Nothing gratifies investment managers or their investors like a climbing stock market. And the stock market did just that in…
As we flip the calendar to 2017, we are looking at new opportunities and challenges. Regardless of one’s political views,…
The current stock market bull has lasted longer than normal, yet it continues to rise. After stock market advances, it’s…
The recent vote by the U.K. to leave the E.U. (Brexit) stoked market fears. Stock markets fell and news headlines…
Stock downturns are common. Every decade over the past 100 years has produced at least one loss of nearly 20%…
Since 1915 the stock market has gained 10% per year (1). However, those returns aren’t provided to investors equally every…
Over the past 18 months the global stock market has moved lower by 1.4%(i). It gained in 2014, only to…
I often fantasize about going back in time so I can replay an event more to my advantage. Like curating…
Just as investors were unable to perceive how a housing market crash would affect their investment portfolios, we believe similar,…
Want to grasp the counter-intuitive nature of investing? Try driving whilst looking to the rear (see lengthy liability disclosure below).…
Stocks and bonds were a mixed bag in the third quarter. The S&P 500 increased 1.1%(i) for the quarter while…
Toews began the quarter with a partial (1/3) allocation to US Stocks, with all other asset classes fully invested. We…
Investing platitudes (allocate, rebalance, repeat) about stocks betray the high risks and limited time horizons for the bulk of investors.…
Investors remained anxious entering 2013, and there was no shortage of stress-evoking events. Despite that, the S&P 500 realized the…
Originally posted on October 30th, 2013It’s not a small matter. Strong return years make outsized contributions to the overall above-inflation…
Investors continue to view fixed income as the default “risk-off” slice of investors’ portfolios, even as they are faced with…
“Sometimes, what matters is not so much how low the odds are that circumstances would turn negative, what matters more…
Toews portfolios began the quarter fully invested. Only a few days into the quarter, however, markets turned lower and continued…
In our last commentary we discussed two divergent opinions on the economy. The optimistic view was represented in a recent…
The Toews System during Market Rallies After a turbulent year in 2011, the markets moved steadily higher to finish the…
Over the past year, there were several shocks to the economy, including an earthquake and tsunami in Japan, a downgrade…
In a scene from the movie Margin Call, a banker looks out of his car window and says “look at…
Sovereign debt issues have taken center stage to press stock prices down with increased ferocity. The S&P 500 declined 14%…
After making sizable moves higher and lower, the markets finished the quarter flat, with the S&P 500 gaining just 0.1%.…
In our April 2009 commentary letter, only weeks after the markets hit the bottom of one of the worst declines…
Despite an overtly timid mindset among investors, the bulls are the victors for 2010. The market advance in December capped…
At the end of the 2nd quarter, stocks were in a severe correction, having dropped over 15% in just over…
Shortly after the market hit bottom in April of 2009, we wrote that after major declines, gains were historically “decisive…
During the most recent quarter, the S&P continued its impressive rise and advanced 6.02%. Throughout the quarter, our proprietary models…
Investing in emerging markets has the potential to generate high returns and also bring potential diversification benefits. Our case for…
In our last commentary, we looked at the powerful nature of rebounds following large stock market drops. Our conclusion was…
Last November when the market declined sharply, a number of managers declared that the stock market had hit the bottom.…
Since the beginning of 2008 (the past 21 months) the S&P 500 has lost 25%. Yet, despite having lived through…
In our third quarter commentary when we noted that the markets were down 20% year to date, little did we…
