Equities
Portfolio Allocation Trends – Q3 2023
A review of nearly 300 advisor portfolios shows that taking equity risk and staying short on fixed income duration drove top year-to-date portfolio returns.
Cruel September
Portfolio Manager Jack Janasiewicz examines seasonality patterns and the rise in bond yields, oil, and the dollar that weighed on risk assets in September.
Bullwhips and the Extrapolation Effect
Portfolio Manager Jack Janasiewicz explains why extrapolating current market trends into the future based on the bullwhip effect may be misguided.
Macro Insights: About That Recession…
Portfolio strategists analyze macro storylines in the third quarter including growth, inflation, the strength of the US consumer, and the outlook for rates.
Portfolio Construction: Growth & Cyclical Stocks
Portfolio consultants explain how they align equity investments with their current economic outlook using a growth/cyclical barbell strategy.
Recession Outlook: Going, Going, Gone
Portfolio Manager Jack Janasiewicz discusses the shifting recession narrative, labor and inflation trends, and the Fed’s pathway to a soft landing.
Moderate Model Portfolio Trends Analysis – Midyear 2023
The best performing investment portfolios in the first half of 2023 had the highest exposure to growth stocks and longer-duration bonds.
Five Institutional Investment Trends – Midyear 2023
Recovering institutional investor returns, soaring AI company valuations, and reshuffling real estate sectors due to WFH impact are observed at midyear.
Market Catalysts: Made in the USA
Portfolio Manager Jack Janasiewicz discusses potential market tailwinds, FOMO, a US capital spending boom, and prospects for a strong second half.
Midyear Outlook: Eve of Disruption?
Portfolio strategists offer their take on investor misperceptions, inflation and the Fed’s pause, market tailwinds, and tactical allocation opportunities.
Bear Market Still in Hibernation
Portfolio Manager Jack Janasiewicz offers his take on inflation, the Fed, labor trends, liquidity fears and narrow market breadth.
Shifting Winds – and Fed Pause, Not Pivot
Portfolio Manager Jack Janasiewicz provides his take on the Fed’s May meeting, corporate earnings season, and some underappreciated economic tailwinds.
Higher for How Much Longer?
Portfolio strategists offer their take on the changing macro narrative in the first quarter, the banking crisis, and prospects for a soft or hard landing.
Listen to Our Experts Explain the Framework
Analysis that combines inflation and growth cycle trends may provide a more nuanced way to understand stock market drivers.
5 Trends in Model Investment Portfolios – Year-End 2022
See which trends influenced financial advisors’ asset allocation decisions in their moderate model portfolios in the second half of 2022.
Observations on Five Institutional Investing Trends
Foundations and public pensions lost ground in a challenging investment environment. As we enter 2023, indicators suggest elevated return potential.
Financial Portfolios Adapt to Inflation, Rough Markets
Learn how advisors have adjusted their financial portfolio allocations in response to higher inflation and difficult market conditions.
Factor Momentum Investing – Adding Value with Style
This research paper examines the use of a simple factor rotation model to illustrate the potential advantage of low correlation between factor returns.
When Comparing P/E Ratios, Index Composition Matters
Using index P/E ratios for historical comparisons may be inaccurate because index composition can change significantly over time.
Is the Market Looking Past Lowered Earnings Estimates?
While they aren’t yet reflected in the broad Index, S&P 500® earnings expectations have been revised much lower since mid-year.
From the Consultants’ Desk: Investment Portfolio Construction Trends at Midyear
US equity exceptionalism sentiment, value, shorter durations, and unicorns are among the asset allocation trends explored.
5 Midyear Trends in Model Investment Portfolios – Summer 2022
As correlations and inflation spiked in the first half of 2022, the best performing investment portfolios held inflation-protection assets, alternatives – and cash.
Institutional Investing Trends Observed at Midyear 2022
Amid the failed diversification of disappointing returns from both stocks and bonds, there are some bright spots in institutional investing trends.
Inflation Protection: An Equity-Centric View
Historical analysis highlights which equity sectors and strategies fare best when inflation heats up.
Equity Diversification for the Next Selloff
With their yields near all-time lows, Treasuries may no longer provide reliable diversification for equities in the next crisis. What else might work?
5 Investment Trends in US Advisor Portfolios – Spring 2021
Recent trends show increasing growth style bias, higher emerging market allocations and focus on quality fixed income holdings in moderate portfolios.
Five Institutional Investment Trends to Watch
Recent trends include cash deployment, sustainable investment screening, and muni debt issuance by colleges and universities.