Category: Economy

103 posts categorized as "Economy"

Win by Losing Less

November 28, 2018

Content provided by Grant Engelbart, CFA, CAIA, Director of Research & Senior Portfolio Manager Risk Budgeting focuses on the management of volatility in client portfolios. This manifests itself in the most apparent form for clients during market corrections, where “risk” and “volatility” move from being vague statistical measures to “Wait, how much money did I…

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U.S. Economy: 3 Strengths and Weaknesses

November 7, 2018

Content Provided by Kostya Etus, CFA, Senior Portfolio Manager There are many drivers of the economy and the financial markets which are always present. It is important to evaluate them, determine which may be the most important, and help address investor concerns. Each month, the CLS Portfolio Management team discusses the various reasons markets could…

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Midterm Elections: Quick Facts on the Market Impact

November 1, 2018

Content provided by Shana Sissel, CAIA, Portfolio Manager The U.S. midterm elections are just around the corner, and investors remain concerned about how the results could impact the equity markets. The answer is simpler than many may think: The midterm elections have historically been positive for U.S. equities. It may sound odd not to consider…

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Our Worst Performing Household

October 25, 2018

Content provided by Grant Engelbart, CFA, CAIA, Director of Research & Senior Portfolio Manager I normally would never single out individual investor performance, but in this case I believe it’s necessary. Earlier this year, on the same day, two accounts in the same household were invested in two different CLS strategies with a 100 Risk…

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Millennials Ruin Everything

October 17, 2018

Content Provided by Michael Hadden – Investment Research Analyst Seriously. Just go online and look. In fact, this article cites 70 different things millennials have “killed,” an impressive feat for a generation spanning the ages of 22 to 37. So, if millennials are so great at destroying things we know and love, are they also…

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Behind the (Research) Curtain

June 29, 2018

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,…

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Tariffs: Market & Economy Implications

June 28, 2018

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…

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Reason #29 Not to Use Stock-to-Bond Ratios to Manage Risk

June 11, 2018

Content Provided by Case Eichenberger, CIMA, Client Portfolio Manager Income-Based Portfolios Which portfolio would you expect to be riskier? A or B? Or, put another way, which portfolio would you expect to be more volatile?   Tough call, isn’t it? They both look very similar in terms of stock-to-bond ratios. Let’s call it a wash…

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Currencies’ Impact on Portfolios (and My Honeymoon)

September 14, 2017

Content provided by Joshua Jenkins, CFA, Portfolio Manager Over the last year, currencies have been on the forefront of my mind, which is unusual. I’m not saying they are not important. In the short term, they definitely impact returns. Portfolio Manager Case Eichenberger recently wrote about that here. Over the long term, however, the impact…

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Oh, That Crazy Debt Ceiling

September 8, 2017

Content provided by Marc Pfeffer, Senior Portfolio Manager I know many investors don’t follow the short-term Treasury market on a day-to-day basis. But, as someone who has followed the fixed income market for my entire career, which includes running money market funds, I know these securities are key components. During the summer months, the debt…

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