The ETF Channel

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.”

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%.

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.

How Have Hurricanes Harvey, Irma and Maria Impacted the Municipal Bond Market?

The financial impact of 2017’s three devastating hurricanes has varied greatly depending on the region affected. From a credit standpoint, the most important takeaway is that each region’s ability to withstand the financial impact of the storms depends on its credit quality ahead of the storm.

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.”

How do you measure an active manager’s success?

Financial research and technology can dissect individual funds to attribute the reasons behind performance.

Do market-cap differences translate into performance variations?

How the major indexes approach the markets.

Synchronized Global Growth May Have Arrived

Nearly 10 years after the financial crisis brought the global economy to its knees, conditions have finally improved enough to crystallize my conviction that synchronized global growth is currently underway. Revenue and earnings growth are up year-over-year, not just in the U.S. but worldwide. Despite President Donald Trump threatening to raise tariffs and tear up trade deals, global trade is accelerating. World manufacturing activity expanded to a 78-month high of 53.5 in October, with faster rates recorded in new orders, exports, employment and input prices.

S&P 500 Snapshot: Down 0.13% from Last Week

The S&P 500 opened Friday below yesterday's close and oscillated around a small range throughout the day, closing with a daily loss of 0.26% and a weekly loss of 0.13%. Year-to-date, the index is up 15.19%.

Bonfire of the Absurdities

This week’s letter will take a look at the growing number of ridiculous, inane, and otherwise nonsensical absurdities that fill the daily economic headlines. I have gone from the occasional smile to scratching my head now and then to “WTF” moments several times a week.

Gundlach’s Top ETF Recommendation

The money to be made is in non-U.S. markets, according to Jeffrey Gundlach. For long-term investors, he recommends a specific ETF.

Mohamed El-Erian – Which Asset Classes are Most Vulnerable

Mohamed El-Erian says that investors have been “enticed to become increasingly exposed to historically illiquid asset class segments.” Here are the asset classes and ETFs that are most at risk.

The S&P 500’s Extended Bull Run: Can It Last?

The current equity bull market has been chugging along, enjoying unusually low volatility in recent quarters. The S&P 500® Index is on an extended bull run. The index hasn’t had so much as a 5% correction since February 2016, and it has gone without a 20% or greater pullback since March 2009.

Ted Seides: Why I Lost My Bet with Buffett

Only a highly confident investor would bet against Warren Buffett. But Ted Seides had the humility to admit that his loss of a $1 million wager is all but certain. Unlike what most believe, though, he said the high fees charged by his hedge funds were not to blame.

Tech's Dirty Little Secret: It's a Cyclical Sector

While Tech remains one of RBA’s largest overweight sectors in our portfolios, one thing to consider is the sector’s dirty little secret: it’s really a deep cyclical.