Tactical CA House Views (Download Full PDF)
Our house views are aimed at generating value add over a three-year horizon. Differences in risk tolerance, time horizon, liquidity needs, currency exposure, and tax implications, as well as the potential for overlap with existing portfolio exposures, mean these views may not be suitable for all portfolios. Tactical positions should be sized modestly.
| OVERWEIGHT | UNDERWEIGHT | RECOMMENDED SINCE | OUR VIEW |
|---|---|---|---|
| California Carbon Allowances | Global Equities | 10/31/2021 | Download PDF |
| Developed Markets ex US Small-Cap Equities | Developed Markets ex US Equities | 09/30/2023 | Download PDF |
| US Small-Cap Equities | US Equities | 04/30/2022 | Download PDF |
| Global ex US Equities | US Equities | 05/31/2025 | Download PDF |
| Unhedged World ex US Treasuries | US Treasuries | 05/31/2025 | Download PDF |
| Latin American Equities | Emerging Markets Equities | 06/30/2025 | Download PDF |
Asset Class Facts & Figures (Download Full PDF)
Our Facts & Figures slides review notable data—from current valuations to earnings growth and performance—across more than 50 asset classes and industries. Updated on quarterly basis.
| ASSET CLASSES | DATA THROUGH | |
|---|---|---|
| Equities* | 6/30/2025 | Download PDF |
| Fixed Income | 6/30/2025 | Download PDF |
| Real Assets | 6/30/2025 | Download PDF |
| Private Equity/Venture Capital | 6/30/2025 | Download PDF |
| Currencies | 6/30/2025 | Download PDF |
* Read more about the cyclically adjusted price-to–cash earnings ratio used in our equity valuation work.