Brown Advisory

MAY 10, 2018

In this article, our head of asset allocation discusses how we are managing trade risk, while still embracing global growth opportunities in our portfolios. Reported corporate information regarding sales by region is far from perfect, but we have enough to paint a reasonable picture. Tariffs: Bark or Bite?

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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 S&P 600 small cap index has returned about 1.5%

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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. If you've never heard of covered puts, basically it is the trade of selling short a stock and selling a put against the short sale.

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Brown Advisory

NOVEMBER 12, 2019

Equity returns are less predictable, but we believe they are more likely than not to be lower going forward compared to the post-crisis period, given the outlook for modest GDP growth around the world alongside today’s elevated valuations. In fact, Subaru has more than tripled its unit sales in the U.S. over the past decade.

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Brown Advisory

NOVEMBER 12, 2019

Equity returns are less predictable, but we believe they are more likely than not to be lower going forward compared to the post-crisis period, given the outlook for modest GDP growth around the world alongside today’s elevated valuations. In fact, Subaru has more than tripled its unit sales in the U.S. over the past decade.

Investing 52

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James Hendries

JUNE 26, 2023

However, the impending end of the Federal Reserve (Fed) rate-hiking campaign, and the economy’s and corporate America’s resilience, help make the bull case that steers LPL Research toward a neutral, rather than negative, equities view from a tactical asset allocation perspective. At the same time, the resilience of the U.S.

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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. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges.

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Brown Advisory

NOVEMBER 14, 2017

While this shift in monetary policy may ultimately have important implications for asset allocation and other investment decisions, we’re not convinced that its near-term impact will be particularly significant. Will the pace of bond sales accelerate? Meanwhile, we continue to focus on security selection.

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Brown Advisory

NOVEMBER 14, 2017

While this shift in monetary policy may ultimately have important implications for asset allocation and other investment decisions, we’re not convinced that its near-term impact will be particularly significant. Will the pace of bond sales accelerate? Meanwhile, we continue to focus on security selection.

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James Hendries

DECEMBER 4, 2022

Economic and corporate data support the initial strong reads on holiday retail sales despite the macro headwinds, reinforcing the idea that today’s consumer is in a better position than usual at this point in the business cycle. Retail Sales Data Supports Initial Holiday Shopping Trends. over the last 20 years, pre-2020.

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James Hendries

NOVEMBER 15, 2022

One equity market debate discussed frequently in the LPL Research Strategic & Tactical Asset Allocation Committee (STAAC) is the growth vs. value style reversal experienced the past 12 months. comparatively faster sales or earnings growth) than peers. Value vs. Growth – Value Takes 2022. large cap S&P 500 Index.

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James Hendries

JANUARY 13, 2023

economy to avoid recession, and support above-average valuations. The relationship between inflation and stock valuations is a strong one, as shown in Figure 2 , which meant the market could no longer support price-to-earnings (P/E) ratios over 20 (the same goes for the relationship between interest rates and stock valuations).

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The Better Letter

JANUARY 26, 2024

The more fear, the better the sales.” If you want to make a sale, find a bogey-man, explain why your marks should be terrified of him, tell them who is to blame for the bogy-man’s offenses, and offer a purported remedy. 2020 : “[E]xtreme valuations. Fear makes money. Gardner goes on to recount how post-9.11

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James Hendries

JUNE 20, 2023

LPL’s Strategic and Tactical Asset Allocation Committee (STAAC) recommends a neutral tactical allocation to equities, with a modest overweight to fixed income funded from cash. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges.

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Brown Advisory

MARCH 30, 2020

Consider how we defined investment risk in our 2018 asset allocation publication, Confronting the Unknown: “The probability that a portfolio will not meet an investor’s needs.” Federal Reserve’s steep rate cuts in March, bond yields broadly rose due to widespread sales of fixed income assets. Despite the U.S.

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Brown Advisory

MARCH 30, 2020

Consider how we defined investment risk in our 2018 asset allocation publication, Confronting the Unknown: “The probability that a portfolio will not meet an investor’s needs.” Federal Reserve’s steep rate cuts in March, bond yields broadly rose due to widespread sales of fixed income assets. Despite the U.S.

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James Hendries

JULY 3, 2023

While this latest rally may have outpaced fundamentals in the short term, from a technical analysis perspective, and valuations look full, at the same time, the resilience of the U.S. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges.

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James Hendries

AUGUST 15, 2022

We maintain our preference for equities over fixed income and cash in our recommended tactical asset allocation. Stock valuations are higher but bond yields are still low enough to support valuations with the 10-year Treasury yield well under 3% despite the big jobs number. All index data from FactSet.

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James Hendries

NOVEMBER 22, 2022

Recent wholesale inflation tells a similar story of a peak in pricing pressures, which has been the expectation of the Strategic and Tactical Asset Allocation Committee (STAAC) at LPL Research. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges.

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Marketing Marketing Valuation Asset Allocation 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. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges.

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The Big Picture

AUGUST 29, 2023

I did an internship in the summer at Citibank Securities in fixed income sales and trading. But the reason I went to Merrill is because they had this unique global debt rotation program that allowed you to rotate through a couple different business units in fixed income, sales and trading. And I knew I wanted to do trading.

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Brown Advisory

JUNE 16, 2016

Gifts or sales of your ownership interest in a family business to your heirs may be helpful, but effectiveness hinges on how much you can discount the value of your interest when gifting or selling it. Again, transactions of this nature require substantial lead time, for documenting the transaction, appraising assets and valuing the business.

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Dear Mr. Market

MARCH 11, 2023

IBM loses to QCOM based on valuation. Lastly, “wherever there is a buyer there is a seller” and once the dust settles, the banking sector is going to have some absolute gems available for sale. Pull up a five year chart on them compared to the rest of the market and you’ll see a picture of growth.

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The Big Picture

MARCH 12, 2024

They’re asset allocation model driven folks. And we’ve automated the, the appraisal process for valuation, both intrinsic value, meaning like, where would we pay it, where would we buy it, and where is the fair market price that asset from that level, from price and from consumer behavior now.

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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.

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James Hendries

NOVEMBER 8, 2022

Barry Gilbert , PhD, CFA, Asset Allocation Strategist, LPL Financial. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. Earnings per share (EPS) is the portion of a company’s profit allocated to each outstanding share of common stock.

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