On the Minds of Investors

Have 3Q20 earnings been better than expected?

After a sharp decline in economic activity during the first half of the year, the U.S. economy bounced back strongly in the third quarter.

Confirmation Bias: How do we view U.S. over International Equities?

Over the last decade, there have been many trends in market leadership, such as large cap outperformance over small cap equities, growth over value equities, and U.S. over international equities.

How will the U.S. election impact international markets?

Since early September, all eyes have been on the upcoming U.S. election. Its twists and turns have not only been affecting domestic markets, but also international markets, especially via the U.S. dollar.

What do election polls tell us?

Over the last four years, the frequent refrain about election polling is the polls were so wrong in 2016. But just how far off were the polls?

What does the future of energy look like?

As we think about the trajectory of the energy industry going forward, it is evolving in more ways than one.

Does DCA provide better returns than a lump sum strategy?

Discover the benefits of lump sum investing during the current low-interest rate regime, and its consistent outperformance of dollar cost averaging.

When should I dollar cost average?

Dollar-cost averaging has been used by retirement plan participants to successfully build wealth by systematically investing a portion of each paycheck through their working lives

Substitution Bias: Is the disconnect between the economy and the stock market justified?

Over the past six months, markets have marched higher almost uninterrupted since the lows back in March, just as the economy was thrown into the deepest recession since the Great Depression. Many investors find this disconnect between the equity market and the economy perplexing and are constantly asking us: is it justified?

Which sectors perform best around an election?

As we approach Election Day, investors look to best position their portfolios for the next administration. However, looking at sector performance after each presidential election since 2000, there is little discernible pattern based on the election outcome. 

How should I position my portfolio if inflation comes back?

In recent months, the prospects of higher inflation has become front of mind for many investors. The enormity of the fiscal and monetary response to COVID-19 means that, for the first time in decades, the U.S. may experience a more robust inflation backdrop than has been observed in recent years; and with the Federal Reserve adopting an average inflation targeting framework for future policy decisions, this inflation may be tolerated for longer than would have otherwise been the case.