Research Note - September 2016

August 29, 2016 | Market Commentary

Once again equity markets have demonstrated their ability to bounce back from a flare up in volatility. The market shock from the unexpected victory for the “Leave” camp in the United Kingdom’s referendum on membership in the European Union has faded, and the VIX is once again near multi-year lows.

Evaluating Valuations: An Environment of Elevated Risk for U.S. Equities

May 20, 2015 | Domestic Markets

The November 2014 article titled Three Dimensions of Risk and Returns for U.S. Equities discussed our framework for minimizing the risk of sustained capital loss, a key tenet of the investment process at Manning & Napier. The indicators that are used to analyze this risk from a top-down perspective are grouped into three families: economic, valuation, and liquidity/sentiment.