Articles
Don’t forget about small caps!
The Importance of Small Cap Stocks in a Diversified Portfolio Small cap stocks, as defined by the popular, but flawed, Russell 2000 Index comprise approximately 6% of the total US market today. The record outperformance of large cap names over the past decade led many to neglect the role these
Active Investors in Small-cap and non-US Markets Outperformed Popular Index Funds
Over the past decade many investors abandoned actively traded mutual funds and separately managed accounts in favor of lower cost passive strategies. Morningstar recently estimated that passive funds make up 38% of the global market. The motivation for this shift stems from the belief that most active strategies do not
A tough run for the Ivys?
University endowments report their investment performance on a June 30 fiscal year-end. With the market declines last year, the 2022 performance, which tracked July 1, 2021 through June 30, 2022, reflected the double-digit declines of both the equity and bond markets. The largest university endowments posted negative returns, but outperformed
Russia’s Ukraine Invasion will Accelerate Deglobalization and Increase Inflation Risks
Russia invaded Ukraine this week in the largest European military action since World War Two. At this point, Putin’s goal looks to be overthrowing the democratically elected government and installing a puppet regime, like that which ruled the country before the 2014 Revolution. While Russia possesses vastly superior military forces,
The Beginning of the End?
With the election results and positive vaccine news, investors now possess a clearer picture of the next few years. A Biden victory, without the predicted ‘Blue Wave’ giving the Democrats dominance in the Senate, reduces the likelihood of major policy changes. A smaller fiscal stimulus may be the first change. The Democrats had planned on a massive fiscal stimulus, and now a
The End of the Beginning
Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning. Winston Churchill Equity markets continue to rally as the COVID-19 pandemic in the US and Europe appears to be peaking. After the Federal Reserve stepped in