Content provided by Grant Engelbart, CFA, CAIA, Senior Portfolio Manager & Co-Director of Research Warren Buffett turned 88 years old on Thursday, August 30. Quite possibly the most famous value investor of all time, Buffett took control of Berkshire Hathaway in 1965 (“that is, when current management took over”). Since then, the company has transformed… Continue reading Happy Birthday, Warren
CLS Blog
ESG Investing: Look for Progress, Not Perfection
Content Provided by Rusty Vanneman, CFA, CMT – Chief Investment Officer Recently, I took up paddle board racing. It has appeal in a variety of ways: the discipline that goes along with training for an event on the calendar, the competitive aspect of the budding sport, plus it’s a lot of fun! Paddle boarding is… Continue reading ESG Investing: Look for Progress, Not Perfection
Risk Budgeting Basics: Can U.S. Treasuries be Riskier Than Emerging Market Stocks?
Content Provided by Case Eichenberger, CIMA – Client Portfolio Manager Risk can be defined in multiple ways: beta to the stock market, standard deviation of returns, relative standard deviation to the stock market, probability of catastrophic loss, probability of not realizing goals, or probability of not sticking with investments, among others. None are correct or… Continue reading Risk Budgeting Basics: Can U.S. Treasuries be Riskier Than Emerging Market Stocks?
Duality and the Story of a Gorilla
Content provided by Robyn Murray, Freelance Writer Nick Arreola is used to navigating different worlds. He is biracial (white American and Mexican) and a degree-laden academic psychologist who has spent half his career teaching himself how to write code. Now, in a new position at CLS– one that involves a bet on behavioral and science-driven… Continue reading Duality and the Story of a Gorilla
Sir John Templeton: The Humble Approach
Content Provided by Rusty Vanneman, CFA, CMT – Chief Investment Officer One of the most important days in my development as an investment manager occurred in the spring of 1987. It was during my undergraduate days at Babson College. It was Founder’s Day, which is Babson’s oldest tradition, a day established to recognize the school’s… Continue reading Sir John Templeton: The Humble Approach
The Rock Stars at CLS Investments
Content Provided by Rusty Vanneman, CFA, CMT – Chief Investment Officer When I was at Fidelity Investments (FMR Co) back in the 1990s, legendary investor Peter Lynch had moved on, but the culture he helped create, one fully dedicated to active management and high performance, was still in place. Fidelity hired the best and brightest… Continue reading The Rock Stars at CLS Investments
Behind the (Research) Curtain
Content provided by Grant Engelbart, CFA, CAIA, Portfolio Manager There are five areas of analysis we utilize to review investment ideas (see our Risk Budgeting White Paper pages 9-10). To help our readers understand these analyses and our investment processes, let’s take a look at a real life example applicable to many, if not all,… Continue reading Behind the (Research) Curtain
Tariffs: Market & Economy Implications
Content Provided by Kostya Etus, CFA, Portfolio Manager What has Happened? President Trump has officially imposed a 25% tariff on steel imports, and 10% on aluminum, from everywhere in the world (pending some exemptions). Reasoning for these tariffs is a belief that other countries’ current trade practices are a threat to national security, as well… Continue reading Tariffs: Market & Economy Implications
Writing Tips for Investment Professionals
Content Provided by Rusty Vanneman, CFA, CMT – Chief Investment Officer When I began my career in the investment industry nearly 30 years ago, I never would have guessed I would write as much as I have. I have written everything from market reviews every 20 minutes (!) to weekly, monthly, and quarterly commentary, and… Continue reading Writing Tips for Investment Professionals
Expected Stock Market Returns = World Cup Champion?
Content Provided by Michael Hadden – Junior Research Analyst The world’s attention will stay tuned to Russia over the next month as the 2018 World Cup has officially begun. The 2014 World Cup final alone drew more than a billion viewers, with the entire competition reaching an in-home audience of 3.2 billion people. There’s no… Continue reading Expected Stock Market Returns = World Cup Champion?