Commentary

  • US Joins Global Equities in Downturn

    In Market Analysis on

    Throughout much of the third quarter global equities declined in unison with one exception: U.S Stocks. For the week of October 10, US equities joined in to show losses across virtually every sector. Through October 15, European stocks were down down 4.9% for the year. Japan had lost .6%, with China and the broader emerging markets index down 20% and

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  • Advisors Capitulate in the Face of Rising Markets

    In Market Analysis on

    In 1999, after one of the biggest bull markets of the century, advisors seemingly abandoned caution. Despite their stratospheric valuations, assets flowed into growth and technology stocks and out of risk-managed and value funds. Investors who earned only 20% likely complained wildly to their advisors that they had only captured a fraction of the Nasdaq Composite return which gained over

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  • Reverse-Think your Portfolio to Target Success in 2018

    In Market Analysis on

    In April of 2009, days from the bottom of the 2nd worst stock decline in the past 100 years, we wrote in this commentary that it was “a good time to invest in stocks due to their bargain prices.” The commentary went on to argue the case that stocks were poised to rally strongly ahead. I got a call from

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  • Are You Vulnerable to Market Biases?

    In Market Analysis on

    Ask yourself this question: How do I feel about the stock market (or high yield bond market)? Do I feel 1) optimistic and comfortable, 2) anxious and guarded, or 3) pessimistic and fearful? The response that most give to this question varies based on what is happening or has just happened in the economy and the financial markets. Optimism and

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  • New Element of Risk Management Added across Many Toews Equity Portfolios

    In Market Analysis on

    Markets Gain Further in Q2 After a 6% rise in the first quarter, the S&P 500 Index gained 3% in the second quarter, putting the markets on course to deliver double digit gains in 2017. Other indices also gained, with the Russell 2000 Small Cap Index gaining 2.5% and the International MSCI EAFE Index moving ahead 6.2% 2. When markets

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