Although it seems counterintuitive, evidence suggests that there is a negative correlation between economic growth (GDP) in emerging markets and stock market performance, says a recent Morningstar article. Alex Bryan,…
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Markets Moving in Tandem is Unusual
Major markets are moving together more than usual which, given this period of high valuations, is raising concerns that even a slight pullback could cause significant, negative repercussions, according to…
Rekenthaler Report: It's Hard to Be Like Buffett
While every fund manager yearns for Buffett results, “most don’t mimic his investment approach” writes Morningstar’s John Rekenthaler in his September report. Concentrated, low-turnover portfolios are “not for everybody,” he…
Adding Momentum to Your Portfolio
The tendency of recent market performance to persist, an effect known as momentum, has been pervasive even though it is a “blatant violation” of what you would expect in an…
Trade Protectionism May Stunt Market
While for the past three decades U.S. equity prices have been supported by an acceleration of global trade, a recent article in The Wall Street Journal says there is concern…
Marks: Be Selective in a Heated Market
Last month, Bloomberg’s Erick Schatzker sat down with Howard Marks, co-chairman of Oaktree Capital, to discuss the fund manager’s investment approach. With respect to whether the now-stretched equity valuations…
Is Shiller's CAPE as Scary as it Seems?
In the 1990’s, economists Robert Shiller and John Campbell created a valuation metric called the “cyclically adjusted price-earnings” ratio, or CAPE. A Wall Street Journal article from earlier this month…
Active Investing Showing Signs of Life
Active managers have been struggling and stock hedge funds have seen a nearly eight-year performance slump, but a shift could be in the offing according to an article in last…
Market Shifting Toward Intrinsic Value
“The playbook changed this year,” says Tom Lee, head of research at Fundstrat Global Investors, in an interview with Bloomberg earlier this month. He said the market is shifting toward…
Greenblatt Weighs in on Active Management
“Most people have a tough time sticking with active managers who underperform for a period of time. But of course, if you’re going to beat the market, you have to…