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April 03, 2014 | Active Management
While risk is often defined by various statistics, the broadest definition of risk to investors is failing to achieve one’s investment objectives. There are three basic portfolio risks that can prevent an investor from reaching his/her goals: Capital Risk - the possibility of sustained losses …
Audience
All AudiencesMarch 26, 2014 | Active Management
Introduction To a large extent, investment objectives are driven by investment time horizon, magnitude of withdrawals, and risk tolerance level. These goals must be identified and prioritized in order to determine an appropriate asset allocation. Establishing the appropriate asset allocation for …
Audience
All AudiencesMarch 17, 2014 | Investment Themes
Over the long-run, investors must successfully manage three key risks: capital risk, reinvestment risk and inflation risk. Capital risk – the risk of sustained loss– is perhaps the most understood of these three risks. However, reinvestment risk (the inability to redeploy investment cash …
February 20, 2014 | Active Management
Security diversification refers to the allocation of a portfolio across different securities, so that no single security makes up too large a percentage of the portfolio. Sector diversification takes this idea one step further, making sure that the portfolio is distributed among multiple …
Audience
All AudiencesFebruary 15, 2014 | Active Management
In general, the primary purpose of your investment portfolio is to meet your stated goals. Thus, risk management is defined as limiting your portfolio’s exposure to the risks that could prevent you from reaching your stated investment objectives over your given time frame. There are three …
Audience
All AudiencesFebruary 13, 2014 | Investment Themes
Over the long-run, investors must successfully manage key risks, including capital risk, reinvestment rate risk, and inflation risk. Years of disinflation coupled with very low market expectations for future inflation have lulled many into a false sense of security that inflation can’t happen …
Audience
All AudiencesJanuary 02, 2014 | Retirement Plans
Introduction A well-structured and well-communicated investment menu can help Plan Sponsors manage their fiduciary liability and is key to minimizing a wide range of common problems associated with participant-directed plans. To that end, lifestyle or risk-based options have been promoted as a …
October 03, 2013 | Active Management
While each market cycle is unique, in general a full market cycle includes periods of declines, recovery, and incremental growth, and should thus represent an unbiased time period for evaluating the performance of an investment manager. Most Market Cycles are Valuation-Driven Many times …
June 06, 2013 | Market Commentary
Stocks historically have done quite well in the face of investor pessimism and concerns. This has led to the saying that stocks tend to climb a “wall of worry.” There has been no shortage of proverbial bricks with which to build a “wall of worry” since the depths of the global financial crisis in …
Audience
All AudiencesNovember 30, 2012 | Market Commentary
Investor attention quickly shifted toward the “fiscal cliff” following the conclusion of this year’s election. Recent market weakness reflects the widespread uncertainty surrounding expiration of a variety of tax cuts and the advent of certain austerity measures at the federal level early in 2013. …
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