Munis: Active or Passive? There’s No Debate
Passive strategies have gained ground in some asset classes. But when it comes to municipal bonds, they don’t have a leg to stand on. In a market this complex and illiquid, an active manager is essential.
"Lower and Longer" Has Legs
For the 18th straight year, Baird Advisors held its Institutional Investors Conference in Kohler, Wisconsin. Attendees listened to legendary Washington Post journalist Bob Woodward’s perspective on the Trump White House in the context of previous administrations he has covered and to global risk expert Ian Bremmer, President and founder of Eurasia Group, who introduced the concept of a geopolitical recession and mapped a new macroeconomic landscape where the institutions that defined the post-war world order are becoming less relevant.
The Big Four Economic Indicators: Industrial Production Up 0.3% in September
Today's report on Industrial Production for September shows a 0.3% increase month-over-month, which was at the Investing.com consensus. Industrial Production peaked in November 2014, only one point higher than its pre-recession peak in November 2007. The year-over-year change is 1.60 percent, up from last month's YoY increase.
Energy and Financials: The Value Within Value
Value stocks have started to show signs of life. Russ discusses why energy and financial stocks are currently the best ways to play the theme.
What To Expect With Tax Reform
This Strategic Insight discusses how to bolster tax revenue by increasing potential growth and productivity through tax and spending reform to enhance global competitiveness and increase fairness across taxpayers, thus turn fiscal deficits into surplus. Various guiding principles outlined suggest various proven ways to achieve these objectives.
How to Meet Really Rich People
Here’s my shocking idea on the best way to grow your practice.
The World Turned Upside Down
It is extremely difficult for an active manager to buy the best companies and/or short the worst companies and show much outperformance relative to the passive index funds. No matter how much research you do, no matter how well you know those companies, your research is not giving you an edge over the massive movement to passive investing.
Should We Be Worried About Earnings Growth?
One of the key points in my argument that things are actually pretty good—and likely to get better—has been that with a growing economy, companies are selling more and making more money. Rising profits, especially on a per-share basis, are the foundation for a rising market.
Consumer Price Index: September Headline at 2.2%
The Bureau of Labor Statistics released the September Consumer Price Index data this morning. The year-over-year non-seasonally adjusted Headline CPI came in at 2.23%, up from 1.94% the previous month. Year-over-year Core CPI (ex Food and Energy) came in at 1.69%, up fractionally from the previous month's 1.68%.
Market Overview Q317: Raised on Promises
The widespread indifference to risk in the markets strongly suggests something is wrong. That something is “bad promises” and it has significant and widespread implications for investors.
Weekly Unemployment Claims: Down 15K, Affected by Hurricanes
Today's seasonally adjusted 243K new claims, down 15K from last week's revised 258K, was better than the Investing.com forecast of 251K. Hurricane Harvey, Irma, and Maria impacted this week's claims.
It Often Rhymes
Shakes off bad news and listens to good news! That’s how the past two weeks have been since the “melt up” began.
Beyond Better Sameness
With growing client expectations and very a competitive marketplace, financial advisors must continue to seek more and better ways to differentiate themselves, i.e., “beyond better sameness.”
Short-Term Volatility vs. Full-Blown Bear Market
2008 may have generationally scarred investor psychology. As a result, many continue to disavow the current bull market and instead heed warnings of an impending bear market. We argue that fundamentals remain strong and the global equity markets are rife with opportunity.
NFIB Small Business Survey: Index Tumbles in September
The latest issue of the NFIB Small Business Economic Trends came out this morning. The headline number for September came in at 103.0, down 2.3 from the previous month. The index is at the 90th percentile in this series. Today's number came in below the Investing.com forecast of 105.1.