The Ghost of Laurels Past
Equity valuations seem reasonable, but watch out for mean-revision of earnings growth.
US
Should ETFs be Part of Your Toolbox?
Utility of ETFs for institutional investors remains somewhat limited, but has increased.
A Cross-Section of U.S. Equity Valuations
Valuations remain compressed, making identification of relatively attractive opportunities hard to find.
Deconstructing the Bullish Case on U.S. Equities
In order to be bullish, investors must make some heroic assumptions.
The Unloved Mega-Caps
Valuations make the case for overweighting the very largest firms within a U.S. equity allocation.
Still Pounding the Table on Quality
In a world of overvalued financial assets, high-quality shares look to be one of the last bargains left.
Cutting Strategic Allocations to U.S. Equity
In all developed markets, but particularly the United States, investors’ bias in favor of domestic equities is irrational and sub-optimal. We recommend that investors` strategic equity allocations be equally divided among the Americas, Europe, and Asia.
Prospects for U.S. Equities Remain Bleak
Consensus earnings expectations seem too high considering the strong market headwinds and advanced nature of the earnings cycle, while valuations remain elevated.
What Really Happens When the Fed Stops Tightening?
A sobering look at historical trends.
Relative Valuations: Less Than Meets the Eye
Despite a near six-year run by small-cap and value stocks, the relative opportunity in large cap and growth is somewhat limited.