Focusing on Quality in a Mid-Cycle Market
U.S. equity markets continue to set new highs, powered by an increasingly narrow group of stocks. Setting aside the cognitive dissonance-inducing earnings impacts from the pandemic and subsequent recovery, stocks continue to look expensive vs. their long-term earnings power. With leading economic indicators such as the 10-year Treasury yield, the ISM-Manufacturing PMI index, and upwards earnings estimates revisions all peaking in April, advisors are asking:
Are we seeing a rotation from growth-oriented cyclical stocks to higher-quality defensive names? If so, how can we find value opportunities for our clients among expensive U.S. equities?
Eric Lynch, Managing Director of Scharf Investments, will share his thoughts on today’s markets and discuss why quality matters and where compelling valuation opportunities exist both in the U.S. and abroad.
Stocks and Bonds Too Risky? Explore the Third Alternative: ASYMmetric Returns
With the equity market trading near record highs and bond yields near historic lows, explore how we think a third alternative – ASYMmetric returns – may be able to help de-risk your portfolios.
Beyond China—Asian Investment Opportunities in India & Japan
China steals a lot of the limelight in Asia, but there are two other major economies in the region: India and Japan. This interactive webinar will going to take a look at the investment opportunities for these two, very different, but influential Asian markets with portfolio managers James Thom of The India Fund, Inc. (Ticker: IFN) and Kwok Chern-Yeh of The Aberdeen Japan Equity Fund (Ticker: JEQ). Join us and learn more about how exposure to India and Japan can help enhance a diversified investment portfolio.
Q3 2021 Market Perspectives: "A Global Shift"
After beginning the quarter on a relatively upbeat note, familiar themes returned as fears of inflation, ambiguity over the end of the pandemic, and uncertainty about the future of Chinese capitalism raised concerns for investors.
Fed To Taper, Inflation Rising, Retail Shortages Coming
We touch on several bases today as we often do. We begin with the Fed which decided to start reducing its monthly purchases of Treasury bonds and mortgage-backed securities in November. This was not a surprise.
Impending Super Cycle Commodity Signal Argues Against Transitory Inflation
We are in uncharted waters on many fronts, so no one can really answer that inflation/deflation question with any degree of certainty. We can however, look to the technical condition of commodity markets for guidance, since they have usually, acted as a barometer for more generalized swings in inflationary and deflationary pressures. Commodity prices look poised to signal a new secular bull market, which would likely broaden out to result in the highest more generalized inflation rates since the 1970’s.
We have entered the phase when the body politic and public opinion are aware that Facebook is disturbing our society. This is very important to us as investors, because the big tech companies make up a disproportionately large part of the S&P 500 Index.
The 60/40 Portfolio Isn't Dead, Just More Expensive: Allison Schrager
Volatile, pandemic-riven markets for stocks and bonds has Wall Street ready — again — to declare the traditional 60/40 portfolio split a dead strategy. The prospect of a low-growth, high-inflation economy (stagflation) dims the prospects of both investment categories, and certainly demands a rethink of where to stash your savings.
Fed Policy is Driving Homelessness
In a society with a weak social safety net, homelessness is the inevitable result of exuberant real estate prices. Those living on the street are the indirect victims of loose monetary policy and low interest rates that foster high property and rental prices.
World Markets Update: October 18, 2021
Seven out of eight indexes on our world watch list posted gains through October 18, 2021. The top performer is India's BSE SENSEX with a gain of 29.35%, France's CAC 40 is in second is with a gain of 20.21%, and our own S&P 500 is in third with a gain of 19.45%. Coming in last is Hong Kong's Hang Seng with a loss of 6.69%.