Insights matter.

Our research consultant, Asset Consulting Group, recently completed an analysis (click here to read) that addresses the growing concern that investors have become complacent. The “complacency index” (bear with us as we delve a little into the weeds here) is an index that is constructed by taking current valuations and dividing them by the market volatility. The higher the number, the higher the degree of “complacency” in the market. As the analysis shows, current levels seem to point to the

In a year filled with high drama and surprising turns, 2016 has been unexpectedly good in the markets. As this market monitor through November 18th reflects, returns this year have been better than anticipated. Global stocks have returned 5%, with US continuing to lead the way. In addition, Emerging Market stocks, despite pulling back following the US elections, have posted returns just below 9% for the year. Fixed Income has generally been additive to portfolios, with high yield on pace for its

The close of the second quarter was not without its dramatics. On June 23rd, the people of the United Kingdom voted to leave the European Union, a partnership to which they had been party (in one way or another) for over 40 years! The trading days that followed exemplified general uncertainty about the consequences of the vote, which we commented on in a brief note on June 24th. The markets reacted and then “un-reacted” to the news, and the net

Around the beginning of every New Year, we are treated to an array of prognostications by various market pundits, who would propose to tell us, as investors, where the markets are headed for the following 12 months. The S&P 500 index will end the year at X and the price of oil will be Y, they tell us. No doubt, significant thought and research go into these predictions. Sadly, however, despite being well-intentioned, hindsight usually proves that accuracy in such

We are writing to share our perspective on the current volatility in the market. Emotions can be our greatest adversary. We, therefore, as your advisors, seek refuge in facts to frame and provide perspective. To help make some sense of this unprecedented beginning of year correction, we believe it is helpful to look at this episode in context and, more importantly, to provide clarity on what we are thinking as it relates to your investment portfolios. The beginning of 2016