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while opinions on the U.S. bond market make headlines, we share a few facts that may help long-term bond investors

Three Things Investors Should Know About Today’s Bond Market

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

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While the merits of global diversification have always been strong, recent events provide new considerations that point back to the potential risk management benefits of spreading our portfolios across the broader opportunity set.

Deglobalization, Currency Movements & the Case for Global Diversification

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

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Heavy Weights: The Real Story Behind Current Market Concentration

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

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goals-based portfolios

Investment Risk, Investor Risk Tolerance and Behavioral Goals-Based Portfolios

Consider your answer to the following question: “Suppose you are given an opportunity to replace your current investment portfolio with a new portfolio. The new portfolio has a 50-50 chance to increase by 50% your standard of living during your lifetime. However, the new portfolio also has a 50-50 chance to decrease your standard of

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