In: Commentaries

Fixed Income Total Return Commentary
2Q 2018 — Tariffs, Geopolitical Risks, and the Fed
July 20, 2018

The S&P 500, and in fact the overall market, is in the midst of its fourth longest pullback since the market…

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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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High Dividend Equity Commentary
2Q 2018 — Made in America
July 18, 2018

At the mid-year mark, earnings growth remains stellar aided by the 2017 Tax Cuts and Jobs Act which helped boost first…

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ADR/International Equity Commentary
2Q 2018 — ADR Steady into Its Second Decade
July 18, 2018

The Navigator International Equity/ADR strategy delivered annualized gains of 9.56% gross (6.34% net) vs. the gains of 5.99% for the MSCI…

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U.S. SMID Cap Commentary
2Q 2018 — SMID Starts Sixth Year Slowly
July 18, 2018

Since inception, Navigator SMID strategy delivered annualized gains of 15.48% gross (12.10% net) vs. 12.15% annualized gains for the Russell 2500…

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U.S. Small Cap Commentary
2Q 2018 — Navigator Small Cap’s Quality Bias Povides Drag
July 18, 2018

For the five years ending June 30, 2018, the Navigator Small Cap strategy delivered annualized gains of 13.54% gross (10.21% net)…

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The Soslow Report
2Q 2018 — The Dilemma of Success
July 17, 2018

With my youngest now 19 and off to college in the fall, I begin to consider my parenting obligations as both…

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The Soslow Report
1Q 2018 — The Old Normal Copy
July 17, 2018

Politics aside (always a dangerous opening salvo), the current administration self classifies as pro-business. Agnostically, I classify it as pro-cyclical. Before…

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All Cap Core Commentary
2Q 2018 — Semiconductor Capital Equipment Transition Tempers All Cap
July 17, 2018

For the second quarter of 2018, the Navigator All Cap strategy lost 0.87% gross (1.62% net) versus a 3.89% gain in…

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Taxable and Tax Free Fixed Income Commentary
2Q 2018 — The Rates Market Was Kung Fu Fighting
July 13, 2018

If the shape of the yield curve is any indication, the Federal Reserve and investors are locked in a battle of…

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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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Fixed Income Total Return Commentary
1Q 2018 — Keep Calm and Carry On
April 18, 2018

The global markets experienced a sharp bout of volatility in the first quarter, in stark contrast to the tame markets investors…

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All Cap Core Commentary
1Q 2018 — All Cap Starts Positive — Barely
April 17, 2018

For the first quarter of 2018, Navigator All Cap strategy gained 0.31% gross (-0.44% net) versus a 0.64% loss in the…

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U.S. Small Cap Commentary
1Q 2018 — Navigator Small Cap Slightly Outpaces Benchmark
April 17, 2018

For the three years ending March 31, 2018, the Navigator Small Cap strategy delivered annualized gains of 8.51% gross (5.32% net)…

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The Soslow Report
1Q 2018 — The Old Normal
April 17, 2018

Politics aside (always a dangerous opening salvo), the current administration self classifies as pro-business. Agnostically, I classify it as pro-cyclical. Before…

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High Dividend Equity Commentary
1Q 2018 — Dividend Growers over the Long Run
April 12, 2018

First Quarter 2018 Growth continued to outperform value as higher interest rates, inflation worries and tough tariff talk from Washington marked…

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Taxable and Tax Free Fixed Income Commentary
1Q 2018 — Lawyers, Guns and Tariffs
April 12, 2018

Volatility has hit the fan As 2018 began, higher volatility in the markets was a distant memory from before the 2008…

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Portfolio Perspectives
Bond Market Disconnect: High Yields ­Delivered Despite Treasuries’ Tumult
March 12, 2018

From September 1, 2017 to February 28, 2018, the bond market experienced adjustments as economic data continued to surprise to the…

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