Moving Averages Update: November Up 10.75%
Valid until the market close on December 31, 2020.
The S&P 500 closed November with a monthly gain of 10.75% after a loss of 2.77% in October. At this point, after close on the last day of the month, four of five S&P 500 strategies are signaling "invested" — Vanguard Total Stock Market ETF (VTI), Vanguard FTSE All-World ex-US ETF (VEU), Vanguard REIT Index ETF (VNQ), and Invesco DB Commodity Index Tracking (DBC) — an increase from last month's triple"invested" signal.
World Markets Update: November 30, 2020
Four of eight indexes on our world watch list posted YTD gains through November 30, 2020. The top performer is our own S&P 500 with a gain of 12.1%. Tokyo's Nikkei 225 is in second with a gain of 11.74% and in third is China's Shanghai with a gain of 11.2%. Coming in last is London's FTSE 100 with a loss of 16.92%.
Has the Size Premium Disappeared?
Small-cap stocks have underperformed the broader markets since the “discovery” of the size premium in 1981. But research shows that a segment of those small-cap stocks have performed well and that now is a compelling time to invest in them.
The Investment I’m Most Grateful For
So far this year, shares of HIVE Blockchain Technologies have soared an incredible 715%, well past Ethereum’s gain of 273%. 2020 has been marked by healthy expansion in mining capacity, the most recent example being HIVE’s acquisition of additional access to low-cost green energy.
Buyout Titans Fire Up LBO Machine With $1.6 Trillion to Spend
The biggest private equity firms in the U.S. are unleashing a flurry of new leveraged buyouts and debt-funded dividends, seeking to make up for lost time after staying on the sidelines for much of 2020.
Income Fund Update: Navigating an Uneven Recovery
We are cautiously optimistic about economic growth over the next year, but over the longer term, disruptive factors will likely contribute to heightened volatility and lower returns across both fixed income and equity markets.