From 1928 to 2014, dividend-paying stocks outperformed non-dividend-paying stocks by nearly 2%, but that edge has slipped since 2008. John Buckingham, CIO of Al Frank Asset Management, notes that…
MarketWatch's Hulbert: Now Could Be the Time for Small-Caps
Mark Hulbert writes in MarketWatch that “all of [the small-cap] sector’s much-vaulted historical relative strength has come at the end of December and early January,” as reflected in the monthly…
Re-defining Value
The value premium may seem to have disappeared. Since 1926, cheaper stocks have outperformed expensive ones by 400% according to data from Normura (see graph below). Since February 2007, however,…
Fidelity Magellan Manager is Betting on the Financial Sector and Starting to Examine the Beaten Up Energy Patch
Jeff Fiengold of Fidelity Magellan told Moringstar that his fund is overweight financials because he believes “the sector is cheap, and there is a prospect for improving fundamentals.” Overall, though,…
Ramsey Predicts 20-25% Bear Market
Doug Ramsey, CIO of Leuthold Weeden Capital Management, predicts a bear market. Although he expressed similar concerns in August, his past calls have been remarkably accurate and not consistently bearish.…
Study: Smaller Hedge Funds Beat Largest Funds by Wide Margin
Nick Motson and a colleague from City University London recently concluded that small hedge funds outperformed large hedge funds on average over the 20-year period 1995-2014. The smallest hedge…
Profitably Switching In and Out of Small-Cap Stocks
Joe Mezrich, strategist with Normura securities, and colleague Adam Gould have shown that three factors correspond with small-cap performance: low price-to-sales cost relative to large stocks; economic uncertainty (reflected…
2 Percent Growth is the New 4 Percent According to Epoch’s Priest
William Priest, CEO and co-CIO of Epoch Investment Partners, says “2% [growth] is the new 4% as far as developed markets are concerned.” He continues: “Global GDP is a…
Fisher: Parallels with the 1990s
Long-time Forbes contributor and Fisher Investments CEO Ken Fisher opines that “the most stunning unnoted market phenomena right now are parallels between the past eight years and the period…
Bridgewater's Dalio: 2015 May Be Like 1937 for the Market
A recent Wall Street Journal piece notes that hedge-fund manager Ray Dalio and others have discussed potentially significant parallels between 1937 and 2015. Dalio, in a March letter earlier…