If you review the investment research articles and notes published during the 1970s and early 1980s, what you pick up is that during periods of high inflation, equity markets failed to live up to expectations.

The business development companies (BDCs) sector could follow a growth path similar to REITs.

Here is the latest update of a popular market valuation method using the most recent Standard & Poor's "as reported" earnings and earnings estimates and the index monthly average of daily closes for the past month.

As of July 30, the 10-year note was 72 basis points above its historic closing low of 0.52%, reached on August 4, 2020

The torrid rebound in the Consumer Discretionary sector calls for a selective response.

If there is one experience common to us all during the global pandemic, it is that the spread of COVID-19 around the world caused everyone—young or old, rich or poor, male or female—to reassess our priorities.

Within the space of just half a year, US President Joe Biden has completed a necessary economic-policy regime shift that started chaotically under his predecessor.

Rick Bookstaber, has held chief risk officer roles at Morgan Stanley, Salomon, Bridgewater, and the University of California Regents Pension Fund and served at the U.S. Treasury in the aftermath of the 2008 crisis. He is the author of The End of Theory (Princeton, 2017) and A Demon of Our Own Design. He is founder and head of risk at Fabric RQ.

Portfolio manager, Daniela Mardarovici, will discuss the current state of the fixed income markets, central bank policy, and financial market conditions driven by the recent pandemic. This discussion will include how to navigate the current rate environment with agility and conviction, how to utilize market fundamentals in tandem with market behavior, and how to dissect the recent shifts in Fed policy.

Note: This update includes July close data.

Rick Bookstaber warns that investors face the risk of a “leverage liquidity cascade,” where margin calls would trigger forced selling across asset classes.

Community is the most important resource in your toolbox, especially for female financial advisors.

China’s stock market pullback this year has been in line with the average annual drawdown; historically, this volatility has tended to produce double-digit annualized gains.

A private drugmaker aborted plans to buy back its own SPAC at a hefty premium, sending shares of Immunovant Inc. plunging to an all-time low.

For many, paying off debt and putting money away for retirement are the first financial goals to work toward.

Although the recent crash or meltdown of prominent China stocks was for the most part political in nature, valuation also played a role.

As of August 2, the price of Regular and Premium was up two and three cents, respectively, from the previous week. According to GasBuddy.com, California has the highest average price for Regular at $4.37 and Mississippi has the cheapest at $2.77. The WTIC end-of-day spot price closed at 71.26, down 0.9% from last week and up 50% from the beginning of the year.

With global growth rebounding amid uncertainties over inflation and COVID-19 variants, investors may want to consider a somewhat more cautious and flexible approach when seeking a consistent yield.

Most lump-sum inheritances disappear within a few years in the control of an over-spender.

Six out of eight indexes on our world watch list posted gains through August 2, 2021. The top performer is France's CAC 40 with a gain of 20.26%, our own S&P 500 is in second is with a gain of 16.80%, and India's BSE SENSEX is in third with a gain of 10.89%. Coming in last is Hong Kong's Hang Seng with a loss of 3.66%.

Was the March 2009 low the end of a secular bear market and the beginning of a secular bull?

The stock market and economy are hanging by a thread over an economic abyss. That thread is zero interest rate policy (ZIRP).

Last week, the government reported real GDP in the US grew at a 6.5% annual rate in the second quarter and was up 6.4% at an annual rate in the first half of 2021.

Quick take: Based on the July S&P 500 average of daily closes, the Crestmont P/E is 188% above its arithmetic mean and at the 100th percentile of this fourteen-plus-decade monthly metric.

In this past weekend’s newsletter, I discussed the issue of the markets next “Minsky Moment.”

The automotive market is running lean.

ESG proponents claim that “green” high-yield bond returns offer better risk-adjusted returns. New research disproves this claim, although ESG investors do not incur a penalty by owning green bonds.

For advisors looking to add diversification and growth potential to client portfolios, life settlements are a compelling asset class.

Financial advisors and investors demand novelty as the cost of attention. Given near-term outlooks on stock market volatility, a genuinely original analogy is Moon : tides : : VIX : volatility.

Last week witnessed a bold adventure in in-person conferencing… and lessons in how to manage clients (and their portfolios) in an unprecedented market environment. But the memorable moment at the ENGAGE conference was David Kelly’s statement that bitcoin is a cult and not a currency.

This morning the Institute for Supply Management published its monthly Manufacturing Report for July. The latest headline Purchasing Managers Index (PMI) was 59.5, a decrease of 1.1 from 60.6 the previous month and in expansion territory. Today's headline number was below the Investing.com forecast of 60.9 percent.

The July US Manufacturing Purchasing Managers' Index conducted by Markit came in at 63.4, up from the final June figure and a record high. Markit's Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.

Chief Economist Scott Brown discusses current economic conditions.

Inflation has been on the rise recently, raising concerns about long-run inflation and its impact on the spending power of those who can least afford it—investors approaching or already in retirement.

The United States is just at the beginning of a housing boom that could last for the next five years.

Here are 12 types of clients who have recently established DAF accounts with the assistance and encouragement of their financial, legal, tax advisors.

In March and April, our Asset Allocation Committee modestly decreased the allocation to equities, given elevated stock valuations and a moderating economic outlook. In our view, key performance drivers may peak in the near term, which could temper potential equity returns going forward.

Breaking away from your wirehouse is a life-changing decision. If you know it’s the best move for you and your clients, you’ve taken the first big step. We can help you with what comes next. Download our guide to learn about picking an affiliation model, choosing the right firm to partner with, and starting a new business.

When I started looking into CFP® certification, a surprising number of colleagues said something to the effect, “Oh well you passed the CFA exams, so that will be easy for you.” And foolishly, I believed them.

Frank Pape is the senior director, portfolio consulting for Russell Investments’ advisor and intermediary solutions business. In this interview, he discusses the latest research on how advisors can maximize the after-tax income for their clients.

You may not be familiar with the term metaverse, but if you’ve been a consumer of popular books, movies and video games over the past 30 years or so, you probably are aware of the concept.

I am worried the Fed will either let inflation become psychologically entrenched, or wait too long to stop it and spark crisis with a too-hasty response, but there are other possibilities. None are especially good.

The yield curve is a powerful indicator. More powerful than many others as May West reminds us. As the greatest reopening momentum now appears behind us, today, our All-Weather portfolio looks more all-weather than it did earlier in the year.

Valid until the market close on August 31, 2021.

The S&P 500 closed July with a monthly gain of 2.27% after a gain of 2.22% in June. At this point, after close on the last day of the month, all five S&P 500 strategies are signaling "invested" — Vanguard Total Stock Market ETF (VTI), Vanguard FTSE All-World ex-US ETF (VEU), iShares Barclays 7-10 Treasury (IEF), Vanguard REIT Index ETF (VNQ), and Invesco DB Commodity Index Tracking (DBC) — up from last month's quadruple "invested" signal.

Howard Marks doesn’t make bets on economic predictions. That’s especially true now when the biggest wildcard is inflation – a phenomenon no one fully understands. But just because something is unknowable doesn’t mean it’s unimportant. That’s why Howard has devoted his latest memo to a topic he largely disavows: macro forecasting.

As expected, in a unanimous vote, the Federal Open Market Committee (FOMC) of the Federal Reserve (Fed) kept the fed funds rate unchanged in its range of 0-0.25%.

Equities continued to rally in the second quarter, but the market remains undecided about whether the recent uptick in inflation is more likely to be transitory or persistent.

The July Final came in at 81.2, down 4.3 (5.0%) from the June Final. Investing.com had forecast 80.8. Since its beginning in 1978, consumer sentiment is 5.7 percent below the average reading (arithmetic mean) and 4.7 percent below the geometric mean.

This morning's release of the publicly available data from ECRI puts the WLI at 153.9, down 0.8 from the previous week's revised figure. The WLIg is at 11.1, also down from last week and the WLI YoY is at 16.54%, down from last week.