Q3 2017 Quarterly Outlook

Q3 2017 Quarterly Outlook

Two items that are currently occupying media headlines (aside from Trump) and benefit the U.S. consumer include The Amazon Effect and stubbornly low oil prices. While seemingly disparate topics, both are interconnected and provide strong tailwinds for the U.S. consumer in a variety of ways.

Q2 2017 Quarterly Outlook

In recent years, at our internal research meetings, we have discussed when the US economy would experience the later innings of the business cycle, and whether we would see the classic signposts that denoted the end of prior cycles. Our concern was that the longest running experiment in monetary policy would extend the low growth economy indefinitely, never getting too hot or too cold, but overshadowed by a consumer or business cycle that never really got going.

Q1 2017 Quarterly Outlook

We have published a special report on “Preparing For A Trump Presidency” in addition to our Quarterly Outlook this quarter.

Q4 2016 Quarterly Outlook

The Wall Street expression that “markets climb a wall of worry” was certainly true during the third quarter. Despite Brexit, the opening of a contentious U.S. presidential election, a spike in interest rates, scattered police and racial violence, and another quarter of negative earnings growth, broad equity markets turned in one of the stronger third quarter performances in recent years.

Q3 2016 Quarterly Outlook

It seems like the investor thirst for yield is unending.

Q2 2016- Quarterly Outlook

If you closed your eyes during the quarter, you missed one heck of a ride.

Q1 2016 – Quarterly Outlook

Despite the weak start to the year, we remind investors that sentiment can dictate short-term performance, but fundamentals are ultimately responsible for long-term returns. In the accompanying slides, we highlight opportunities for 2016.

Q4 2015 Outlook- Stick to the Plan

Stick to the Plan Former heavyweight boxing champion Mike Tyson once said, “Everyone has a plan until they get punched in the face.”  While we…

Q3 Outlook 2015 – Investors want certainty when it is hard to find

Market sentiment turned very sour as we exited the second quarter and this sentiment
persisted through early July

Q2 Outlook 2015- Hold the Line Through the Turns

Some of our colleagues at Edge are driving enthusiasts; thus, as a follow-on to our first quarter outlook theme “Engine is Still Running Under the Hood,” we find it only appropriate to follow it this quarter with the remark “Hold the Line Through the Turns.”

Q1 2015 Outlook: Engine is Still Running Under the Hood

We are prepared to revisit the roadmap as needed but feel confident that the “vehicle” by which we achieve our individual investment goals remains in running shape.

Q4 2014 Outlook: Trick or Treat?

Has the world fundamentally changed during these past four weeks?

Q3 2014 Outlook: Moderation is a Virtue

“Moderation is a virtue only in those who are thought to have an alternative,” so says Henry Kissinger. Perhaps it is this thought that some global central banks took to heart in recent years.

Q2 2014 Outlook: Canceling Out the Noise

This is an appropriate metaphor for investing. We must actively work to filter the data we receive so that we can concentrate on what matters and not be distracted by the talking heads.

Q1 2014 Outlook: One of These Things is Not Like The Other

In the investment world, differences are where value is created. We are not talking about that dangerous phrase “This time it is different.” No, we are talking about finding those little disconnects that others have not quite picked up on or perhaps don’t fully believe quite yet.

Q4 2013 Outlook – Focus on What You Can Control

In the face of these outside influences, we must focus on what we know – that valuation is the guide to good returns. As investors, we can exert our control by being selective in the assets we own. By having a plan yet staying flexible, we will be able to find the path to our long-term investment goals.

Q3 2013 Outlook – Back to the Future

The second quarter of 2013 saw an important dynamic shift – the market’s perception of the US Federal Reserve’s posture.

Q2 2013 Outlook – Eyes on the Horizon

In this Quarterly Outlook, we place our comments on recent events into the context of our forward-return frameworks, understanding how each may affect the drivers of risk and return within asset classes over the next few years.