On April 12, 2019, Chevron (CVX) and its CEO, Mike Wirth, offered $33 billion dollars to buy the common shares of Anadarko Petroleum.

A portfolio’s return is driven by its investment strategy—a set of decisions that governs allocation and timing of capital among the portfolio’s positions.

In our 2022 Volume Analysis Outlook, the S&P 500 was fresh off new highs exceeding 4800.

Given the many forces shaping the economy and markets, 2022 will be a stock picker’s—and a bond picker’s—market. Prices are indeed stretched in pockets of the market, but many areas offer attractive potential supported by compelling fundamentals and exposure to growth themes.

The COVID-19 pandemic looked set to batter the world’s banks—and yet banks’ balance sheets are now the strongest they’ve been since the global financial crisis (GFC).

When fourth quarter GDP data is released later this week, it will show that 2021 finished on a high note.

“Supply chain” used to be a piece of business jargon that rarely made its way into normal conversations.

Rate hikes will be far fewer than the markets currently expect.

After a tumultuous data deluge over the last two years, 2022 may begin to see the economic silt settling a bit, even as the waves of reaction to uncertainties continue. Check out our 2022 Investment Outlook covering the Housing Market, Interest Rates, Fiscal Stimulus, Inflation, & Market Returns.

Join our on-demand panel discussions with portfolio managers from all five of our affiliates exploring inflation and monetary policy, lessons from the supply chain breakdown, themes and opportunities in sustainable investing, opportunities in international investing, what’s next in growth vs. value, and what structural changes are here to stay.

A “boatload” of news this week suggests that the shipping industry continues to look very attractive from an investing point of view. Global cargo carriers are estimated to have recorded $150 billion in profits in 2021, the first time they’ve collectively reached that figure in a single year.

Many analysts project China will soon be larger by GDP than the US—which shouldn’t be so hard with a population four times larger—but it’s not clear to me that China’s seemingly unlimited linear growth will continue three or four more decades. I can remember when the same was said about Japan.

In his renomination hearing, Fed Chair Jerome Powell stressed that the key to maximum sustainable employment and financial stability was keeping inflation low.

When reviewing the current state of the global economy and investment markets, we recommend focusing on market signals and weeding out market noise.

The surge of the coronavirus omicron variant has implications not only for broader asset-class allocations but also for macro exposures within asset classes.

This is the 6th in a series of 11 videos where I will cover each of the 11 sectors looking for value.

Headquartered in Japan, Sysmex is the No. 1 provider of blood diagnostics equipment in the world.

The panic of the day is the news about interest rates.

Many people will see the beginning of 2022 as motivation for a resolution.

The municipal bond market has historically outperformed relative to Treasurys during periods of rising interest rates.

For China, the year ahead holds special political and economic significance.

All 2-sigma equity bubbles in developed countries have broken back to trend.

With January being a month for prognostications, David Mann, our Head of Global Exchange-Traded Funds (ETFs) Capital Markets, shares his annual outlook for the ETF industry and key trends he sees taking shape in 2022.

There are three pillars of investing for us at Smead Capital Management.

“Don’t Fight The Fed.” But, unfortunately, that mantra has remained a “call to arms” of the financial markets and media “bullish tribes” over the last decade.

Most investors need little persuading that emerging markets offer exciting opportunities.

Rougher seas lie ahead for non-profit fiduciaries as the COVID-19 pandemic stretches into 2022 and refuses to retreat quietly into the night.

Last week, U.S. Treasury bond yields, climbed back to their pre-pandemic levels.

This Monday would’ve been Muhammed Ali’s 80th birthday!

Consumer prices rose 7.0% in 2021, the largest increase for any calendar year since 1981.