ADR/International Equity Commentary
2Q 2019 — International Equity Continues to Shine in Second Quarter
July 16, 2019

The Navigator® International Equity/ADR strategy delivered annualized gains of 5.19% gross (2.09% net) vs. the gains of 2.16% for the MSCI…

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U.S. Small Cap Commentary
2Q 2019 — Small Cap Rallies with Value and Quality
July 15, 2019

For the five years ending June 30, 2019, the Navigator® Small Cap Core U.S. Equity strategy delivered annualized gains of 7.37%…

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All Cap Core Commentary
2Q 2019 — Value and Quality Characteristics ­Remain Solid in All Cap
July 15, 2019

Per our notes in the commentary Avalon on the extreme and persistent outperformance of large-cap and growth stocks at the detriment…

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The Soslow Report
2Q 2019 — Avalon
July 15, 2019

In last quarter’s commentary entitled “Ignore the Deafening Noise” I urged readers to focus on the likely future of Fed policy and economic activity at the expense of the media’s obsession with the current flattening of the yield curve,

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Tax-Free Fixed Income Commentary
2Q 2019 — Tax-Free Fixed Income
July 11, 2019

A lower and flatter yield curve took center stage for tax-free bonds through the first quarter of 2019, taking an encore from the sound performance during the back half of 2018.

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High Dividend Equity Commentary
2Q 2019— The Search for Yield Continues
July 11, 2019

The market reversed course in the first quarter with the S&P 500 Index climbing 13.1% after a bruising fourth quarter decline which narrowly missed the 20.0% bear market territory.

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SMA Fixed Income Commentary
Q2 2019 SMA Fixed Income Commentary— How Can You Just Leave Us Standing? Alone in a World with Rates so Low…
July 11, 2019

If the health of the U.S. economy remains on solid ground, then the speed and direction of the Fed policy change this year is quite interesting.

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Taxable Fixed Income Commentary
2Q 2019— Taxable Fixed Income
July 10, 2019

Fixed income returns were robust during the quarter based on the Fed’s change in messaging to a dovish stance.

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Fixed Income Total Return Commentary
2Q 2019 — The Pivot is Almost Complete
July 10, 2019

“Don’t fight the Fed” is a common axiom among investors that has relevance in today’s market environment. After a brief trade…

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Benchmark Review
Benchmark Review & Monthly Recap, June 2019
July 2, 2019

Dovish Fed Spurs June Rally Highlights: The S&P 500 Index achieved a new all-time high and enjoyed a strong rally (the…

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