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Correction Watch: Divergences are Developing Between Large US Stocks and Everything Else August 27, 2020

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

Last week we put out a succinct mid-quarter update in which we highlighted 9 negative inputs into a tactical equity framework. This post builds upon that by calling out 7 rather conspicuous divergences that are developing in the financial markets. The VIX index is rising…

Financials Can’t Catch a Break, and What it Means for the Market August 21, 2020

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

The bank stocks are at it again as they make another new 52-week relative performance low compared to the broad market. It’s a perennial issue. Over the last year the KBW Bank Index, an index of 24 of the largest US banks, has underperformed the…

Mid-Quarter Update: Nine+ Negative Inputs for the Equity Market August 18, 2020

By Steven Vannelli, CFA in Markets, Portfolio Management

We believe the risks of an intermediate decline are higher than average and would advocate a more cautious stance toward equities right now. The S&P 500 just turned positive for the year after a wild ride that saw the index plunge 34.07% in 23 trading…

Value over Growth or More of the Same? August 14, 2020

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

Over the last few weeks there has been quite a bit of chatter among strategists about whether the market is undergoing a sustainable rotation into “value” stocks from “growth” stocks. It’s a bit surprising to us to see the outpouring of commentary on the issue,…

A Trillion Here, a Trillion There…and What it Means for Stock Market Leadership July 27, 2020

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

Over the weekend the world learned of the Senate Republican’s “opening bid” for the next round of fiscal stimulus in the United States. That number came in at a nice, round $1tn. Now, as large as that number is, it still pales in comparison to…

When the QQQs Make You Queasy July 24, 2020

By Bryce Coward, CFA in Knowledge Leaders, Portfolio Management

Here we are in the dog days of summer, and the hot weather is not the only thing making us a little queasy. The darling stock market group since 2011, the Nasdaq 100 stock index, has soared a cool 20% this year and well into…

10 Major Investment Implications (and 32 charts!) of a Weak US Dollar July 17, 2020

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

With the US dollar index recently having completed a so called “death cross”, we thought it would be a good opportunity to review the investment implications of a potential trend change in the USD. The “death cross” is a technical chart formation in which the…

Spotlight Fisher & Paykel Healthcare: A Pandemic Study in Embracing Change June 26, 2020

By Knowledge Leaders Team in Knowledge Leaders

How does a Knowledge Leader handle a global pandemic? By adapting. Consider New Zealand-based Fisher & Paykel Healthcare, a top 10 manufacturer in the global ventilator market, a company one could argue was already prepared for the unknown by its disciplined approach to investing in…

Owning Gold is as Much about Diversification as it is about Capital Appreciation June 24, 2020

By Bryce Coward, CFA in Economy, Markets, Portfolio Management

Regular readers of our content know that we have been building the case for several years now on why gold deserves a place in diversified portfolios. Sure, we see significant upside in gold (unlimited upside, in fact), aided as I will show by the unprecedented…

Ready for Another USD Rally? June 19, 2020

By Steven Vannelli, CFA in Economy, Markets

As funding strains appeared in March, the USD surged. Then the Fed stepped in with massive foreign exchange swaps as a way to lend USD to foreign central banks, intended to ultimately be lent to borrowers in need of USD. As F/X swaps reached almost…

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The information presented here is for informational purposes only, and is not to be construed as an offer to sell, or the solicitation of an offer to buy, securities. Some investments are not suitable for all investors, and there can be no assurance that any investment strategy will be successful. Hyperlinks may be included in this message that provide direct access to other internet resources, including web sites. While we believe these links are to reliable sources, Knowledge Leaders Capital has no control over the accuracy or content of information contained on these sites. Although we make every effort to ensure such links are accurate, up to date and relevant, we have no control over pages maintained by external providers. The views expressed by these external providers on their own web pages or on external sites they link to are not necessarily those of Knowledge Leaders Capital.

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An investor cannot invest directly in an index. Any reference to Index performance does not represent the performance of any investment product offered by Knowledge Leaders Capital, LLC. The performance of client account may vary from the Index performance. Index returns shown are not reflective of actual investor performance nor do they reflect fees and expenses applicable to investing. The Index data is the property of Knowledge Leaders Capital, LLC, which has contracted with SolactiveAG to calculate and maintain the indexes.

The launch date of the Knowledge Leaders Knowledge Leaders Developed World Index (Bloomberg ticker KNLGX is 7/1/14 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders Emerging Markets Index (Bloomberg ticker KNLGEX) is 9/2/14 and the base date of the index calculation is 4/1/2005. The launch date of the Knowledge Leaders International Index (Bloomberg ticker KNLGINX) is 8/15/16 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders United States Index (Bloomberg ticker KNLGUSX) is 8/15/16 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders Developed World ADR Index (Bloomberg ticker KNLGAX) is 9/13/16 and the base date of the index calculation is 3/31/2000. The launch date of the Knowledge Leaders International ADR Index (Bloomberg ticker KNLGINAX) is 8/30/16 and the base date of the index calculation is 3/31/2000.

The returns of the Index prior to the launch date are based on applying the rules in effect as of the launch date retroactively to historical periods to and including the base date. Results are not based on an Index that was maintained in real time. The pre-inception performance results of the Index are hypothetical returns which have been compiled by Knowledge Leaders Capital. The performance results are based upon a hypothetical model. Hypothetical performance results may have inherent limitations, some of which are described below. No representation is being made that any account did or was likely to achieve profits or losses similar to those shown. One of the limitations of hypothetical performance results is that they are prepared with the benefit of hindsight. There are numerous other factors related to the markets in general or to the implementation of any specific trading strategy which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. These returns should not be considered as indicative of the skills of the investment adviser.To obtain additional index methodology and constituent components, please visit KnowledgeLeadersCapital.com.

Companies are selected for “Spotlights” based on high levels of innovation activities in their industries and illustrate innovation being employed across all sectors and geographies. Spotlight selection is separate from stock selection by the investment team. Spotlights are not necessarily representative of investment opportunities and can be selected regardless of investment performance.

Blog

Correction Watch: Divergences are Developing Between Large US Stocks and Everything Else August 27, 2020

Financials Can’t Catch a Break, and What it Means for the Market August 21, 2020

Mid-Quarter Update: Nine+ Negative Inputs for the Equity Market August 18, 2020

Value over Growth or More of the Same? August 14, 2020

A Trillion Here, a Trillion There…and What it Means for Stock Market Leadership July 27, 2020

When the QQQs Make You Queasy July 24, 2020

10 Major Investment Implications (and 32 charts!) of a Weak US Dollar July 17, 2020

Spotlight Fisher & Paykel Healthcare: A Pandemic Study in Embracing Change June 26, 2020

Owning Gold is as Much about Diversification as it is about Capital Appreciation June 24, 2020

Ready for Another USD Rally? June 19, 2020

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