The Leveraged and Inverse Funds Channel

Problems Solved?

Brexit and trade talks provided lots of uncertainty this year. Last week saw progress on both fronts.

Expecting a Market Downturn? Make Sure You’re Following the “Noah Rule”

Predicting a major economic or financial event—whether that’s a recession, market downturn or even your own retirement—requires that you also take action. Otherwise your prediction was meaningless.

Insured municipals offer investors additional assurance

Insured bonds continue to pay interest and principal even if an issuer defaults.

All Asset All Access, December 2019

Research Affiliates discusses why they believe value investing is still alive and well and explains how changes to the display of expense ratios seek to enhance clarity for investors.

Gundlach on the Biggest Risk Facing Bond Investors and the Likely Next President

Fear among bond investors is focused on rising rates, but Jeffrey Gundlach says you should worry about something more sinister. In his webcast yesterday, he also offered his updated 2020 presidential election prediction.

Salve for a Constrained Repo Market, or Potential Funding Destabilizer?

The recent repo squall shined a spotlight on “sponsored repo” transactions, a growing segment of the U.S. overnight funding market.

Sifting Through the Froth

Positive returns across asset classes in 2019 may limit tax loss selling in closed-end funds, but we see potential long term value in select sectors where investors can still buy assets at a discount.

Was Renaissance’s Success Luck or Skill – And Was It Behind Trump’s Victory?

The hedge fund firm Renaissance Technologies, founded by James Simons, has been an object of amazement, admiration, and envy for years, because of the incredibly high investment returns of its flagship Medallion fund. In a new book, author Gregory Zuckerman explains how Renaissance did it. He also shows how a key Renaissance employee used his riches to get Donald Trump elected president.

Treading Carefully: Risk and Opportunity in CLOs and Bank Loans

While many risk assets have rallied in 2019, the lower-rated tranches of collateralized loan obligations (CLOs) have weakened. Is this a sign that the credit cycle is turning?

What's Next for China A-Shares Inclusion in MSCI Indices

Improvements in accessibility are expected to accelerate further inclusion in the near term.

November Jobs Report: 266K New Jobs, Better Than Forecast

This morning's employment report for November showed a 266K increase in total nonfarm payrolls, which was above the forecast of 186K.

The Meaning of Valuation

The recent half-cycle has been admittedly difficult. My bearish response to historically-reliable “overvalued, overbought, overbullish” syndromes proved detrimental in the face of zero-interest rate policies that amplified speculation, and we’ve adapted our discipline to give priority to our measures of market internals – which we use to gauge that speculation.

Principles of Valuation Part 2: Price Is What You Pay, Value Is What You Get

The venerable investor Warren Buffett has a real knack of putting complex concepts and ideas into simple and easily understood terms. In my opinion, his quote, “Price is what you pay. Value is what you get” is one of the more profound and important statements he has ever uttered.

Five Reasons to Add Auto-Webinars to Your Marketing Mix

The big myth with webinars is that your audience cares whether it is live.

Plausible Performance: Have Smart Beta Return Claims Jumped the Shark?

To get the attention of smart beta investors in a crowded marketplace, some smart beta providers are laying claim to performance that appears implausible. So what is plausible? We look at historical live performance to answer this important question.