James Hendries

AUGUST 15, 2022

Market-based interest rates those not controlled by the Fed—have come down quite a bit, supporting stock valuations. But we believe the combination of low valuations, lower interest rates, prospects for lower inflation, and the possibility that the Fed signals a pause over the upcoming months tip the scales toward the bulls.

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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. Investing involves risks including possible loss of principal. Indexes are unmanaged statistical composites and cannot be invested into directly.

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Marketing Marketing Economy Economics 52

James Hendries

NOVEMBER 3, 2022

Still, as we survey what are better equity valuations, long-awaited income opportunities in the bond market, and a likely less-antagonistic Fed in 2023, there may be emerging reasons to believe that the next year may be more constructive than the last. Investing involves risks including possible loss of principal.

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Clients Asset Allocation Investment Advisor Economics 52

James Hendries

MARCH 13, 2023

However, the pressure on valuations from higher interest rates, which have made bonds attractive alternatives, led to the Committee’s recent decision to reduce the size of the overweight from 5 points to 3. But valuations strongly favor value over growth. Investing involves risks including possible loss of principal.

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ClearMoney

DECEMBER 5, 2021

Assessing the merits of bitcoin as an investment can be problematic. Adding it to a portfolio could mean paring back the allocation to investments such as stocks, property, or fixed income. But those in search of a sound investment should consider the concerns of the Financial Conduct Authority above before joining the excitement.

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James Hendries

JUNE 26, 2023

Investment Outlook Stocks have had a strong rally over the past eight months to establish 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. Investing involves risks including possible loss of principal.

Marketing 52

Marketing Marketing Asset Allocation Valuation 52

James Hendries

JULY 21, 2022

Lower inflation tends to bring higher valuations (Fig.1). The market clearly does not expect 8 – 9% inflation to persist based on current stock valuations, but whether inflation eventually settles at 3% or 4% will go a long way toward determining how much higher stock valuations can go from current levels. If the U.S.

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Management Marketing Marketing Valuation 52

James Hendries

JULY 3, 2023

Later on, funding becomes essential, either via private equity, venture capital, or a direct relationship with investment banks, and even the Bank of Mom and Dad. A Fed pause is likely coming soon, if it’s not already here, as inflation continues to ease, supporting the case for staying fully invested. We think core bond sectors (U.S.

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Marketing Marketing Banking Valuation 52

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

OCTOBER 18, 2022

But overall, we would expect modest estimate cuts to be received positively by markets, supported by lower valuations and depressed investor sentiment. rather than 4%) could prop up valuations, stocks will likely take their cues from earnings in the near term. Investing involves risks including possible loss of principal.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

SEPTEMBER 13, 2022

Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Insurance products are offered through LPL or its licensed affiliates.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

AUGUST 3, 2022

That doesn’t take away from the fact that higher inflation is causing consumer spending to slow, while higher interest rates are weighing heavily on business investment. Investing involves risks including possible loss of principal. Indexes are unmanaged statistical composites and cannot be invested into directly.

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Sara Grillo

NOVEMBER 14, 2022

He is a flat fee advisor; not a licensed insurance agent. Financial advisors have many options at their hands to solve it, from financial planning and investment management services to fixed products such as annuities. Fee only advisors can now purchase annuities for their clients without having to be licensed agents.

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James Hendries

NOVEMBER 15, 2022

Growth stocks typically trade at higher valuations on the premise that an investor is buying a company now that will grow to be a much larger company, producing higher levels of cash and profit in the future. Increasing the discount rate, which lowers the present value of future cash flows, and company valuations.

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Marketing Marketing Asset Allocation Valuation 52

James Hendries

AUGUST 30, 2022

In our Midyear Outlook 2022: Navigating Turbulence , released back in mid-July, we wrote that it was tough to see the bull case through the cloud cover, but that an improved macroeconomic environment may set the stage for higher valuations, further earnings growth, and solid gains for stocks over the rest of the year.

Marketing 52

Marketing Marketing Valuation Economics 52

James Hendries

JUNE 20, 2023

Summary and Investment Outlook Periods of economic regime shifts are difficult for policymakers to manage. Despite the reference to 2007, our baseline is the economic slowdown does not produce another “2008,” yet investors should anticipate some volatility as the economic outlook remains cloudy. We think core bond sectors (U.S.

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Marketing Marketing Economy Communication 52

James Hendries

JANUARY 31, 2023

Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. All investing involves risk, including possible loss of principal.

Marketing 52

Marketing Marketing Valuation Insurance 52

James Hendries

NOVEMBER 22, 2022

Marc Zabicki , CFA , Chief Investment Officer, LPL Financial . Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly.

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Marketing Marketing Valuation Asset Allocation 52

James Hendries

DECEMBER 4, 2022

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. Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index.

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Retail Marketing Marketing Sales 52

James Hendries

AUGUST 15, 2022

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. Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index.

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Marketing Marketing Economy Valuation 52

ClearMoney

NOVEMBER 4, 2021

per year in the US,3 as validation for investing in momentum-focused strategies. Exhibit 4 shows marked inconsistency in valuation characteristics for the three largest US equity momentum funds during the value premium rally of late 2020 through early 2021. Some see its outsize historical premium, 9.1% Object in Motion.

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James Hendries

OCTOBER 11, 2022

operate Liability Driven Investment (LDI) programs whereby they use derivatives to gain leveraged exposure to, supposedly safe, gilts. Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. financial system.

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Marketing Marketing Banking Government 52

James Hendries

JANUARY 20, 2023

Using the S&P 500 as the investible universe, a hypothetical long-only portfolio is constructed of the top quintile (top 20 percent) of stocks’ estimate revisions composite score. Investing involves risks including possible loss of principal. Indexes are unmanaged statistical composites and cannot be invested into directly.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

NOVEMBER 1, 2022

Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Insurance products are offered through LPL or its licensed affiliates.

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Marketing Marketing Manufacturing Economy 52

James Hendries

SEPTEMBER 27, 2022

That said, for those income-oriented investors who mostly or exclusively hold bonds and don’t need fixed income to diversify stock holdings, we think there are ample opportunities in shorter maturity Treasury and investment-grade corporate securities. Core plus bond funds have more latitude to invest in out-of-benchmark (i.e.,

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Asset Allocation Marketing Marketing Assets 52

James Hendries

SEPTEMBER 20, 2022

This is referred to as an inverted yield curve, which has been a pretty reliable predictor of economic recessions. What was once thought of as a conservative investment has turned out to be anything but conservative this year. Investing involves risks including possible loss of principal. Conclusion.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

OCTOBER 4, 2022

Market reforms, trade with the West, and allowing foreign investment led to an economic boom that was characterized by the World Bank as “the fastest sustained expansion by a major economy in history.” Similarly, Chinese entities, especially real-estate companies, invested throughout the U.S. At the same time, U.S. and Europe.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

SEPTEMBER 7, 2022

in September (source: Bespoke Investment Group). Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly.

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Marketing Marketing Valuation Insurance 52

Trade Brains

MAY 6, 2023

However, still, it is much better than losing 90% of your investment amount. This further raised a red flag to investors looking to invest in the company. The carrier also lost its flying license during the period. The company has also got its license back recently and may be at the cusp of a turnaround. Happy Investing!

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James Hendries

JANUARY 26, 2023

We believe China-heavy emerging market equities are more of a trade than a long-term investment at this point. Should the Fed pause after a March interest rate hike, the stage may be set for a nice stock market rebound on the back of falling inflation, reasonable valuations, and stable interest rates.

Marketing 52

Marketing Marketing Economy Economics 52

James Hendries

AUGUST 15, 2022

Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Insurance products are offered through LPL or its licensed affiliates.

Marketing 52

Marketing Marketing Economy Valuation 52

James Hendries

NOVEMBER 8, 2022

Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Insurance products are offered through LPL or its licensed affiliates.

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Marketing Marketing Government Banking 52

James Hendries

FEBRUARY 27, 2023

The equity market ended the year roughly flat so investors who were able to invest after that large drawdown were rewarded. Investing involves risks including possible loss of principal. References to markets, asset classes, and sectors are generally regarding the corresponding market index. All index data from FactSet.

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Marketing Marketing Government Economy 52

Brown Advisory

AUGUST 24, 2017

Because of the cyclical nature of many real estate markets—and especially due to the recent painful memories of the mortgage crisis—many investors think that the only way to make money in real estate is to “catch a wave”—in other words, to invest in the right place and at the right time. Low correlation with other core asset classes.

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Brown Advisory

SEPTEMBER 22, 2017

ESG and the Stock-­Picker’s Dilemma achen Fri, 09/22/2017 - 12:58 One of the greatest challenges that public equities investors face to integrating environmental, social, and governance (ESG) data into their decision making is the lack of proof that real – not hypothetical – investment strategies can use ESG factors to enhance performance.

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Brown Advisory

SEPTEMBER 22, 2017

One of the greatest challenges that public equities investors face to integrating environmental, social, and governance (ESG) data into their decision making is the lack of proof that real – not hypothetical – investment strategies can use ESG factors to enhance performance. The Search for an ESG Investment Edge.

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The Big Picture

FEBRUARY 7, 2023

BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest, Bill Cohan is a fixture on Wall Street for a long time, both as an investment banker at Lazard Freres and eventually Merrill and JPMorgan Chase, as well as an author. RITHOLTZ: So, you ended up becoming an investment banker.

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