The Great Rebalancing: Q1 2023 Market Outlook
The investment ocean is roiling. The steady ship of 60/40 had its worst year in a generation and many investors are left feeling either adrift in the storm or run aground on a deserted isle.
Systematic Global Equities: Q4 2022 Update: Fork in the Road
As we move forward into 2023, what happens in financial markets will be determined by the interplay of two primary factors – inflation and economic growth.
U.S. Fixed Income: Q4 2022 Update
For each of the first three quarters of 2022, we spent the opening paragraph of this piece finding new and interesting ways to describe just how bad fixed income performance was, across all sectors and tenors. Yet despite capping one of the worst years for fixed income historically, 4Q22 managed to provide positive total and excess returns.
The Rise of Machines in ESG Investing
This post explores the reasons behind the growing popularity of Artificial Intelligence (AI) and Machine Learning (ML), the opportunities that are available in using these techniques for ESG investing and the challenges encountered in using them.
The Power of Quality Investing
While it is intuitively easy to understand that quality companies outperform in the long run, factors that fall in the Quality category often get less attention than the more popular Value and Growth factors. As we head into a slowing economy and possibly a recession amidst an inflationary environment, quality factors once again deserve the attention of investors.
U.S. Fixed Income: Q3 2022 Update
Three quarters of 2022 are in the books, and it is certainly three quarters fixed income investors would all like to forget. As has become our custom, we present a Market Scorecard to document what has occurred across fixed income markets. The numbers are breathtakingly bad and putting them (once again) in a historical context, the bond vigilantes have delivered on the worst three quarter stretch (for some sectors) ever. The broad corporate market, for example, has seen its worst three quarters in succession since inception of modern corporate indices. The same can be said for the broad US Treasury market. At this point, however, we are beginning to see the light at the end of the tunnel.