James Hendries

JANUARY 13, 2023

Lessons learned: Economic forecasts The Fed’s bark was as bad as its bite! Investors have been carefully dissecting Federal Reserve (Fed) officials’ words for decades, and depending on the composition of the Federal Open Market Committee (FOMC), its bark is often worse than its bite. But this time was probably different. Caveat emptor.

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James Hendries

NOVEMBER 8, 2022

We believe either outcome would be market-friendly, although the bigger market driver will likely be central banks’ efforts to tame inflation. In this week’s Weekly Market Commentary , we look at why the stock market may respond favorably to the midterm election, whatever the outcome.

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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 S&P 500 Index entered a bear market in June, falling more than 20% from its January 3 high. After an 8.4% Treasury yield hit a decade high 3.5%

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James Hendries

AUGUST 15, 2022

The market pundits remain intensely focused on the question of whether the U.S. economy is in or about to enter recession, so we thought a piece on what a recession might mean for the stock market would be of interest. Trends give a wider context for the labor market. So far, wages have not kept up with inflation.

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James Hendries

NOVEMBER 3, 2022

From a contrarian perspective, extreme pessimism can often be followed by a market bounce. Such a reaction can serve as a reminder not to react too quickly to near-term market developments. The market is always forward-looking, and asset prices tend to reflect what may happen months or quarters ahead.

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James Hendries

NOVEMBER 22, 2022

While the market has welcomed this news, history suggests the path to a Fed pivot could be volatile for stocks due to elevated inflation and interest rate risk. The lower trajectory in inflation has provided the market with much-needed visibility around Fed tightening coming to an end. in May or June of 2023. Sound familiar?

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James Hendries

AUGUST 15, 2022

due to expectations of slowing economic growth. The Strategic and Tactical Asset Allocation Committee (STAAC) made no changes to its recommended asset allocation for August. Any economic forecasts set forth may not develop as predicted and are subject to change. We could see a retest of 3.5%

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James Hendries

NOVEMBER 15, 2022

In this week’s Weekly Market Commentary we look at the factors driving value’s 2022 outperformance, the technical trading setup for growth and value, and what to look for in the coming months. The LPL Research STAAC continues to favor a tilt toward value from an asset allocation perspective.

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James Hendries

JULY 6, 2022

Stocks have been unable to make up much ground since the June 16 lows, with a bear market rally amounting to only around a 4.3% Money market assets are also nearly $1 trillion above December 2019 levels. So what is this market worth? gain in the S&P 500 Index since then (as of July 1). households held $3.2

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ClearMoney

NOVEMBER 4, 2021

As with many things in life, the truth is somewhere between the extremes: While both simulated and real-world data suggest momentum may not be suitable as a driver of long-term asset allocations, we believe momentum considerations can be integrated in a cost-effective way to help inform daily portfolio management decisions.

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ClearMoney

FEBRUARY 22, 2022

Markets Drop as Turbulent Trading Persists”. Do large losses in a handful of popular stocks signal a downturn ahead for the broad market? This is just another version of the market timing question dressed in different clothes. Tactical Asset Allocation: Periodic shifts in allocation to stocks.

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ClearMoney

JANUARY 4, 2022

And it was a year that showed, again, the difficulty of making investment decisions based on predictions of where markets will go—as well as the enduring benefits of diversification and flexibility. An investor pondering those questions might take comfort knowing that many assets in the past have outpaced even above-average inflation.).

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James Hendries

NOVEMBER 15, 2022

The market’s expectation that the Fed may need to take rates higher and stay there longer than previously anticipated helped pushed Treasury yields higher. 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

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James Hendries

SEPTEMBER 8, 2022

Key changes from August report: Downgrading emerging market (EM) equities view from neutral to negative. Recession fears continue to linger as markets adjust to a Fed that may keep rates higher for longer. The Strategic and Tactical Asset Allocation Committee (STAAC) downgraded its view of emerging market (EM) equities in August.

Portfolio 52

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James Hendries

OCTOBER 7, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) upgraded its view of duration to neutral. Any economic forecasts set forth may not develop as predicted and are subject to change. Value investments can perform differently from the market as a whole and can remain undervalued by the market for long periods of time.

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ClearMoney

MARCH 1, 2022

A more nuanced framework takes the spirit of active and passive definitions—betting against market prices vs. embracing them—and examines how it applies to an investment’s underlying philosophy and implementation. So, the arrival of index funds represented a shift towards embracing market prices—if you can’t beat ’em, join ’em!

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Brown Advisory

SEPTEMBER 22, 2017

In contrast, we look at this topic predominantly from the perspective of idiosyncratic risk: can one use ESG information to identify exceptional companies that produce investment returns above what can be explained by market risk factors? This work builds on the Capital Asset Pricing Model developed in the 1960s.)

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Brown Advisory

SEPTEMBER 22, 2017

In contrast, we look at this topic predominantly from the perspective of idiosyncratic risk: can one use ESG information to identify exceptional companies that produce investment returns above what can be explained by market risk factors? This work builds on the Capital Asset Pricing Model developed in the 1960s.)

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The Big Picture

JUNE 20, 2023

Yes, there’s a legitimate need and use for private equities, especially in mid-markets where, to be blunt, Wall Street has just abandoned that space and gone upmarket, creating a vacuum. Anyway… RITHOLTZ: And I don’t recall that bear market at all. MORGENSON: Right. RITHOLTZ: Right. MORGENSON: Wait, wait, wait.

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