Blog

4Q Growth Expectations Crashing: A Tailwind for Bonds November 15, 2019

By Steven Vannelli, CFA in Economy

Today’s US economic data releases have sent growth expectations plunging for fourth quarter GDP. First, retail sales ex-autos and gasoline rose only .1% in October, well below the .3% expectation. Second, industrial production fell twice as much as expected in October, dropping -.8% compared to…

Read More

Not So Fast on the Cyclical Chinese Recovery November 14, 2019

By Bryce Coward, CFA in Economy, Markets

This morning investors were unfortunately treated to a rather disappointing package of October Chinese economic data. Three of the most important hard data series were reported: fixed asset investment, industrial production and retail sales. Each was lower than the previous month and missed expectations, suggesting…

Read More

Spotlight Glory Ltd: When Cash Goes Digital November 06, 2019

By Knowledge Leaders Team in Knowledge Leaders

The one attribute all Knowledge Leader companies have in common – no matter their sector or geography – is a commitment to investing in innovation. Once we identify a company with a high R&D spend as a percent of sales, the next layer of research…

Read More

If International Equities Outperform, Will You? November 01, 2019

By Bryce Coward, CFA in Portfolio Management

I wrote a week ago about how international equities may be finally getting the help they need to break the back of a long-term underperformance trend. It’s a trend that has caused international stocks to underperform US stocks in eight of the last eleven years….

Read More

EAFE Equities: Can they Ever Work Again? October 25, 2019

By Bryce Coward, CFA in Markets

EAFE stocks, those in the developed Europe and Asia regions, have underperformed US stocks in eight of the last eleven years. That batting average might be decent if you are a professional baseball player, but not so much if you are a professional investor. What’s…

Read More

Not QE? October 18, 2019

By Bryce Coward, CFA in Economy, Markets

Last week the Federal Reserve announced the re-commencement of large scale asset purchases in order to alleviate funding pressures that had been bubbling for several months. Much effort has been made by Fed Chairman Powell and other missionaries to explain why this round of asset…

Read More