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Monthly Market Update for January 2016

Tuesday, February 16, 2016

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Please find the next blog in our monthly series that provides timely market data as well as perspectives on the current state of the economy and the global financial markets. Global Economy: The economy showed a mixed bag of data in January as the nation’s industrial sector has been in steady decline, but strengthening housing and labor markets underscored the general health of the economy.  Cooling demand from overseas markets and a stronger US dollar led to persistent weakness in the manufacturing sector.  The Institute for Supply Management’s (ISM) factory barometer contracted in January for a fourth consecutive month driven…

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Special Market Update

Monday, January 25, 2016

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We write to you on the heels of one of the worst winter snow storms on record which impacted approximately one third of U.S. residents.  First and foremost, our thoughts go out to all those dealing with the aftermath of this deadly storm.  It feels like just last month given the unseasonably warm weather, many were questioning if we would experience winter this year.  This weekend was a reminder that winter does still exist. The stock market has also given investors a reminder to start the New Year…downturns still exist.  The S&P 500 has declined 8% year to date and…

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Update on Hedged Equity Strategies

Thursday, December 17, 2015

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The week ending December 11, 2015 witnessed the return of volatility on Wall Street with the S&P 500 ending its worst week since August with concern about declining commodity prices and the first U.S. interest rate hike in nearly a decade. In our last post, we reviewed thoughts on making money in a sideways moving market.  Specifically, we recommended seeking active management strategies in the portfolio. Two hedged equity strategies that our investment committee is using are ABS Investment Management and the Glenmede Secured Options fund.  Both managers are examples of active strategies that can add return while taking less…

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Making Money in a Sideways Market

Tuesday, December 1, 2015

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Consensus forecasts, including our own, are for financial markets to offer below historical level market returns over the mid-term (next 5-7 years).  This year has been an example of this theme with the S&P 500 up 3.4% and the Barclays Aggregate bond index up 0.68% through November 20th. With this in mind, three thoughts on making money in a “sideways market”: 1. Collect your dividends and interest – Dividends and interest are an essential part of returns for investors.  Currently, the S&P 500 dividend yield is 2%, the MSCI EAFE is 3% and the 10 year U.S. Treasury bond index is…

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Monthly Market Update for October 2015

Thursday, November 19, 2015

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Please find the next blog in our monthly series that provides timely market data as well as perspectives on the current state of the economy and the global financial markets. Global Economy: U.S. economic activity gained momentum driven by strong consumer and business demand even as weak global sales held back exports and manufacturing.  The economy expanded at a 1.5% annualized rate during the third quarter.  A resilient consumer was masked by a major reduction in corporate inventories.  Consumer spending grew an estimated 3.2% as consumers benefited from cheaper gas prices and income gains.  However, companies reduced inventories by an…

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