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market-insights

Investing Lessons from 2018

In the first installment of his annual look at what markets taught investors over the previous year about prudent investment strategy, Larry Swedroe unpacks lessons one through three from 2018. Every year, the markets provide us with lessons on the prudent investment strategy. Many times, markets offer investors remedial courses, covering lessons it taught in …Read More.

Long/Short Portfolios Can Improve Tax Efficiency

Is the conventional wisdom that equates turnover and shorting with tax inefficiency actually right? Larry Swedroe unpacks research showing that relaxing quantitative tax-aware strategies’ long-only constraint can drastically increase tax benefits. “Conventional wisdom” can be defined as ideas that are so accepted they go unquestioned. Unfortunately, conventional wisdom is often wrong. Two good examples are …Read More.

Are Corporate Bonds Worth the Risk?

After a look at the historical evidence, Larry Swedroe makes the case that investors haven’t been adequately compensated for taking on the various risks, implementation issues and other planning requirements associated with corporate bonds. It’s important that investors understand all risky assets can experience long periods of underperformance. My favorite example that makes this point …Read More.

The Basics of a Spend-Down Strategy

For a more secure retirement, think larger than simply trying to pay the least amount in taxes each year. Wealth Advisor Bill Morgan outlines the process for building an overarching spend-down strategy designed to minimize taxes over a lifetime. Almost every client we talk with emphasizes one primary, overriding goal: having enough money in retirement. …Read More.

Market Volatility and Equity Performance

When stock markets drop, it can be tough to see past the pain and recall that your investment plan incorporates such risks. To help you take the long-term view, Chief Investment Officer Jared Kizer puts October’s market moves into perspective. When the stock market drops, it can be tough to see past the immediate pain. …Read More.

Credit Premium: Fact(or) Fiction

Are corporate bonds additive to portfolios that already own stocks and government bonds? Jared Kizer revisits this question with a look at the historical justification for, and some facts and fiction regarding, the investment-grade credit premium. The above title may well end up being my most significant marketing achievement. Yet, it is a good descriptor …Read More.

Time Is Not on Active Management’s Side

Larry Swedroe summarizes the recently released mid-year 2018 SPIVA report, which once again offers powerful evidence regarding active management’s inability to persistently outperform. Since 2002, S&P Dow Jones Indices has published its biannual Indices Versus Active (SPIVA) reports, which compare the performance of actively managed equity funds to their appropriate index benchmarks. The 2018 midyear scorecard includes …Read More.

Re-Examining Emerging Markets Equity

Jared Kizer offers five lessons that reinforce some of the reasons investors should remain committed to a long-term emerging markets equity allocation. Emerging market equities have substantially underperformed the S&P 500 Index in 2018, with the S&P 500 up 6.5 percent and emerging markets down 4.4 percent through July. As I detailed in a recent …Read More.