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Individual investments in your portfolios may be viewed as “bundle" of different risks: term risk, default risk, equity risk, alpha risk, illiquidity risk, and leverage risk. Some investments—such as the 30-Year U.S. Treasury Bond—carry only a single type of risk (term risk), while more complex investments or fund vehicles su...

Having become accustomed to the "new normal" of Quantitative Easing, ultra-low interest rates, and Fed-suppressed market volatility, investors must now learn to live with a "new, new normal" as the Federal Reserve's COVID-19 response reset market conditions and expectations. This podcasts describes seven important facts abou...

The unique market environment which we are calling "Post-Monetary Era" presents many challenges for investors, suggesting that investors should focus on defining, quantifying, and prioritizing their goals in order to maximize their probabilty of financial success. This podcast suggests that investors view their goals as "self-imposed...

A slow economic recovery will continue, as governments and central banks search for the right policy mix amid the COVID-19 crisis. The policy will implicitly aim to manage many financial markets, but such efforts will not stop volatility. Strategic asset allocation remains the best way to navigate a still very uncertain investment environment.

With the ongoing pandemic, a weakening economic recovery, and the upcoming elections, emotions are understandably high. It becomes even more important to filter out the emotion, which is something the best investors do. Other topics explored in this issue includes taking a deeper dive on the importance of diversification and maintaining a long-term...

Thought leaders and practitioners discuss key investment risks and opportunities through a social equity lens, and are joined by Judy Belk, president and CEO of The California Wellness Foundation, for a fireside chat on how the foundation is addressing social equity issues holistically through both grant-making and investment approaches.

Over the past ten years U.S. equities have outperformed their non-U.S. peers, however history shows outperformance cycles through time. Contributing factors include differences in index compositions, narrow U.S. leadership, and currency headwinds for non-U.S. equities. Abandoning a diversified approach could result in missed opportunities as the re...

Global equities were hit hard during the first quarter of 2020, erasing most of 2019's gains. Credit-oriented fixed income was also hit, but to a lesser extent, while U.S. Treasury bonds perfored well. Investors may find portfolios out of balance relative to target allocations. Is now the time to rebalance?

The COVID-19 pandemic dramatically accelerated the move from traditional office environment to work-from-home for most American office workers. It is clear that a significant portion of workers will move from a five-day in-office work week to something else. Recognizing, navigating, and adapting to the new office environment will be key to successf...

While inflation continues to trend below target, the possibility for unexpected higher inflation shouldn't be ignored. A shift in Fed policy has resulted in a stance that lowers the likelihood of combatting inflation for the foreseeable future. And the impact of inflation on certain investment strategies should be considered during portfolio co...

In this quarterly update, see the key areas of focus that drive investment returns and the implementation strategies around six themes that include a demand for responsible investment.

One of today’s dominant macro-trends is the reversal of globalization—the free flow of people, goods, services, capital, technology, and ideas across national borders. COVID-19 has further accelerated the deglobalization. In this environment, equity investors may have a harder time finding steady profitability and value. Taking a look a...

Although no previous election year had this year’s unique set of circumstances—a global pandemic, an economic recession, the fastest equity market correction on record (and subsequent recovery), multiple natural disasters, and social unrest—there are some insights available when examining the individual effect of each variable. Fa...

The first half of 2020 was marked by a return of volatility to the global capital markets as the fallout from the COVID-19 pandemic rippled across the globe. The market rallied during the second quarter under an aggressive central bank policy, coupled with optimism that economic indicators had bottomed. Turning to the fall period, the landscape for...

The markets moved higher during July and August as cities across the globe continued their re-opening plans after pandemic-induced shutdowns and central banks sustained their support for global markets. However, when September came, the market sentiment turned negative, with most risk assets posting losses. Still, the third quarter was so...