• Weekly Research Briefing:
    Tug of War

    February 19, 2019

    With the S&P 500 now trading at 16 times its 2019 consensus earnings estimate in a declining earnings environment, it is now time for the fundamental valuation anchor to begin to resist the very strong pull of a technical bounce since Christmas.

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  • Capitalizing on Recent Volatility Requires Delicate Balancing Act

    The recent selloff has advisors and clients discussing how to nimbly take advantage of opportunities if another correction looms, but advisors face a conundrum: How can they add a riskier—albeit attractively valued—asset class without upsetting the portfolio’s long-term risk profile?

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  • Wall Street Mood MonitorTM

    Fourth Quarter 2018

    We gauge Wall Street sentiment by comparing the cumulative upward and downward revisions sell-side analysts make to their corporate earnings estimates. By that measure, the mood has become decidedly sour. While analysts’ outlook has turned sour though, the earnings environment remains positive.

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  • Alternatives Demystified: A Simple Framework for Preparing for a Bear Market


    Ten years after the financial crisis—followed by a record-long bull market —investment advice is at a critical turning point: from participation to preservation. Alternatives can play a valuable role in hedging equity market risk but with so many different strategies—many of which are unfamiliar to clients—advisors need a framework for explaining the various strategies and their role.

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  • Managed Futures:
    What You Need to Know


    The algorithms underpinning managed futures strategies may be complex, but the strategy’s purpose is simple. In a single word: diversification. The following article shares the basics about managed futures strategies, explaining what they are, how they work, and most importantly, their role as a diversifier within a broader portfolio.

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