RESEARCH & THOUGHT PIECES FROM OUR TEAM

Thanks to favorable market conditions led by advancing technologies, the stock market has been defined by strong returns over the past several years. Over the same period, volatility surges have also come to define the market, as stocks trading at historically high valuations are increasingly...

What is the difference between a political pollster and a weather forecaster?

The weatherperson sometimes gets it right. 

Yet again, the political pollsters got it wrong. Donald Trump won the U.S. Presidency, convincingly, defying the pollsters, who forecasted a neck-and-neck race. The...

With the speed of information increasing exponentially over the past decades, it seems like Wall Street analysts’ stock recommendations hit the headlines daily. Investors often overreact to these reports, causing short-term, multi-billion-dollar swings in a company’s market value....

Why do markets crash? What causes recessions? Well, the truth is that the economy does not die of natural causes - there is usually an offender to blame. Typically, recessions and market crashes are the result of a combination of deep, underlying issues that have been developing over time, and a...

 Risk-On or Risk-Off?

Investors, who contended with one of the Federal Reserve’s (the Fed) most aggressive rate hiking cycles since the 1980s, experienced a significant risk-off market in 2022 as both stock and bond markets grappled with the highest levels of inflation in forty years....

U.S. Presidential Election

In every corner of America, discussions about the 2024 presidential election echo, yet within this widespread attention lies the paradox that, for all the chatter, the outcome might not wield the expected impact. Controversial, perhaps, but Warren Buffet explained the...

We have often discussed the risks inherent in market timing. While in the past we have centered these discussions around the stock markets, the same holds true for other asset classes. As a reminder, market timing entails making buy or sell decisions based on predictions of short-term market...

During the firm’s two-decade-plus history of managing global portfolios, we cannot begin to count how often clients and prospects have questioned us on our avoidance of purchasing mainland China stocks. Clients often cite a vast population, growing middle class, and "cranes in the skylines"...

While still lingering in the air of an unkept house, the dust has seemingly settled following the banking panic earlier this year, which saw the collapse of the European banking giant Credit Suisse, and the 2nd, 3rd, and 4th largest bank failures in U.S. history. Credit Suisse’s failure...

Life is not linear; you have ups and downs. It's how you deal with the troughs that defines you. Much like life, performance measurement is a process, not an event. It's a flowchart, not a checkbox. As a long-term value manager, we have specific processes in place geared towards generating...

Until the release of ChatGPT (Generative Pre-trained Transformer) in late 2022, artificial intelligence (AI) developments largely flew under the radar. Although AI has existed in some form since the 1950s, it was perhaps more prominently featured in science fiction than in the everyday lives of...

Reverberations of the 2008-2009 Great Financial Crisis (GFC) were felt throughout the stock and bond markets as news of SIVB’s demise dominated headlines. In less than 48 hours, Silicon Valley’s largest bank, which was trading over $300 per share just last month, collapsed on Friday...