Ron A. Rhodes

OCTOBER 2, 2023

September 30, 2023 After a stellar first half of 2023, the third quarter of 2023 saw losses in most U.S. stock asset classes, and even more significant losses in many…

Assets 88

Assets Asset Allocation Valuation Financial Advisor 88

Brown Advisory

JUNE 21, 2023

When macro conditions are uncertain, a banker’s approach to valuation can help. David, a former investment banker, has always brought a banker’s mentality to valuing smaller companies by breaking down their assets and operations into components that can be more accurately assessed. CIO Perspectives: A New Bull Market?

Marketing 52

Marketing Marketing Asset Allocation Clients 52

The Big Picture

FEBRUARY 6, 2024

And speaking of the.com implosion, like Microsoft via a case study where we, in previous strategies, we held Microsoft for a very long time, that’s where the valuation could help us in the.com bus. And actually Ben Inker is the head of our asset allocation group. 00:18:41 [Speaker Changed] Yep. It was over 50 right?

Valuation 130

Valuation Investing Investments Assets 130

James Hendries

NOVEMBER 3, 2022

First, investors may have begun to look beyond current inflation pressures and the Federal Reserve (Fed) monetary policy tightening cycle toward potentially better conditions in 2023. The market is always forward-looking, and asset prices tend to reflect what may happen months or quarters ahead.

Clients 52

Clients Asset Allocation Investment Advisor Economics 52

Dear Mr. Market

MARCH 17, 2024

We still like Energy this year and that is especially so with it being one of the most beaten down economic sectors from 2023. EOG is poised to breakout and trades at bargain valuation of about nine times earnings (relative to the S&P at 23 times earnings and a touch under the overall energy sector of 12 times earnings).

Investing 105

Investing Investments Portfolio Assets 105

Investing Caffeine

APRIL 1, 2022

Not only are corporate profits at record levels, they are also expected to grow at a healthy rate (+10% in 2022, +10% in 2023) after mind-boggling growth of +50% in 2021 ( see chart below ). They certainly could, but valuations remain attractive given where interest rates currently stand. Source: Yardeni.com. www.Sidoxia.com.

Economy 59

Economy Economics Valuation Investing 59

James Hendries

MARCH 13, 2023

Instead, we got a shockingly fast collapse of a financial institution with over $200 billion in assets, which turned the market’s focus toward the stability of the banking system and what systemic risks banks might be facing. But valuations strongly favor value over growth. The Russell 1000 Growth Index has returned 4.6%

Assets 52

Assets Marketing Marketing Asset Allocation 52

Validea

JANUARY 4, 2023

Value models like this are streaky, which could bode well for 2023, but only time will tell. Throughout 2022 the most expensive stocks were the ones hit hardest as valuations started to normalize in a new world of higher interest rates. The model was down 0.2% vs. the 19% loss for the S&P 500. Mohanram called this the “G-Score”.

Portfolio 52

Portfolio Risk Management Assets Asset Allocation 52

James Hendries

JUNE 26, 2023

We know it’s old news at this point, but on June 8, 2023, the S&P 500 entered a new bull market. With the broad market overbought in the short-term from a technical analysis perspective and valuations elevated, stocks may be due for a pause. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Asset Allocation Valuation 52

James Hendries

JANUARY 13, 2023

These lessons learned from 2022 are particularly important for 2023 since FOMC members expect rates in 12 months to be higher than what investors are currently expecting. economy to avoid recession, and support above-average valuations. Here’s hoping for more hits and fewer misses for all of us in 2023. Caveat emptor.

Marketing 52

Marketing Marketing Valuation Asset Allocation 52

James Hendries

JUNE 20, 2023

The encouraging trend in consumer prices will provide the Fed some leeway throughout the balance of 2023. Fed Should Anticipate Further Easing in Rents The housing sector is currently a significant factor impacting inflation in 2023. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Economy Communication 52

James Hendries

JULY 3, 2023

billion through mid-June—bankers see the second half of 2023 and 2024 poised for considerable improvement. Today, at the end of the first half of 2023, Apple crossed $3 trillion in market capitalization, making it the largest company globally. It is also a major component used to calculate the price-to-earnings valuation ratio.

Marketing 52

Marketing Marketing Banking Valuation 52

James Hendries

MARCH 6, 2023

Higher interest rates are challenging stock valuations and perhaps pushing the gains further out in 2023, but we still see solid potential for double-digit returns for stocks this year. Earnings per share (EPS) is the portion of a company’s profit allocated to each outstanding share of common stock. All index data from FactSet.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

SEPTEMBER 27, 2022

The LPL Research Strategic and Tactical Asset Allocation Committee is increasing its recommended interest rate exposure in its tactical allocation from underweight to neutral. Earnings per share (EPS) is the portion of a company’s profit allocated to each outstanding share of common stock. All index data from FactSet.

Asset Allocation 52

Asset Allocation Marketing Marketing Assets 52

Random Roger's Retirement Planning

MAY 2, 2024

Finomial looked at the excess return generated long only factors like momentum, quality, various valuation metrics and I would add covered call fund to this discussion too. The time period is short obviously but the asset allocation appears to work. A few different things for this post.

Portfolio 59

Portfolio Asset Allocation Investing Investments 59

The Better Letter

JANUARY 26, 2024

” Dent called for “ the collapse of our lifetime ” – an 86 percent loss for the S&P 500; 86 percent on the Russell 2000; 92 percent on the Nasdaq – by June 2023. 2014 : “What concerns us beyond valuations is the full ensemble of overvalued, overbought, overbullish conditions.”

Assets 103

Assets Valuation Management Investing 103

The Big Picture

MAY 9, 2023

So what we find, and then of course we have a multi-asset solutions business where we talk to clients about the entirety of their portfolio, their strategic asset allocation models. So you’re Chief Investment officer of Asset and Wealth Management. How do you look at 2023 from an investment perspective?

Assets 286

Assets Clients Investing Investments 286

The Big Picture

MARCH 5, 2024

So they’d give individual asset allocation to people and they’d go invest their money. What happened over the last year and a half or so is rates went up and valuations went down. Artificial intelligence, AI dominated the the 2023 narrative. billion financing on their high performance compute assets.

Banking 141

Banking Portfolio Assets Investing 141

James Hendries

NOVEMBER 15, 2022

However, the debate is heating up as investors begin to consider whether the pendulum will swing back to growth if inflation and interest rates decline in 2023. Increasing the discount rate, which lowers the present value of future cash flows, and company valuations. Value vs. Growth – Value Takes 2022. Future cash flows are devalued.

Marketing 52

Marketing Marketing Asset Allocation Valuation 52

James Hendries

JULY 13, 2022

Increased equity exposure in tactical asset allocation from 62% to 65%. Reduced low duration core bond allocation and increased allocation to small cap equities. The Strategic and Tactical Asset Allocation Committee (STAAC) changed its recommended asset allocation for July, shifting from core bonds to small cap equities.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

NOVEMBER 22, 2022

in May or June of 2023. In this week’s Weekly Market Commentary, we explore historical equity and fixed income market performance surrounding a Fed pivot, including the prospect for solid stock performance in the back half of 2023. A light at the end of the tightening tunnel. Headline consumer inflation decelerated last month to 7.7%

Marketing 52

Marketing Marketing Valuation Asset Allocation 52

James Hendries

DECEMBER 4, 2022

In this week’s Weekly Market Commentary we share insights on publicly traded retailers, analyze their underperformance year to date, and look forward to 2023. Retailer valuations have also taken a hit, as the forward (next 12 months) P/E multiple has contracted ~20% year to date, from ~27x to ~22x currently.

Retail 52

Retail Marketing Marketing Sales 52

James Hendries

AUGUST 15, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) made no changes to its recommended asset allocation for August. The LPL Research S&P 500 year-end fair value target range remains 4,300—4,400, based on a price-to-earnings ratio (PE) of 18-19 and an earnings per share (EPS) forecast of $235 for 2023.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

James Hendries

AUGUST 15, 2022

The economy needs a stable and productive workforce to handle tighter financial conditions and growing uncertainty about 2023. We won’t predict a soft landing, but there is a plausible scenario where a mild recession comes in 2023, the S&P 500 does not retest its June 2022 lows, and stocks are nicely higher in a year. Conclusion.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

DECEMBER 12, 2022

Market participants will be looking for more evidence of waning inflation and seasonal tailwinds to help stocks finish 2023 on a positive note. The Strategic and Tactical Asset Allocation Committee’s (STAAC) S&P 500 year-end fair value target of 4,000-4,100 is based on a price-to-earnings ratio of 17.5

Portfolio 52

Portfolio Taxes Asset Allocation Investing 52

James Hendries

NOVEMBER 15, 2022

The Strategic and Tactical Asset Allocation Committee’s (STAAC) S&P 500 year-end fair value target of 4,000-4,100 is based on a price-to-earnings ratio of 17.5 times the STAAC’s 2023 S&P 500 earnings per share forecast of $230. It is also a major component used to calculate the price-toearnings valuation ratio.

Portfolio 52

Portfolio Taxes Government Investment Advisor 52

James Hendries

OCTOBER 7, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) upgraded its view of duration to neutral. times the Committee’s 2023 S&P 500 earnings per share forecast of $230. It is also a major component used to calculate the price-toearnings valuation ratio. Click here to download a PDF of this report.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

SEPTEMBER 8, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) downgraded its view of emerging market (EM) equities in August. The LPL Research S&P 500 year-end fair value target range remains 4,300— 4,400, based on a price-to earnings ratio (PE) of 18-19 and an earnings per share (EPS) forecast of $235 for 2023.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

The Big Picture

AUGUST 29, 2023

So there’s been a big push for folks to get the appropriate level of asset allocation in a highly diversified, low cost way. DAVIS: Where international equities, because of valuations, probably 7% to 7.5%. RITHOLTZ: So let’s talk about that, because that gap in valuation has persisted for a long time.

Portfolio 130

Portfolio Investing Investments Numbers 130

Dear Mr. Market

MARCH 11, 2023

Click here or below to enlarge and see the entire bracket for 2023. IBM loses to QCOM based on valuation. It’s top sector weighting is currently 30.14% in Financials which will be another smart place to be later on in 2023. That being said, this is very much worthy of a long-term investment.

Investing 105

Investing Investments Portfolio Assets 105

Truemind Capital

OCTOBER 17, 2023

The positive global perception and growing domestic inflows ensure that the premium valuations of the Indian market are maintained. Some of the institutions dropped coverage or discouraged investing in Mid & Small Cap stocks owing to very expensive valuations boosted primarily by retail participation lured by past returns.

Financial Market 52

Financial Market Marketing Marketing Asset Allocation 52

The Big Picture

MARCH 26, 2024

He wasn’t tactical asset allocator. Let’s talk about 2022 and 2023. 00:33:35 [Speaker Changed] So let’s flip it on its head 2023 s and P 500 up almost 25%. It’s about long-term planning and strategic asset allocation and, and just understanding how markets work and how behavior comes into the mix.

Investing 141

Investing Investments Marketing Marketing 141

The Big Picture

MARCH 14, 2023

He launched his own firm right into the teeth of the collapse in ’09, which turned out to be quite a fortuitous time to launch an asset management shop. Everybody wants to sell a company when they get a good valuation. Obviously, profits, very important to company valuation — BERNSTEIN: Absolutely. BERNSTEIN: Correct.

Economy 152

Economy Investing Investments Portfolio 152

The Big Picture

DECEMBER 20, 2022

It’s just a fascinating conversation about looking at the world from both bottoms up and top-down, as well as thinking about what valuations are like, how likely are macro events, the impact you’re getting not just the return on capital, but as famously said in fixed income, a return of your capital. RITHOLTZ: Really quite fascinating.

Banking 152

Banking Assets Government Investing 152

James Hendries

JULY 6, 2022

While we acknowledge that a V-shaped recovery is probably not in the cards and prior valuation targets no longer appear achievable, we remain constructive on equities for the second half, but not complacent. Remember stock valuations are inversely correlated to inflation and interest rates. So a P/E over 20 is probably too rich.

Marketing 52

Marketing Marketing Valuation Economy 52