optimistic forecast for U.S. equities can turn to Northern Trust. Bob Browne, its chief investment officer, identified six themes that will drive the capital markets over the next five years. Taken together, they translate to 5.9% annual returns for U.S. stocks over that period, which includes 2017.

World Markets Update

All eight indexes on our world watch list have posted gains for 2017 through November 20. The top performer thus far is Hong Kong's Hang Seng with a gain of 33.0%, followed by India's BSE SENSEX at 25.43%. In third is Tokyo's Nikkei with 16.47%.

Ongoing Contributions to a Donor Advised Fund

While the initial gift to a client’s fund may tend to be the largest, we should not ignore the opportunity to continue to incorporate donor-advised funds into the client’s ongoing charitable plan.

Time to Trim, but Not Abandon Gold

Gold has performed surprisingly well this year. Russ discusses why that might not be the case going forward, and it may be time to pare positions.

Neil Hennessy – The Opportunities in Mid-Cap and Japanese Stocks

Neil Hennessy is a portfolio manager and chief investment officer at Hennessy Funds. In this interview, he discusses the compelling opportunities in mid-cap and Japanese stocks, and what RIAs should be doing in advance of the next market correction.

Brief Observations: Hindenburgs and Titanics

Turbulence in market internals, in the face of record market highs, is often a symptom of increasing risk-aversion and skittishness among investors.

Investing Like the Mafia 2017

As famed market strategist Richard Bernstein has pointed out, investors should pattern common stock selection after the investment style of the Mafia. What causes the Mafia to get such good returns? How do they spot opportunities? Why should we as investors in publicly-traded common stocks emulate their behavior near the end of 2017?

Conference Board Leading Economic Index: Rebound in October

The latest Conference Board Leading Economic Index (LEI) for October increased to 130.4 from 128.9 in September. The Coincident Economic Index (CEI) came in at 116.2, up from the previous month.

On My Radar: A Fatal Attraction for the Slim Chance

My daughter, Brianna, and I were recently listening to a Charlie Rose interview on Bloomberg Radio. I love the way he asks direct questions. The interview featured Jeremiah Tower, a little-known chef who pioneered a restaurant revolution in the 1970s that gave rise to the culinary style known as “California Cuisine.”