Research & Commentary
Diversification Still Matters - U.S. stocks significantly outperformed all asset classes last year and their cumulative performance over the last five years has been equally impressive. As a result, an investor that prudently practices portfolio diversification by investing in a multi-asset class portfolio would have underperformed the U.S. stock benchmarks. While diversification can sometimes cause underperformance relative to specific asset classes, we still view asset class diversification as a critical portfolio management tool and discuss our reasons why in the following piece.
The Old World Is New Again - Europe's economic conditions are improving and the ECB recently raised its forecasts for growth over the next several years. This collectively confirms our prognosis that Europe is on a sustainable path to recovery, and already was before the European Central Bank launched European-style quantitative easing.
RiverFront Weekly View March 9th 2015 - Strong start by Europe and Japan as policy pendulum swings. Eurozone stocks are up 15% so far this year compared to 1% for the S&P 500.
Janney March 2015 Investment Perspectives: Is Deflation A Threat - Deflation conjures up scary images of an economy that is languishing in stagnation or worse. Recently, some pundits have floated the notion that deflation is a lurking threat for the U.S., and with it comes various nightmare scenarios for investors.
The Clark Group January 2015 Compass Review - Our Compass portfolios blend three strategies: 1. Globally diversified strategic portfolios focusing on value investing 2. Global tactical multi-asset portfolios focusing on relative strength investing 3. Alternative strategies.
Behavioral Finance For Everyday Investors - Following the investing crowd can lead to regret.
Returns Exposed - A global multi-asset review of 2014 results and perspective on the lost decade.
RiverFront Investment Group - Outlook 2015 Highlights: The policy pendulum swings. Rod Smyth (RiverFront's Chief Investment Strategist) discusses their outlook for 2015 while also taking a look back.
The Shiller P/E Enters Rarefied Air - The domestic stock market cannot deliver a sustainable double-digit return without entering a speculative bubble, based on historical data reflecting correlations between the level of the Shiller P/E and subsequent outcomes in the stock market over the past 134 years.
Fixed Income & Macro Outlook 2015: A Bad Case Of The What Ifs - Janney's Fixed Income Strategy Team provides it's thoughts on the 2015 economic outlook, interest rates, credit, and municipals.
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