3 reasons why we believe private markets are an attractive alternative.
Attention beginning business owners: Don't you wish someone would tell you the truth about what it takes to start up and run a successful business?
For the majority of investors, the recent rally has simply been a recovery of what was lost last year. In other words, while investors have made no return over the last 18-months, they have lost 18-months of their retirement saving time horizon. The decline was small last time. But what about next time?
The case for Emerging Markets external debt is solid. The long-term risk-reward has been and remains compelling. The outlook over the medium-term also favours the asset class as the unwinding of distortions in global bond markets attributable to Quantitative Easing strongly favour EM over developed markets.
The expectation of a global rebound in the second half of 2019 was predicated on a positive resolution in the trade talks between the U.S. and China and the U.S. and the European Union. With a burst of stimulus from the Peoples Bank of China and Chinese fiscal stimulus since last summer, the global economy was beginning to show signs of improvement.
The “inconvenient truth” of equity market pullbacks is that investors tend to want them in order to invest at more favorable prices, but when they actually occur, investors get nervous, question their conviction and postpone their purchases.
Why do economies collapse into recession in ways that seem so difficult to predict? Why do financial markets collapse into free-fall with timing that’s so loosely related to market valuations? Much of the reason is that complex systems usually aren’t linear.
Nasdaq President & CEO Adena Friedman talks candidly with Envestnet Head of Asset Manager Distribution about the future of financial advising, adding value for clients, work/life balance, and why Nasdaq isn’t just an exchange but a global technology company.
Europeans went to the polls, and the results reveal continental divisions. U.S. businesses’ patience for tariffs won’t last. And what do tariffs do to prices?
Tariffs are paid by U.S.-based importing companies, which pass the extra expenses on to the end consumer. As such, tariffs are inflationary, and historically, that’s been good for gold
Avon’s Historical Operating Results and Price Action Since 2008 Avon’s earnings have continuously eroded and its stock price has followed. Moreover, after its dividend grew for many years, the company cut it by 18 ½% for 2012, slashed it an additional 68% in 2013 and then eliminated their dividend altogether in 2016.
What’s the investment lesson in Europe’s recent parliamentary elections? Our Fixed Income CIO Sonal Desai says it’s differentiation. Read more of what’s on her mind about this topic.
As we look into the second half of the year and into 2020, we are left with a fleeting feeling about the prospects for a cyclical uptick in growth and therefore earnings. The problem is not so much with the current pace of growth or incoming data (which by the way hasn’t been very good).
3 principles to focus on when weighing risk in a bond portfolio.
Primed for growth, Asia’s health care sector helps capture consumer spending in the region.
Once upon a time, US municipal bonds were generally considered less risky than corporate bonds. Backed by the full faith and credit of state governments, investors had confidence they would receive their principal plus interest without fail. Times have changed.
Sales and earnings growth were 6% and 8%, respectively, in 1Q19. Margins rebounded from the end of 2018 but are still below the cycle high made in 3Q18. Looking ahead, analysts' expectations for 10% earnings growth in 2019 have been revised down to 3%. The key for share price appreciation in 2019 is likely to hinge almost entirely on valuations expanding.
Many companies are staying private for longer before deciding to go public—if they do so at all. But what does that mean for investors?
Memorial Day is also the “unofficial” start to summer as the temperature heats up, school ends, and vacation season begins. With more people on vacation there is a tendency for investors to lose focus on the financial markets. However, this particular summer presents numerous events, deadlines, and potential headlines that we believe investors cannot ignore as they could lead to increased volatility, both to the upside and downside.
European parliamentary elections don’t typically generate international headlines, but with Brexit still unsettled, this time they are front and center.
May’s “flash” index of U.S. manufacturers registered a sharp decline to 50.6. This is only a preliminary reading, but if it turns out to be accurate, it would mark the slowest growth in the domestic manufacturing industry since September 2009
Productivity growth is vital to the economy and for our well-being. We take a look at recent and long-run trends, marvel at the progress of artificial intelligence, and explore diverging growth among nations.
Like Japan, the US will see yet more quantitative easing and extraordinarily low interest rates, along with annual federal deficits of $2 trillion and higher. Alternatives like restructuring the tax code and balancing the budget will be nowhere in sight.
This is the first in a continuing series where I identify and present dividend growth stocks for an above-average long-term total return objective. Throughout this series I will be illustrating that there are several prudent sources of long-term return and there is also luck or chance.
Advisors need to make sure clients are centered and thinking clearly, that they’re not over- or underestimating their options and that they’re focused on what matters most to them. Here are a few strategies to help you help your clients do just that.
On the latest edition of Market Week in Review, Quantitative Investment Strategist Abraham Robison and Sophie Antal Gilbert, head of AIS business solutions, discussed the recent setback in U.S.-China trade negotiations and what it may mean for markets going forward.
With the S&P down a 2nd week, it’s important to remember that this decline comes on the heels of a very strong 4 month rally. This is to be expected, because no rally can go up forever without making a pullback/correction along the way.
Two types of tax increases are being promoted by several presidential candidates and members of Congress. The less common idea, which I wrote about recently, is a wealth tax on net worth. The more common proposal is a significant increase in income taxes.
Jim Combs, CEO of National Advisors Trust Company, says that his work in the RIA channel over the last 20 years has taught him three important lessons. And his firm’s growth – from an advisor network of 1,500 two years ago to over 55,000 today – has been remarkable.
The purpose of the article is to define money and currency and discuss their differences and risks. It is with this knowledge that we can better appreciate the path that massive deficits and monetary tomfoolery are putting us on and what we can do to protect ourselves.
The economic calendar is one of the lightest, and a long holiday weekend impends. How will this news vacuum be filled? Probably with celebrity news, following the latest tweets, analyzing any new Democrats running for President, and interviews with B-level guests.
This past weekend, I was digging through some old articles and ran across one that needed to be readdressed on“human stupidity” as it relates to investing.
The suppression of the gold price is not just a conspiracy theory. It’s a well-documented phenomenon, with real actors and real ramifications. The best people to speak to about this subject are the folks at the Gold Anti-Trust Action Committee.
The duration and magnitude of value’s recent underperformance has caused many to ask once again if value investing is no longer effective. While it is possible that secular shifts have helped to compress value’s premium relative to its long-term history, we believe most of the recent decline can be traced to more transitory factors.
General George Custer met his doom charging into a battle he thought he could win, against an opponent he did not understand. Based on his views about the fast-emerging trade war with China, it looks to me that Donald Trump, is charging into an economic version of the Little Bighorn.
If you’re even an occasional bowler, you know about the dreaded 7-10 split. For advisors, it can feel just as hard to keep clients invested in international equities, after U.S. equities have done so well for so long.
European Banks have mostly been magnets for bad news and disappointment for their equity holders. But we believe other parts of the banks’ capital structure offer solid returns, backed by resilient balance sheets.
A collapse in the corporate bond market could rival the sub-prime debacle a decade ago, according to Jeffrey Gundlach.
The BBB bond market is growing, but we believe that worries about significant downgrades are overblown.
Why don’t we appreciate and celebrate big business more wholeheartedly? Why do so many of us regard it as unfair, monopolistic, manipulative, impersonal, and exploitative, to say nothing of inefficient? In Big Business: A Love Letter to an American Anti-Hero, the economist and free-range intellectual Tyler Cowen poses these questions and suggests a wide assortment of answers.
As the Friday early morning deadline (12:01 AM EST) expired, tariffs on an additional $200 billion of Chinese imports have technically gone into effect. However, as we go to press, negotiations are ongoing with the hope that a compromise can be brokered.
Many factors are holding down inflation, U.S. jobs growth continues to surprise and China’s bad loans are getting worse.
Macro trends can run for a while, but they can also experience a quick end. Elections (Brexit, US Presidential Election) can cause the most powerful reversals in markets.
This is part 19 and the final part of my series covering all the various sectors reported by FactSet. However, the popular idea of saving the best for last does not apply in this instance.
It is often said that no one saw the crash coming. Many did, but since it was “bearish” to discuss such things, the warnings were readily dismissed.
It’s been a tough road for value investors during the past decade or so, even leading some pundits to declare the investing style is dead.
Investors have a tendency to obsess about their investment portfolios. On the surface, this is a perfectly reasonable focus given results in the portfolio are a crucial determinant of success for whatever purpose the portfolio is there to serve.
Equities remain near all-time highs, as the S&P 500 closed at a record high two times this week and is now up 17.1% year-to-date, the best start to a year on a price return basis since 1987.
As we move toward the finale of first quarter earnings season, results have been a bit better than expected, but barely in positive territory. The earnings beat rate has been above historical norms; while revenues have been a touch more disappointing relative to expectations. Multiples have expanded this year thanks to a strong stock market; but earnings will have to do more of the heavy lifting at some point.
