FIRESIDE CHARTS
The Economy, Supply and Demand, Emerging Markets
Interest rates are moving higher as continued economic strength has tempered the market’s expectations for rate cuts from the Federal Reserve. With less than a week to go until the first advance release…
1Q24 Review – Decathlon Core Holdings Outperformed in a Strong Market, while a New Portfolio Looks to Capitalize on Changing Market Dynamics
The Decathlon strategies had an excellent quarter with all asset allocation models beating their asset mixture benchmarks (on a net and gross basis). This was achieved despite below neutral equity exposure for most of the quarter. Once again…
Mixed Messages, Preferred Stocks, Tax Day
The U.S. economy continues to stand out relative to its developed world peers, despite sending many mixed messages. Consumers are still spending but, in addition to higher credit card debt, they are…
Sticky Inflation, Oil Volatility, Inverted Yield Curve
The Consumer Price Index (CPI) for February rose in-line with expectations, but the headline number remains higher than the Federal Reserve’s target and there remain some concerning readings under the…
AI Boom, Tech dominance, Global Growth
It may be too early to claim victory on inflation. Higher than anticipated inflation in shelter pushed up core inflation more than expected, but that wasn’t the only concerning category in the report…
Stubborn Inflation, Sweden, Semiconductors
It may be too early to claim victory on inflation. Higher than anticipated inflation in shelter pushed up core inflation more than expected, but that wasn’t the only concerning category in the report…
Strong Job Growth, India Accelerating, Regional Banks
The U.S. economy continues to defy expectations. January’s non-farm payrolls report smashed expectations and December’s report was revised higher. Productivity growth in the fourth quarter was higher…
Investors Need Not Fear the Traditional Diversified Portfolio – A Historical Perspective
For much of 2023, investors were leery of holding traditional risk assets given the attractive prospects of riskless cash yielding over 5%, and the poor trailing performance of nearly all cash-flowing assets. While the recent decline in rates…
Consumer Optimism, Oil Surplus, Bitcoin ETFs
Consumers are perking up as we begin the new year. Sentiment is beginning to turn on the future economic outlook, and consumers are feeling positive about their financial health. Economic momentum…
4Q23 Review and Outlook – Moving Beyond Inflation: narrow winners drove a strong market in 2023 but can the economy deliver?
We expect the best opportunities of 2024 to be outside of the largest U.S. companies. This could bode well for active management as it would mean more securities that outperform passive indices rather than less. We are well positioned…