What History Suggests About the Future of Stocks
Some experts today argue that the world has entered a “New Normal” condition in which stocks have permanently lost their return edge. We’ve heard this before. It was wrong then, and we think it’s wrong...
View ArticleAre Stocks Too Expensive Now?
Not in our view. Although we recognize that the US and global economies continue to be scarred by the credit crunch that began in 2008, we think stock prices already discount the risks. Investors today...
View ArticleThe Fundamental Case for the 20,000 Dow
While some people deem stocks expensive relative to 10-year trailing earnings, we take a forward-looking approach. It starts with the premise that the stock market is not a casino and stock prices are...
View ArticleActive Management: Don’t Drop the Pilot
For years, we’ve advised clients to hold diversified portfolios with balanced allocations to stocks, bonds and other assets. Lately, it’s been a hard sell, especially after years of underperformance by...
View ArticleBuy and Hold Is Dead…Long Live Buy and Hold
It seems that rumors of the death of long-term equity investing have been greatly exaggerated. That the rumors exist is hardly surprising. There are still significant risks facing the market, the 2000s...
View ArticleEquities Set to Break Out of the Bear Trap
In the face of significant uncertainties, US and global equities rallied in 2012 and at the start of the New Year. We think there might be more to come as stocks break out of the bear trap. Both the...
View ArticleHow Much Risk Does Adding Stocks Pose?
Investors have good reasons for their recent net increase in stock fund purchases—and good reasons to remain anxious, in our view. While market volatility has returned to normal, memories of the wild...
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