Blog

Month: July 2015

The Illusion of Stability

  • Markets
  • Charlie Bilello

U.S. equities continue to trade like a risk-free money market. Over the past seven months, the range (from high to low) in the Dow Jones Industrial Average has been among the smallest in history. This behavior has been comforting to most investors as they tend to equate low volatility with low risk. Additionally, every time there […]

Stocks Fall On…

  • Markets
  • Charlie Bilello

Stocks are down today and you want to know why. We all do; the need to explain things is an innate characteristic of humans. A random walk down Wall Street doesn’t suffice. We want something more tangible, something in the news, something non-random. There will be no shortage of explanations for today’s decline, ranging from a […]

Worried about your bonds? You’re not alone. In speaking with our investors in recent weeks, the most universal theme by far was concern over their bond holdings. Historically low interest rates coupled with the prospect of the first Fed rate hike since 2006 (“rising rates”) were causing anxiety. And most importantly, the average bond fund […]

When Lower for Longer is Not Enough

For years now, U.S. equity markets have rejoiced each and every time expectations for the first Federal Reserve rate hike have been pushed back. Mr. Zero interest rate policy has been the best friend of the stock market bar none. “Lower for longer” has been so ingrained into our psyche that anytime there is a […]