Joel Greenblatt serves as managing principal and co-chief investment officer of Gotham Asset Management and is one of the foremost value managers. His fund, the Gotham Index Plus Institutional Fund (GINDX) is in the 1st percentile of its Morningstar peer group (Large Cap Blend) for the period since inception (March 31, 2015) through March 31, 2017, significantly outperforming the S&P 500.
The yield on the 10-year Treasury bond has been tightly coiled in a “zone of death,” Jeffrey Gundlach said. Since the start of the year, it has traded between 2.4% and 2.5%, but it is poised to rally to 2.25% before it retreats to 3.0% by the end of the year, according to Gundlach.
Shundrawn Thomas serves as Northern Trust’s executive vice president, head of funds and managed accounts group. I spoke to him about his annual president’s perspective on the ETF industry, which was just released.
Ross Glotzbach is head of research and a principal at Southeastern Asset Management, one of the most respected value managers. In this interview, he discusses his investment outlook in an era of political and economic uncertainty.
In the prior installment on this series, I exposed the deceptive marketing used to sell fixed-index annuities. Today I will look at a firm that purchases annuities from investors – the Annuity Action Network. It is a way for clients to borrow money at a high interest rate, but it may be an appropriate solution under certain circumstances.
An ideal retirement product should provide steady, secure income and upside participation in the stock market. That’s why advertisements that promise performance that will be “up with the market and never down, forwards with your money and never backwards” are so tempting. That’s exactly what Ty J. Young claims in his advertisements. I’ll explain why investors should be extremely wary of the products his firm sells.
You’re in denial if you believe that U.S. stocks are fairly valued, the Eurozone does not face a crisis or a strong dollar will support stability in the global economy. Those themes were presented by Albert Edwards and his fellow speakers at the annual investment conference sponsored by Societe Generale.
Investors will confront excessive debt, high P/E levels and political uncertainty as they enter the Trump presidential era. In response, according to Jeffrey Gundlach, U.S.-centric portfolios should diversify globally.
Great articles don’t always get the readership they deserve. Earlier this week we published the top 10 most-read investing and financial planning articles and a similar top 10 practice management articles. Below are another 10 that you might have missed, but I believe merit reading.
The flow of assets to passive products over the last several years has increased the pressure on active mutual funds. Analysts are predicting an industry consolidation with the prime target being those funds that track an index but charge relatively high active management fees – the so-called closet-index funds. Here are the 10 largest such U.S. large-cap equity funds.
Good financial products are bought, not sold. We are beginning a series of articles analyzing some of the most aggressively sold financial products – those which are advertised on television. This is the first installment in our series.
As is our custom, we conclude the year by reflecting on the 10 most-read articles over the past 12 months. The list below reflects articles focused on practice management.
As is our custom, we conclude the year by reflecting on the 10 most-read articles over the past 12 months. The list below reflects articles focused on investing, financial planning and the economy. On Thursday, we will publish the 10 most-read articles on practice management.
John Hathaway is chairman of Tocqueville Management Corporation, the general partner of Tocqueville Management L.P. He co-manages the Tocqueville Gold Fund (TGLDX). I spoke with John on December 9
Jeffrey Gundlach predicts trouble for the equity, corporate and junk-bond markets if the yield on the 10-year Treasury bond goes above 3% in 2017. Even the housing market would suffer.
The Queens Road Small Value fund has outperformed its benchmark, the Russell 2000 Value Index, over the past 10 years and since inception in 2002, earning an annualized return of 9.59% vs. 8.38% for the Russell 2000 Value Index. I spoke with Steven Scruggs, who has served as portfolio manager for that entire 14-year period.
Donald Trump’s electoral win was in part the result of very shrewd analysis and tactics. As his campaign manager, Kellyanne Conway was responsible for Trump’s campaign strategy and its execution. Yesterday, she offered candid insights into the key decisions that led to Trump’s victory.
A mere 80 days separates President-elect Trump’s inauguration from the April 10, 2017 effective date for the Department of Labor’s (DOL’s) fiduciary standard rule. Yesterday, four industry experts gave their predictions on whether the rule will survive under the Trump administration.
If there’s one belief that enjoys broad, bipartisan support, it is that the U.S. faces a debt crisis. Democrats and Republicans routinely bemoan America’s irresponsibility and immorality by claiming it is borrowing from the “bank of China” and leaving that debt for our children and grandchildren to repay. Donald Trump threatens to challenge that paradigm by aggressively using the “f” word.
Jim Callinan is a portfolio manager for the Osterweis Emerging Opportunity Fund (OSTGX). In this interview, he discusses how he identifies high-quality companies in emerging industries and defensible growth niches that have open-ended growth potential.
No forecaster has predicted equity returns as accurately has Jeremy Siegel over the post-crisis period. In our annual interview, he offers his forecasts for the coming year.
The First Eagle Global Income Builder Fund (FEBIX) seeks to provide meaningful and stable income that persists over time and holds its value in real terms. It has approximately $1.2 billion in assets and is a leading performer in its Morningstar peer group. I spoke with two of its co-managers, Kimball Brooker and Edward Meigs.
Abhay Deshpande founded Centerstone Investors and serves as the chief investment officer. He previously worked at First Eagle Investment Management with Jean-Marie Eveillard. In this interview, he discusses the opportunities he sees for his two recently introduced value funds.
Jeffrey Gundlach was the only prominent financial professional to predict Donald Trump’s victory. Yesterday, he revealed how he made that call.
Speaking before the results of the presidential election were known, Jeffrey Gundlach commended Donald Trump for his campaign and the results he achieved. Gundlach did not, however, reiterate his prediction that Trump would win and, as in the past, he neither endorsed Trump nor said that he would vote for him.
John West is a managing director and head of client strategies for Research Affiliates. In this interview, he discusses what assumptions advisors should use for capital-market returns over the next decade.
Robert Reich, a prominent Democrat, and Alan Simpson, a distinguished Republican, engaged in a friendly debate to discuss issues that they said were not addressed during this campaign season. But on crucial subjects, both relied on out-of-date and inaccurate reasoning.
The world will enter a geo-political “recession,” according to Ian Bremmer, resulting in a large list of failed states. The U.S. will be relatively insulated from that crisis, but faces its own challenges driven by globalization and wealth inequality.
The Fed will raise rates in December, as long as the election goes as expected and there are no surprises in the economic data, according to Rick Rieder. But, according to Rieder there are secular influences in the economy that are much more important than monetary policy.
Only two election scenarios are possible, according to Greg Valliere. Either Clinton will win by a modest 4-5% margin, or she will win by a blowout margin of 12-13%.
A recession is not imminent and investors should be skeptical of those who claim the market is vastly overvalued, according to Liz Ann Sonders.
Immigration policy is the biggest divide between Hillary Clinton and Donald Trump. U.S. growth will falter unless the measures proposed by Clinton are adopted to spur increased immigration, according to Mark Zandi. Trump’s policies, Zandi contends, will put the U.S. on a trajectory similar to Japan’s “lost decade.”
The Thornburg Strategic Income Fund (TSIAX) has returned 5.87% over the last five years (the longest period for which Morningstar provides data), outperforming the Barclay’s AGG benchmark by 277 basis points. The Thornburg Limited-Term Muni Fund (LTMFX) has returned 3.16% over the last 15 years (the longest period for which Morningstar provides data), versus 2.46% for its Morningstar peer group, placing it in the 18th percentile of that group. I spoke with Christopher Ryon and Lon Erickson, who are respectively managers of those funds.