By: Mason Wev, CFA®, CMT

Opportunity Update Commentary
3Q 2018 — Is the Economic Growth Cycle Too Slow and Steady to Become Imbalanced?
October 19, 2018

The third quarter was a positive one for U.S. equity investors, as a surging U.S. economy and labor market, in which…

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Multi-Strategy Commentary
3Q 2018 — Stocks Lead Gains, High Yield Bonds Remain Strong
October 16, 2018

The third quarter was positive for U.S. equity investors, as a surging U.S. economy and labor market, in which consumer confidence…

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Opportunity Update Commentary
2Q 2018 — Cyclical Bull Market Trends ­Continue, Despite Worries It Is Long in the Tooth
July 20, 2018

The second quarter of 2018 was much more quiet than the first, at least in U.S. markets. We began the quarter…

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Multi-Strategy Commentary
2Q 2018 — Global Growing Pains
July 20, 2018

The consensus thinking in early 2018 was that we had achieved “synchronized global growth,” but only the U.S. has delivered so…

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Multi-Strategy Commentary
1Q 2018 — Single Digit Returns, Double Digit Volatility
April 30, 2018

The first quarter of 2018 finally delivered a long-awaited correction in equities. As usual, the trigger was unanticipated. To our eyes,…

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Opportunity Update Commentary
1Q 2018 — The First Quarter Was Back to Normal
April 18, 2018

The first quarter of 2018 proved a stark contrast to 2017’s steady and smooth ride up. To begin the year, markets…

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Opportunity Update Commentary
4Q 2017 — Bears’ Fears Are Only Imagined
January 25, 2018

The Roman philosopher Seneca said that “We are often more frightened than hurt; and we suffer more from imagination than reality.”…

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Multi-Strategy Commentary
4Q 2017 — The Ride Was Smooth and Up
January 25, 2018

The year 2017 was very profitable for both U.S. stock markets and the U.S. high yield bond markets. The ride was…

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Portfolio Perspectives
Adding to the Benefits of Diversification
November 15, 2017

Diversification is said to be one of the only free benefits that you can get while investing. It costs nothing, except…

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Opportunity Update Commentary
3Q 2017 — Markets Are Telling Bears: Resistance Is Futile
October 23, 2017

The third quarter of 2017 continued a slow grind higher for U.S. equity markets, while international markets continued to provide leadership…

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Multi-Strategy Commentary
3Q 2017 — The “Slow Grind” Continues
October 16, 2017

The third quarter of 2017 continued a slow grind higher for U.S. equity markets, while international markets continued to provide leadership…

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Multi-Strategy Commentary
2Q 2017 — A Reversal of Fortunes
August 29, 2017

Markets have continued their strength from 2016 into 2017, as the S&P 500 ETF (SPY) is up 9.17% through June 30th….

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Opportunity Update Commentary
2Q 2017 — It’s the Classic Slow Grind
July 20, 2017

News regarding the economy during the second quarter of 2017 was quiet, and that resulted in a classic slow grind higher…

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Portfolio Perspectives
Returns of Active Bond Funds Stand Above Active Equity Funds
April 7, 2017

This year’s results of Morningstar’s Active/Passive Barometer study presented some interesting but not-too-well-recognized facts. Actively managed bond funds proved their worth…

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Multi-Strategy Commentary
4Q 2016 — 2016 Defined By Turn in Interest Rates
January 23, 2017

Populism, the Brexit vote, and the election of Donald Trump dominated the news in 2016. While these events dominated the headlines,…

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Portfolio Perspectives
Did the Trump Rally Move Value Stocks and Small Caps Too Far Too Fast?
December 15, 2016

Recent market movements offer possible evidence of a major, long-term trend change favoring value stocks. Prior to 2016, for a number…

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Opportunity Update Commentary
3Q 2016 — A (Comparatively) Quiet Time for the Markets
October 19, 2016

Compared to the Brexit-related fireworks at the end of the second quarter, the third quarter was a quiet time for the…

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Opportunity Update Commentary
2Q 2016 — Plenty of Fireworks
July 5, 2016

While all of that activity was volatile and dramatic, we did not see much change in underlying market trends, which can…

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Portfolio Perspectives
Argentina & Relative Strength
June 22, 2016

What factors led to your decision to invest in Argentina? We have developed a quantitative matrix of 205 ETFs that we…

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Opportunity Update Commentary
1Q 2016 — a Tale of Two Halves
April 22, 2016

Waterfall Decline Followed by Solid Rally The first quarter of 2016 was a tale of two halves, as the first half…

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