Our Perspective: On Yesterday’s Market Sell-Off and Coronavirus

Yesterday, global stock markets fell sharply. The Dow, for instance, was down 3.56%, and the S&P 500 Index dropped 3.35%.  We would like to briefly address the reasons and share some of our immediate thoughts about portfolio positioning. The most frequently cited culprit for the sell-off was the heightened concern that emerged over the weekend | Read More +

Insights: Coronavirus Worries Stocks in January, But Lasting Economic Effects Likely Limited

For a printable version, click here. Overview In January, most major stock indices retreated given worries about the global economic implications of the coronavirus. The monthly return for the S&P 500 was largely unchanged at -0.04%, the Russell 2000 (U.S. small-company stocks) fell 3.21%, and the MSCI ACWI ex-USA (non-U.S. stocks) lost 2.69%. In contrast, | Read More +

Insights: Global Stocks and Bonds Extend Gains in October

For a printable copy, click here. Overview In October, most major asset classes rose in response to central bank activity and anticipations of a leveling off of geopolitical risks, including U.S./China trade tensions. The monthly return for the S&P 500 was 2.17%, and non-U.S. stocks in the MSCI ACWI ex-USA gained 3.49%. The U.S. Aggregate | Read More +

Insights: Equities Gain in March Despite Mixed Global Economic Signals

Click here for a printable version. In March, domestic and foreign stocks and bonds once again generally appreciated. The monthly return for the S&P 500, for instance, was 1.94%, and non-U.S. stocks in the MSCI ACWI ex-USA gained 0.60%. U.S. bond prices were up sharply in response to falling yields as evidenced by the fact | Read More +

Our Perspective: The Wall Street Journal on The Importance of Global Diversification

The Wall Street Journal recently published an article by noted columnist Jason Zweig titled “The ‘Dumb’ Money Is Bailing on U.S. Stocks. That’s Smart. ” We want to call your attention to it, because, in our opinion, it deftly demonstrates the importance of global diversification, particularly when an individual market has demonstrated an extended period of out | Read More +

Insights: U.S. Stocks and Bonds Rise in August Amid Continued Uncertainties Abroad

Click HERE for a printable version of this post. Overview In August, U.S. stocks and bonds rose, and foreign stocks and bonds fell. Economic data in the U.S. continued to be strong. August began on an upbeat note after the Trump administration reached a conciliatory trade agreement with the European Union in late July, and | Read More +

Insights: Global Stocks Gain in July, But Headwinds Remain

Click here for a printable version of this post. Overview In July, U.S. and international stocks rose, and domestic and foreign bonds were variously stable or positive. Economic data in the U.S. continued to be strong. It deteriorated further in Europe, but late in the month the Trump administration reached a conciliatory trade agreement with | Read More +