Value Tag

Developed Market Performance Since the 10/12/22 Low

28 Feb, by Steven Vannelli, CFA in Markets

Stocks ground into a low on October 12, 2022, and have since recovered about 15.21%. The Morningstar Developed Markets Large-Mid Cap Index has also experienced a golden cross where the 50-day moving average rises through the 200-day moving average. Generally, I view a security trading...

Is Now the Time for Small Cap Growth to Shine?

03 Aug, by Steven Vannelli, CFA in Markets

Across US indexes, growth has experienced a resurgence relative to value off the June 17, 2022 low. In this piece, I am going to focus on small-cap stocks and consider their merits through the lens of: 1) US Treasury yields, 2) oil prices, and 3)...

Breakdown

23 Jul, by Steven Vannelli, CFA in Economy, Knowledge Leaders, Markets

We believe the technology sector is broadly breaking down. ​​​​​That's the bad news. The good news is that the correlation between pure growth stocks and pure value stocks has plunged. This means that growth only explains about 5% of the movement in value stocks right now....

Is the Re-Opening/Value Trade Over?

07 Jul, by Steven Vannelli, CFA in Markets, Portfolio Management

Interest rates have been falling in recent months leading some to speculate that the “re-opening” trade has run its course. This in turn begs the question as to whether the “value” trade is over. On both accounts, we see signals that still point to an...