Policymakers in Washington have recently expressed growing concerns about the (planned) dwindling of capital levels at Fannie Mae and Freddie Mac – the two government-sponsored enterprises (GSEs) that help finance the vast majority of U.S. mortgages.
The small- and micro-cap markets started the third quarter with a modest correction, but finished the quarter with a monster gain in September. All equity markets produced positive results in the third quarter, but the real stars were smaller stocks.
The unique attributes of corporate crossover bonds may offer solutions for investors assessing a range of objectives and risks.
For 23 years DALBAR, Inc. has been publishing a research report reaching the conclusion, year after year, that investors underperform the investment vehicles that they invest in due to “poor investor decision making.” Wade Pfau recently discovered, however, that this conclusion is the result of a serious calculation error. Now, using Pfau’s results, I will prove that the evidence actually shows that investors do not underperform their investments.
Most of us view our investment portfolio as numbers on a screen. However, investments represent money that we set aside for some future purpose or goal. Are we investing with that goal in mind?
Tail risk hedging seeks to protect gains without loss of upside equity potential.
Rigorous research on the causes and consequences of unequally distributed growth is necessary to identify solutions. But the best analysis means little in the absence of hands-on consensus-building and political engagement.
The emergence of “responsible investment” solutions has created an opportunity for clients to approach their portfolios more holistically and in line with their beliefs and values. The historical perception of a trade-off between optimizing returns and reflecting values is a false dichotomy.
We have seen a powerful recovery in asset prices in the wake of the global financial crisis (GFC). We cannot forget, however, that more than $15 trillion in asset values evaporated in 2008–2009, wiping out gains earned in the bull markets of the 1990s and early 2000s.
Our approach to investing in long duration and long credit portfolios has delivered meaningful alpha over most market cycles.