What do gold, cryptocurrencies like Bitcoin (BTC), paintings, furs and diamonds all have in common? Things you’ve seen on a “Real Housewives” episode, you say? Maybe so, but here’s what we had in mind. Each is an asset that produces no cash flow. They’re like buying a goose that lays no eggs. Unlike stocks and […]
What’s Up with Gold? Read More »
Declining interest rates are generally a good thing for bond returns. All else being equal, as bond yields go down, their prices go up. Many people are familiar with this relationship, but what about stocks? Can declining interest rates inform our expectations for future stock returns? This question has come into focus for many investors
What Do Declining Interest Rates Mean for Stock Returns? Read More »
U.S. gross domestic product (GDP) — a key economic measure capturing the total value of goods and services produced — was recently announced at an estimated growth rate of 3.0% for the second quarter. This follows a -0.5% decline in the prior quarter, which was the first time quarterly U.S. GDP shrank in three years.
What’s in a GDP Number? Read More »
In a volatile year for U.S. stocks, the overall U.S. bond market has maintained a positive year-to-date total return throughout 2025. For investors allocating to balanced portfolios of both asset classes, bonds are likely to have played a useful role, sometimes helping offset periods of disappointing stock returns and reducing total portfolio volatility. However, this
Three Things Investors Should Know About Today’s Bond Market Read More »
A recent study from Morningstar’s Jeff Ptak estimates that the average U.S. fund investor held about 82% of their equity portfolios in U.S. stocks as of late 2024.1 Although the U.S. market has undoubtedly grown relative to non-U.S. stocks over the last 15 to 20 years (as shown in Figure 1), 82% is still far
Deglobalization, Currency Movements & the Case for Global Diversification Read More »
OVERVIEW: Market Summary World Stock Market Performance World Asset Classes US Stocks International Developed Stocks Emerging Markets Stocks Select Market Performance Select Currency Performance vs. US Dollar Real Estate Investment Trusts (REITs) Commodities Fixed Income Global Fixed Income Impact of Diversification Quarterly Topic: Tariff Target Markers CONTINUE READING
First Quarter 2025 – Quarterly Market Review Read More »
Many consider Warren Buffett to be the most famous value investor the world has ever known. This can be debated, but with an investment career that spans nearly seven decades, he has undeniably learned a thing or two about markets. How else would you get a nickname like the Oracle of Omaha? An enduring and
Lessons From the Oracle Read More »
Two years ago, the concentration of the U.S. stock market in its largest companies looked high compared to recent history. Today, some might say market concentration appears really high. At the end of 2024, the 10 largest companies in the S&P 500® Index made up 37.3% of the index by market capitalization. This means that
Heavy Weights: The Real Story Behind Current Market Concentration Read More »
OVERVIEW: Market Summary World Stock Market Performance World Asset Classes US Stocks International Developed Stocks Emerging Markets Stocks Select Market Performance Select Currency Performance vs. US Dollar Real Estate Investment Trusts (REITs) Commodities Fixed Income Global Fixed Income Impact of Diversification Quarterly Topic: How to Feel About Consumer Feelings. CONTINUE READING
Fourth Quarter 2024 – Quarterly Market Review Read More »
Have you ever written down, at the start of a year, predictions for what will happen in the year ahead? For investors, taking note of your beliefs about the market or economy and then coming back later to inspect can be a good exercise in understanding the difficulties of forecasting. It’s a lesson we can
2024 Market Forecasters’ Report Card Read More »