Posts Tagged: Capital Market Expectations

First Quarter 2021 Insight – Part 2

In Part 1 of our First Quarter 2021 Insight, we touched on the challenging outlook for global growth stocks. In Part 2, we discuss some of the factors contributing to such low expected returns. more >

First Quarter 2021 Insight- Part 1

Asset values, particularly growth stocks, have continued to multiply, and so have the dangers of investing. More than ever, value stocks compute to more durable, less risky returns over the long run. Read about the areas we believe offer attractive opportunities. more >

Fourth Quarter 2019 Insight

Investing can sometimes feel like driving through winter road conditions. Markets can present dangers equivalent to black ice — slippery and hard to detect. Read why hazardous economic conditions may induce a business-led downturn. more >

First Quarter 2018 Insight

Our Investment Strategy & Research team continues its comparison of investing to gambling, both of which combine chance with skill. Learn how to recognize when you have “limited outs” and minimize risk-taking in your portfolio before you “draw dead.” more >

Fourth Quarter 2017 Insight

It may seem like investing is akin to gambling. Although luck certainly plays a role when it comes to investing, we believe skill determines long-term performance. Learn how we interpret what the market “tells” us and what it might mean for investing. more >

Foundational Elements: Speculator or Investor?

Investors hold U.S. equities expecting periods of low returns. Speculators tend to operate under FOMO, the fear of missing out. Read how Sir Isaac Newton succumbed to FOMO. more >

Foundational Elements: Focus on Fair Value

We advise investors to focus on the fair value of an investment while avoiding market noise. In our new Foundational Elements series, the story of Warren Buffett's purchase of a farm is a good example. more >

Third Quarter 2017 Insight

The U.S. stock market continued to fly high in the third quarter. However, similar to 1999, the current market value of the S&P 500 appears to have far outpaced its fair value. As a result, we believe U.S. equities have become less attractive and are priced to generate low returns going forward. more >