This is our third quarterly review of the markets for 2015. As you know, we do not believe in making forecasts, but we comment on cross currents influencing the markets. As usual, our goal is to look at recent market results, put them in perspective, and see how… Read More »2015 Q3 Market Review: China Dominates the Headlines and Rate Increases get Deferred
Because the markets have been rocky recently, I write to put these events in context. Market drops usually create an emotional response, when what we really need to do is to step back, take a deep breath, and behave rationally. If you have done planning with me, that… Read More »Putting Recent Market Events in Context
This is our second quarterly review of the markets for 2015. As you know, we do not believe in making forecasts, but we comment on cross currents influencing the markets. As usual, our goal is to look at recent market results, put them in perspective, and see how… Read More »2015 Q2 Market Review: Greece Dominates the Headlines
We begin the new year by taking our regular quarterly temperature of the markets. As you know, we do not believe in making forecasts, but we also comment on what to watch for in 2015. As usual, our goal is to look at recent market results, put them… Read More »2014 Q4 Market Review: A Look Behind and Look Ahead
This quarterly market review is a bit delayed. Nonetheless, we will take our regular temperature of the markets, with a bit of an update through October, since things keep changing. As usual, our goal is to look at recent market results, put them in perspective, and see how that… Read More »2014 Q3 Market Review: Volatility Returns
This month we take our regular quarterly temperature of the markets. We look at recent market results with the goal of putting them in some perspective, and to see how that experience should set our expectations going forward. This month’s newsletter looks at the following topics: 2014 Q2… Read More »2014 Q2 Market Review: Everything Rises–Don’t Worry be Happy, or Worry a Lot?
Recent events at Pimco illustrate how things can change even at the best of firms. We discuss how this illustrates the monitoring required if you use active managers, the limitations of many 401(k) plans, and how it relates to our philosophy on using mostly passive investment in client… Read More »Upheaval at Pimco: What it says About Using Active Management
What a difference a year makes! Early in 2013, things were incredibly unsettled: markets continued to teeter based on the most recent news from Europe, we had just “gone over the fiscal cliff,” we all wondered what the impact of the sequester would be, Congress was always divided… Read More »2013 Markets Review
Investors, be alert for the fact that things will look very different for fund performance once we close 2013. By December of this year, five-year calculations of fund performance will drop off the impact of 2008. We should expect that trailing fund results will suddenly look quite a… Read More »Be Ready for Performance Claims
If you have not already read this in the press, be forewarned that the SEC lifted an 80-year-old ban and will now allow hedge fund to solicit funds not only from sophisticated investors, but from any who meet a minimum standard of $1 million in net worth or… Read More »Here Come the Hedgies!