Published September 22, 2017
While many in the industry speculate on the coming end to a years-long bull market, there are others who argue that the bull market has just begun. How does this disagreement come about? (more…)
Uncategorized
U.S. Economic Indicators Show Strength
Published September 15, 2017
Below is a really good overview of economic activity in the U.S. looking at some lower level data.
When times are good, people go to Vegas. Since the recession in 2008, Las Vegas convention attendance has climbed to new highs. At the current pace, convention attendance and overall Vegas visitation will set new records in 2017. (more…)
Non-stop Goodness
Published September 8, 2017
The article below, excerpted from Charles Schwab, displays just how strong global equities have been this year.
Chart 1 below is a table of global stock market returns by month using the MSCI All-Cap World Index (ACWI). August came close to breaking the uninterrupted streak of monthly gains for global stocks. This year has seen the only time the index ever (since its inception 30 years ago) posted a gain in every one of the first eight months of the year, as you can see in the heat map of monthly returns below. (more…)
All’s Well in the World
Published September 1, 2017
We have written a few times this summer about the global force behind the stock market’s unceasing rally so far in 2017. August proved once again how resilient this rally is, with stocks dropping back a bit only to be relaunched to new highs by the end of the month. (more…)
No Record Highs Here
Published August 25, 2017
Below from Delta is a good overview of the gap between different stock indexes and how large that gap has been this year. In reading this remember that small-cap value stocks are the best performing group over the history of the stock market. That this group is so substantially under-performing might mean something. (more…)
Market on the Edge?
Published August 18, 2017
Stocks took a potentially nasty turn this week. Whether that turn leads into a sharper decline will be the question facing investors in the month of September – historically known for providing its share of upset. (more…)
September 23, 2016 Update
Snapshots
We found Blaine Rollins’ blog, always a great read, to have a particularly eclectic and interesting panoply of items this week. Here is the string of items we found of interest: (more…)
September 16, 2016 Update
The simple math of stock returns
We have noted in many articles of the past that asset prices come from fundamentals (e.g. earnings/dividends) x investor emotion. Below is a reprint of an article from Ben Carlson’s “A Wealth of Common Sense” blog discussing the same notion but from a much higher power than ourselves – namely Vanguard founder John Bogle!
Take it away Mr. Carlson and Mr. Bogle:
Vanguard’s John Bogle has a simple formula for estimating future stock market returns: (more…)