Market review Q221
After a devastating selloff last year and a remarkable rebound since, it's as important as ever to have a good mental model of what is driving the market.
Areté quarterly review Q121: Incorporating inflation
After a long period of disinflation and trending markets, emerging signs of inflation threaten to upend a lot of investment playbooks.
Market Review Q420: The Trouble With Bubbles
The trouble with bubbles is they prey on human weakness. They are also high impact investment events.
Market Review Q320: Should I Stay or Should I Go?
Passive investing continues to gain share at the expense of active. In doing so, however, it is also substantially increasing systemic risk.
Market Review Q220: Calibrating the Craziness
After an extremely eventful first half of the year, the key to managing through is understanding what has happened and why.
Market Review Q1 20: Changing of the Guard
The turbulence in the first quarter was more than just a nasty selloff. It represented a fundamental change in the market landscape that will favor perspective and preparation like never before.
Market Review Q419: Some Lessons from Traffic
With markets continuing their upward trajectory, it is easy to assume central banks are in control and things are going well. Some insights from how people interact with their environment in traffic reveal a very different perspective, however.
Market Review Q319: The Bursting Bubble of BS
Several rumblings in the quarter raised concerns about an imminent market crash. Another distinctive possibility is that the bubble of "airy promises" and overly optimistic growth expectations is bursting.
Market Review Q219: Dollars and Nonsense, Part 1
The story of the first half of 2019 was the Fed reversing its position on raising rates. The gig of short-term fixes is almost up though and now is the time for investors to consider the longer-term implications for monetary policy.
Market Review Q119: Opposites Don’t Attract
The increasing presence of opposite extremes makes the investment environment far more uncertain. It also means investors will have to work harder to meet their goals.
Q418 Market Review: A Brand New Day
The return of volatility in the fourth quarter should not be overlooked. The landscape has changed which will create opportunities for alert investors and downside risk for others.
Market review Q3 18: Give me an “L” (for liquidity)
Investors who view market opportunities exclusively through the lens of recent strong economic performance risk misreading a pivotal event. The tide of liquidity is turning and will bring asset prices down with it.
Market overview Q218: What does it mean to invest?
Market twists and turns can cause anxiety but it is several unsustainable trends that pose a greater risk. As a result, it makes sense for long term investors to seriously consider exactly what they are trying to accomplish and what they need to prepare for throughout their investment horizon.
Market Overview Q118: Mr. Market Gets Moody
The complexion of the market changed in the first quarter as volatility spiked. Now is the time for investors to be very clear about what they get in return for committing capital to risky investments.
Market overview Q4 17: Dreaming
Although there are many superficial reasons to be enthusiastic that strong market performance can continue, most positives are overstated and many risks are underappreciated. In fact, today's investment environment entails such a high degree of uncertainty that most investors would be best served by simply minimizing their worst case scenario.